The 25-foot wide landmark corner townhouse at Lenox and 119th Street has apparently has apparently increased its asking price by almost one million since May according to records on Streeteasy:
LINK. This building formerly housed the Indigo Arms bed and breakfast but is technically a 3-famiy townhouse with 8,500 square foot of space. A previous asking price of $2.9 million was set when the spring open house season came about this year and the Mount Morris Park property then went off the market only to return at the current $3.9 million price. That's basically $470 per square foot for a renovated building so will the new price attract a seller?
$3.9 million is more money than I will ever have in my life time!, but at $470 a square foot for a fully renovated property like this, I think it is a steal.
ReplyDeleteChris, don’t say that. You could hit the lottery. And if you do you will, of course, remember yer old mates. . .
ReplyDeleteOdd that, at this price, this building is represented by a local broker and not one of the big guns.
ReplyDeleteIrrational pricing - one of the things that makes Harlem unique. If it wouldn't sell at $2.9, then increase the price to $3.9. It's a lovely building, but this price is not supported by the market.
ReplyDeleteFor 8,500 sq. ft I don't think it is irrational. Haven't there been some recent brownstones in the Mt. Morris historic district selling for around $500 sq. ft? Can't recall exactly which ones, but pretty sure that is the case.
ReplyDeleteThose deals were over the summer, which was a better economy, and were single family homes, which command a premium.
ReplyDeleteWho knows the market best, local Broker or "Big gun" ? Both use the same tools to market real-estate.
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