Sunday, August 21, 2011

St. James Mystery Meat (Solved): 73 St. James Place

After taking a look at one of the best multi-family plays in all of Clinton Hill, we came across this find just down the same street on St. James Place. They're doing their best to keep the exact location of this 2-Family brownstone on wraps. Our guess was it's something like 85 St. James, but we can't be sure.

[Editor's note: Added 8/22/11, one reader "Park Slop" pointed out the Brownstoner listing for this place has a photo of the front door with the address labeled pretty clearly (that was edited out of the NYTimes listing) as 73 St. James. Indeed it turns out this was on open house pick a year ago on 7/30/2010 for $1.895M. Considering that the market had turned pretty significantly this spring and summer since then and their price has come down... it's pretty telling. We can't help but agree with one of the reader comments from last July, "Given that there are two houses nearby this St. james Place house asking around $1.3 or less, I find it hard to believe (at least based on the photos) that this house is worth 50% more." Our thoughts exactly.]

Just as $1.3M sounded way too cheap for 11,000 sqft and $165K in gross income for 234 St. James Place, $1.795M sounds pretty steep for a 2-Family in Clinton Hill with a few original details and no clear photos of any one room besides this:

Maybe you can get away with this in Cobble Hill or Carroll Gardens, perhaps Prospect Heights or even Park Slope. But who's in a rush to buy on St. James for this price when there's 407 Sterling, 419 Sterling, and the like? Compare to some Fort Greene and Clinton Hill neighbors with great listings and great interiors that came in at $1.425M and $1.585M.

Our hunch is that this is a great property, we just wish they'd should show it off a little better.

Pro's: original details, curb appeal (presumably), location, nice end-user home

Con's: no address, no clear look at the place, Clinton Hill at Prospect Heights/Park Slope prices

Ideally: someone certainly wants this house. This might not be the price though.


  1. Look carefully at the first photo here:

  2. Good call, Park Slop. Thanks for the tip! Did you catch that roofer's contact info you asked about, by the way?