Wednesday, April 13, 2005

$20 Million Townhouse Has Room For A Bike

The bubble mentality is alive and well in some areas, as this RisMedia story makes clear. "Before it's even sold, a Brooklyn Heights townhouse with a $20 million price tag is raising the roof on property values."

A local professional is less enthusiastic. "Sellers who expected to reap millions from their Brooklyn houses 'have already lowered prices based on lack of response,' said Kevin Carbury, a Heights broker. 'Manhattan firms are pushing for higher prices on these buildings than I believe are realistic or attainable.'"

Others note the negatives for the community. "'Skyrocketing real estate values are certainly putting substantial pressure on tenants in almost every neighborhood in the borough,' said Brad Lander."

Leave it to the woman on the street to point out the obvious. "'Twenty million dollars, to have to leave your house and hail a taxi?' said Emelinda Jackson, who noted that the house lacked a garage."


At 9:26 PM, Anonymous Anonymous said...

You clearly don't know anything about Brooklyn Heights. People who drive there are idiots. It's perfect for walking, cycling and taking the subway.

Of course, someone who pays $20 million for a townhouse may think they're too good to take the subway. That's another story.


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