Will it sell? 912 Castle Point
For those that have been following the periodic “Will it Sell?” Real Estate entries on Hoboken411 – would be interested to know that about 14 months since the original publication, 912 Castle Point Terrace is now listed as “sold.”
We won’t know the final selling price until the tax database records are updated.
See all previous updates after the jump…
5/8/2009 Fire Sale Update:
Flies – meet price
It’s been nearly 10 months since this “Will it Sell?” piece first posted about 912 Castle Point Terrace – and the cunning “Hoboken411 Real Estate Analyst” simply noted:
“$718,000 price drop since the original post!” – and included a photo of this moving truck in front of the property.
Note that there’s an OPEN HOUSE this Saturday if you’re interested in checking out this $1.58 Million Dollar Property.
Read original story and updates below!
Revisiting this property that was featured on the Hoboken411 “Will it Sell?” series…
Price dropping like oil & gas!
A reader commented that they recently had an Estate Sale for this property where they attempted to sell the contents of the house. They confirmed why there are no pictures of the Kitchens or Bathrooms on the listing website…. “the place is a dump!”
They said “this is a minimum 7 figure gut job”.
Also very strange that there are no tax records for this property on www.domania.com. Rumor is this place was bought 5-6 years ago for under $1,000,000 so they can still lower the price quite a bit and still make a nice profit.
The “Will it Sell?” columnist said: “see you at a Million!!!! Singleton Galmann will go from a 130K+ Fee to under 70K when these people find a few suckers to take this one.”
See the original 912 Castle Point analysis from July below…
[Note: This is a Hoboken411 reader contributed article.]
Here is today’s fun Hoboken real estate segment “Will it sell?”
912 Castle Point for $2.3 million
Well I decided to give Hudson Place a break and focus on this property from Singleton-Galmann. With 95% of the Garden Street Lofts remaining unsold (that is a lot of “green” on the table) I figured they have enough problems.
- “Unique American four square 1920’s brick home with front porch and mix of original Arts & Crafts and Victorian detail.”
Comment: WOW This has a front porch! If this house was in Lodi it would cost about $175,000. What the hell is “Original Arts & Crafts?”
- “Living room has huge fireplace, stained glass windows and beveled glass French doors opening to formal dining room.”
Comment: The fireplace may be huge, but it is not very nice looking and is too big for the room. Stained glass = terrible insulating properties. Also those pesky neighborhood kids errant baseball throws will result in huge profits for Hoboken Glass. Also if these people are going to ask for 2.3 Million do you think they could put a Dining Room table worth more than $400.00 from Ikea in the Dining Room for staging purposes. I mean Singleton-Galmann offers these services right on their Web site!
- “Four bedrooms, plus large basement. Enormous yard on the 110’ foot deep lot. CAC.”
This is a nice size lot, but it is on the wrong side of the street. This faces Hudson Street, not Manhattan! CAC… WOW!
I know people who live on Castle Point think they are part of some elite club, and frankly I do not know why. These houses all have low ceilings, and none of the charm of the brownstones on Hudson, Bloomfield, and even Garden Street.
A bad sign with this property is there is not one picture of the kitchen, any bathrooms, or bedrooms. This is always a red flag. For 2.3 Million you would think you would not have to gut this place, but I suspect you will be in for 700-800K in renovations to get this place to where you want it. Just a point of comparison the place across the street that Seth Martin sold for 1.8-1.9 Million last year at least has a NYC view. Although this place needed to be gutted, you are still 500K cheaper, and when completed have an invaluable view.
Also their neighbors place at 916 Castle Point has been sitting unsold for well over a year and they are on their second realtor. (Hudson Place was unable to sell the place so they switched to Coldwell Banker) This place lists for 2.1 Million and has been reduced several times. They also have parking and a “top of the line kitchen” This is a bad sign for these folks.
I think these people will be holding a lot of open houses for nosy neighbors, but suspect I will be writing a follow up article about this place in 6 months when it dips below 2 Million and reappears on Liberty Realty’s website.