The almost 25 foot wide house at 12 Mount Morris Park West (just north of West 121st Street) went up on the market a year ago for the asking of $7.99 million and has been pulled off the market as of July. After taking photos of the marathon on Mount Morris Park West this Sunday, we wondered about how that landmark home was doing. One would imagine severals price cuts by early 2010 on the single-family home that has 7 bedrooms, 6 baths, 9 fireplace and 2 updated kitchens with upgraded appliances. Then there's the backyard and 1,200 square foot terrace on the roof that might further interest a potential buyer who wants a lot of space, original details and a great park view. Based on Streeteasy, it appears that the broker did NOT reduce the asking price at any particular point during the eight months the listing was available:
LINK. How many years later will this house have to wait for any offers near $8 million?
Beatiful ... but $8 million dollars? Insane.
ReplyDeleteWhat GreenGirl said.
ReplyDeleteWasn't this place a bed and breakfast not too long ago? Am I confused or something?
ReplyDeleteThe seller is something worse than insane to try to get 8 million for that place. Who is the target buyer I wonder?
Jeezy isn't trying to move into Stately Harlem Manor.
The seller is entitled to ask whatever he wants, whether he finds a buyer is another matter. However this home is unique on many levels, park view, arguably Harlem’s best neighborhood, single family layout, enormous size, 25 feet wide, beautiful architecture from the outside and awash with original details on the inside, it certainly demands a price to set it apart from most other brownstones and is undoubtedly pone of a kind.
ReplyDeleteI just looked at the photos in the Sotheby’s listing. Know what? If I had 8 mil lying around the house I didn’t know what to do with. . .
ReplyDeleteA girl can dream.
I agree this place deserves a premium to other Harlem townhouses given its size, width, location, and original details. But still, the highest recent sale is $2 million, and this isn't just a premium - it's a multiple.
ReplyDeleteTheoretically I could see why this place could get $3-4 million since it's more than 50% bigger than the rest of the $2 million sales, and it's in a neighborhood with more amenities and it's wider and wide townhouses command a special premium.
The problem is, though, when you get to the $4 million dollar range that person can afford a very nice townhouse in prime brooklyn (people say this is true the the $2 million range but $2 million does not buy you a wide, turnkey house in cobble heights, park slope, or brooklyn heights - and other nieghborhoods are a compromise in terms of access to manhattan, public schools, and amenities) and start to be able to afford townhouses in chelsea, the east village, and the fringes of the upper west side if one is willing to make some compromises in terms of original details or width.
I love Harlem too but I don't know who the buyer is at $8 million - its too expensive for the neighborhood. If they are willing to wait they might be able to get $3-4 million. We shall see ...
$2.5 mil would be an appropriate asking price, probably set to trade in the 2.2M mark.
ReplyDelete$8M Ulysses? We're looking at 15-20 years.
I think I saw this place on the Mount Morris house tour earlier this year. Everything about it is amazing. Couldn't guess at what it's worth.
ReplyDeleteSo...since it has a roof deck, anybody have advice on building a roof deck? I want to have one put on our roof! Cheers.
@Chris—first thing you want to do is get an engineer to make sure you don’t end up with a roof deck in your basement.
ReplyDeleteSeriously