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More mansions
| September 17th, 2015 at 3:04:57 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
26 Pond Rd, Kings Point, NY 11024 It looks like the main house (beds 20.5 baths 35,821 sqft) Sold on 11/08/13 for $15 million. Ultra rich people don't want a huge pile from 1928, they want new homes, That would suggest that the home may be worth $20-$25 million. One REALTOR called them vanity listings. They put these ridiculous prices just so that they get international exposure. When it comes down to it, the home will sell for a fraction of the listing price. |
| September 17th, 2015 at 8:13:28 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 | When I was in SoCal in the late 70's, it was typical for someone to buy one of those old mansion type houses that had a livery stable/garage converted into a guest house. This was sometimes 3-4 thousand sq ft. The new owner would live in the guest house and rent out the big one. Putting all the rent towards the mortgage, and husband and wife working good jobs, they had it paid off 10 years or less by living like paupers and putting it all towards the mortgage. I wonder if that's even possible anymore. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| September 17th, 2015 at 8:36:30 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
I would think it would be very difficult. The bank would want a husband and wife income to be able to cover the full mortgage. You would need the downpayment, the money to cover the renovation . The bank cannot count on the money from renting the main house. But 3-4 thousand sq ft. is pretty big for a stable/garage. My parents home has a gardener's apartment above the garage (built circa 1928), but it's only 800 square feet if you count the space under the eaves. |
| September 17th, 2015 at 8:49:17 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
Most of these stables were built at the turn of the century and they were really barns. They were quite big and some were tall enough that they even had a 3rd story attic with dormers. I was in one of them and it was very nice indeed as a home of it's own. A lot of them were small too, more like the size of a two story cottage. I was in the rich part of Detroit last year and every old beautiful brick mansion had a converted stable/house. Never seen so many old fantastic homes in my life, and I went to Beverly Hills several times. Homes like this on both sides of the street.  If you take a risk, you may lose. If you never take a risk, you will always lose. |
| September 18th, 2015 at 1:48:12 PM permalink | |
| rxwine Member since: Oct 24, 2012 Threads: 189 Posts: 18751 |
I think I saw a documentary on the construction of the building not to long ago. http://fortune.com/2015/09/18/expensive-real-estate/?xid=gn_editorspicks&google_editors_picks=true You believe in an invisible god, and dismiss people who say they are trans? Really? |
| September 18th, 2015 at 4:36:14 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Storage units start at $111,000 for 44 square feet and go up to $211,000 for 84 square feet. Wine cellars start at $133,000 for 38 square feet and go up to $287,000 for a more expansive 82 square feet. Parking spaces will cost $750,000 a pop. - See more at: http://therealdeal.com/blog/2015/03/04/revealed-prices-floorplans-at-vornados-220-cps/#sthash.aaAbLsI9.dpuf Hmmm! |
| November 14th, 2015 at 6:20:56 PM permalink | |
| rxwine Member since: Oct 24, 2012 Threads: 189 Posts: 18751 | 30 room mansion for only 30k  http://www.realtor.com/news/unique-homes/mansion-on-the-move-in-new-hampshire/?cid=syn_outbrain_0214_rss_uh-01 (of course there is a catch) You believe in an invisible god, and dismiss people who say they are trans? Really? |
| November 14th, 2015 at 7:39:00 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Probably be easier to remove the internal woodwork and marble and simply tear down the building. |
| November 15th, 2015 at 11:32:21 AM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
I don't understand why it hasn't sold. The woodwork is worth a fortune, there are people who buy places like this for a living and tear out anything of value and then have it demolished. In the late 19th century, W. Randolf Hearst went around EU buying interiors of castles and mansions and having it all stripped out and sent to a warehouse in NYC. He eventually used it in the houses he built in Calif, including the Hearst castle. He had a staff of workman in EU that worked full time for him doing his bidding. It's quite a story, he had a 3 story warehouse that took up a city block in NYC, stuffed to the brim with EU antiquities. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| November 15th, 2015 at 11:52:31 AM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 | It says it has 20 bedrooms, they must be very small. The house doesn't look all that big. 10K sq ft it says.  If you take a risk, you may lose. If you never take a risk, you will always lose. |