The 3-family home at 123 West 122nd Street (just west of Lenox Avenue) has been on the market for over a year now but still has not made any moves except for a a slight price reduction from $2.6 million to $2.45 million. This 19-foot-wide brownstone which has an owner's duplex garden floor unit, lots of original woodwork and details galore that many buyers have been paying top dollar for. A South Harlem location close to the Mount Morris Park Historic District and express trains would also be attractive to many potential homeowners so what is the hold up here? Houses have been going for this price range in the 120s as of late but this one seem to not be getting that much attention. Has anyone seen the property? More details on the broker site:
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Interesting that 351 West 120th Street http://harlembespoke.blogspot.com/2012/04/dwell-351-west-120th-street-in-contract.html went to contract so quickly, of similar size, price and location, what is the difference?
ReplyDeleteIt's a great block and lovely house. The issue is the price reflects a 1-2 family config. This config is really awk - rental downstairs and upstairs, with the owner's apt wedged in between.
ReplyDeleteAlso, lots of original detail, which is not in 100% condition. I think it moves for $2 million. A bigger owners unit would help...
the difference is this is a 3-family house, not single family or at the most 2- family. kitchens are small as they should be, and considering the limited number of photos, my guess is the other 2 apartments besides the owner's unit aren't renovated. the renovation doesn't look all the great up close (ie front door in hi res photo). for this kind of asking price, there are better options, and indeed, buyers have reacted accordingly.
ReplyDeleteIs there an elementary school in the middle of this block or directly across from it?
ReplyDeleteWhat brownstone configuration would command the highest price?
ReplyDeleteThe school is fine - more parking and nice kids.
ReplyDeleteThe units are in fine condition, but why pay a premium price if you only get two floors. Someone who needs rent from two units is not paying 2.5 million for a house. 2.5 requires 3-4 nice bedrooms and an apartment for visitors...
Awkward configuration (3 family not 2) and while house is well maintained, it's not really renovated. Master bath is old, no central a/c, small kitchen .... The houses that have gone for mid teens have more
ReplyDeleteThe master bath is old but depending on taste, classic may be a better term and is one of the highlights of this home, in my opinion, as I remember it from a house tour. The claw foot tub has fabulous high end faucet and shower fittings that appear to be recent additions and I like the tile work.
ReplyDeleteLayout is not so good- small and awkward owner's duplex, wasted space, extra stairs- no attention to original design or layout. Restoration/renovation haphazard and medium quality. Need to "undo" a lot to make it family friendly. Way overpriced.
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