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Earlier this year the Harlem home once owned by the late James Bailey (of Barnum & Bailey fame) dropped in price from $10M to $6.5M (soon after it was brought down to $3.5M). Now Curbed reports that the limestone castle on St. Nicholas Place and 150th Street has just sold for a $1.4M! Surely the gigantic price drop had more to do with economic climate than all the bad press for the circus he helped found. Regardless, the site points out that this could be the real estate steal of the year, going for around $170 per square foot; a "cold calculation [that] doesn't even include the Belcher mosaic glass, 12' high mercury mirror, French polished oak floors and all the other dramatic original details in need of a thorough dusting." Surely this selling price has Bailey rolling over in his grave like a well-tamed circus lion. Wonder how much he paid to have the home built back in 1888...
Greatest Deal on Earth: Bailey Castle Sells for $1.4M
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Gothamist loves maps, someone pull up a crimes map overlay within 10 blocks over the last few years.
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Just today I read in the NYSD blog that it's hard to do a living room today for less that $50,000.
How is one to do those many rooms and still have money left for a decent security system?
Is that a bad corner? Seriously, I'm asking as I know nothing about the area. 1.4MM seems like a ridiculous steal for a place like that. Honestly, if I knew it would go for that I would've cobbled together some friends to all throw in for the down payment.
I'm just speculating, but I'd bet it needs substantial renovation. The pictures look pretty nice -- but for all we know if could be packed full of asbestos, lead paint, and termite damage. Plus, if it's historic, it may well require all sorts of expensive permits and such to renovate, and you may be restricted in what you can do. Once all that's factored in, the price might be appropriate.
But if it's not a money pit, it does seem like a great deal.
Its not a great corner, but not horrible, either. Its near Trinity Cemetery...the area has always felt a bit isolated to me. I'm glad to see that someone has bought it though, last time I was by there, I was pretty sure it was abandoned. Beautiful house!
I feel so bad - how is that possible? I would love to have bought it.