House of the Day: 855 Jefferson Avenue
The reader who flagged today’s HOTD for us thought that it was significantly overpriced at $1,150,000. While we doubt the seller (who also happens to be a Fillmore broker) will get his ask, we bet he’ll get within 10 percent of it — not too bad of a return considering he paid $499,000 back in…
The reader who flagged today’s HOTD for us thought that it was significantly overpriced at $1,150,000. While we doubt the seller (who also happens to be a Fillmore broker) will get his ask, we bet he’ll get within 10 percent of it — not too bad of a return considering he paid $499,000 back in the summer of 2005. The brownstone house (we’re guessing 1890’s) is stunning both inside and out, though the jury’s still out on the new kitchen. And while we’re not familiar with the block off the top of our head, the neighboring houses appear to be of equal architectural pedigree. Any recent comps or insider info on this place?
Listing #706047 [Fillmore] GMAP P*Shark
855 Jefferson Avenue [Craigslist]
Photo by Gregg Snodgrass for Property Shark
What is a good bid price to start with here? 750?
yes this house may seem overpriced but honestly as an agent you just dont know how hard a time we have when trying to convince a seller that they should price their homes at a certain price the sellers are usually greedy because they ‘heard’ their neighbor sold for x amt of dollars
please dont blame all agents some of us are hard working professionals that prepare comps all day for sellers that just have high prices stuck in their heads
Stop Hating. The house is beautiful inside out. You don’t have the money … then you cannot buy it buy it! All neighborhoods have kids that stick up, kill their parents, or bomb a school. Scoff!
Would you believe a house very similar to this on this block and larger than this was a HUD auction in 1997 and went for what was considered alot for Bed Stuy at the time, $230K? This street is close the the subway and the block is quiet. The rooms are a nice size albeit railroad in fashion originally updated in the 1920’s into rooms for rooming house tenants. I purchased a brownstone in Mt. Vernon for $95K in 1997. They are money pits. The only saving grace is the velocity of the value.
3:32: Of course “everyone” is an exaggeration to illustrate my point. Many who can’t afford the rising rents of Williamsburg, or who are not in the market for a 3000 sqft brownstone, and yet enjoy the 12-17 minute ride to Union Square, are moving to Bushwick. Who gentrifies a block faster — 20 millionaires or 400 hipsters? Bed-Stuy will be scary and boring long after Bushwick is packed with interesting, fun, and tasty stuff, even though the former had a head start.
There’s more stuff going on in Bushwick then most people realize. Of course, by the time they realize it, it’s too late.
Now… which of the pricing strategies laid out in the NY Times article did this realtor/owner follow in this case, exactly?
There is an article in the Washington Post today (about WilliamsB)that cites Bushwick as the new hippest neighborhood in BK. So, being close to Bushwick, being on the border of Bushwick and Bed-Stuy, will some day be seen as a great place to live. It make take many years but it is inevitable. The price for this house seems immoral however.
Shoutout to 3:50 pm…I live on Macon a couple blocks over from you.
This house is lovely but I would agree it’s very optimistically priced. At the same time there’s a 3-story at 462 Macon bet Stuy & Lewis up on Corcoran going for $899K. While the block is in Stuy Heights, this price seems outrageous to me as well. What’s going on with Bed-Stuy pricing?
Anyway, I’d say $850k for the Jefferson place if they find a buyer who absolutely falls in love with it. It is a beauty.
Also, I have a contribution for the people-moving-to-Bushwick list…I was in Venus Body Piercing a while back chatting with one of the piercers (or whatever you call them), and she said she was in the process of moving from the E. Vill to Bushwick. I was surprised, as she seemed like an E. Vill “lifer” to me. Said she couldn’t afford the rents in Manhattan any longer. I would guess she was in her mid-30’s…