House of the Day: 87 First Place, Reduced
This massive brownstone at 87 First Place in Carroll Gardens hit the market last June with an asking price of $3,500,000 and after three months was reduced to $3,299,999. After failing to sell, the house again had its price tag chopped to $2,975,000. We’ve got no idea where the market-clearing price is, but given that…
This massive brownstone at 87 First Place in Carroll Gardens hit the market last June with an asking price of $3,500,000 and after three months was reduced to $3,299,999. After failing to sell, the house again had its price tag chopped to $2,975,000. We’ve got no idea where the market-clearing price is, but given that this place has 8,950 friggin’ square feet, we can’t see it getting too much cheaper, can you?
87 First Place [Vita Realty] GMAP P*Shark
Cranberry Street looks sublime.
$1400 a square foot.
I had to google “gimp room.”
In order to buy this, you’d have to believe that:
a) it was a good rental investment (almost certainly not true)
b) It was a good conversion candidate to a one-family (not likely if the remaining apts are r/s or r/c)
c) It is cheap enough to take the risk of evicting tenants or waiting them out (again, not true).
I see a chopped up house needing work priced as if it is an unencumbered single family house.
Pass.
Here is a link to the East Village story Dahill refers to. Very messy.
http://nyc.indymedia.org/en/2008/12/102118.html
Also… a 9,000 sq ft single family home?! They would have to be a seriously productive Hasidic or Catholic family to fill up that space!
They’d probably have to change the Certificate of Occupancy to a single family, right? Then their taxes would probably be A LOT more than $7,000 I betcha!
Not advocating it but if the potential buyer were to use it as a SFR couldn’t they get rid of the RS/RC tenants sort of like what’s happening on 5th st in the East Village?
Here’s a fact sheet on evicting rent stabilized and rent controlled tenants through owner occupancy:
http://www.housingnyc.com/html/resources/dhcr/dhcr10.html
I don’t want to buy this. I just want to be a tenant.