(small house, small picture)
10 Heusted Lane, 1924, 1,500 sq. feet affording “an opportunity to redo”, sold for $785,000. Started at $1.199 million in September 2010, a price that in retrospect was ill advised.
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450 North street.. also with a long history of drops and days on market.. I think it just sold.. 10 Heusted could be 450 North’s less rich cousin..
Not a bad deal, compared to Havemeyer. A well treed neighborhood, south of village, walking to school, shopping and train; close enough to saltwater to be able to smell it. The full, true OG experience.
By the looks of it, the only smells to experience would be emanating from the dank basement.
So the issue here was an inability to expand it?
Sellers paid $1,125,000 in 2005. So assuming broker fees, transaction costs and taxes that’s a $400k loss. It’s shocking how much the edgewater neighborhood has dropped ( even pre Sandy). While the rest of OG has improved to somewhere around 2006/7 levels this area continue to be down 25-30%.
This is a case of all this city dweller who wanted too move to the burbs during a time of little inventory thinking that a 1,500sf house is still bigger than a one bed. In the end there is little real deman for a small house wih little expansion potential.
Sad to see anyone lose that kind of money.
I’m not sure who would ever want to move to Edgewater- most of the houses flood and they don’t even have water views!!!
I thought it was a good deal. FAR regulations really screwed the smaller non-conforming lots.
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