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I've never been to NJ so can't really gage Rosie's house in terms of a buyer. To me, it doesn't really look like anything special. It's nearly 100 years old, but doesn't have the character that I would want out of a 100 year old house. It's not a tear down either. To me, it looks like a place that has been sort of 'maintained' although that isn't the right description. It's just kind of meh and maybe more of a project because there really isn't anything special about it. Supposedly, anything with will sell if you price it right. IMO, the price is to too high if no one has bought it.
I remember Kaley Cuoco sold her starter house which had been featured many times in the media for less than she paid for it. I think TV stars personal property (their automobiles, clothing, or knick knacks) are more valuable used, but real estate is another story. Perhaps it is the price of real estate that makes people more sensitive.
But real estate that is extremely well known from movies or TV, like the Beverly Hills Mansion, the Godfather home in Staten Island, the haunted house from the first season of American Horror Story, the suburban home in The Poltergeist, the London townhouse from Notting Hill, etc. These homes are probably worth more because of their notoriety.
It looks nice but people who can afford homes in that price range are few and far between and often would choose to build something custom.
And that's the point - homes often in that price range are customized to a certain extent that it can take a while to find a buyer who likes the decor and layout.
Sold at a 1 million dollar loss, new owners to demolish home
Her house was finally sold at a one million dollar loss.5.3 million vs 6.3 million purchase price.
New owners already causing a stir wanting to demolish the house and put multi unit complex on the property including affordable housing units. One proposal has a 20 unit building with at least 4 'affordable' housing units. The plan is to put the 'affordable' units in the corner of the property creating a seperate entrance for different classes scenario. Plan not sitting well with some.
Her house was finally sold at a one million dollar loss.5.3 million vs 6.3 million purchase price.
New owners already causing a stir wanting to demolish the house and put multi unit complex on the property including affordable housing units. One proposal has a 20 unit building with at least 4 'affordable' housing units. The plan is to put the 'affordable' units in the corner of the property creating a seperate entrance for different classes scenario. Plan not sitting well with some.
She sold to the wrong person. I hope someone who doesn’t like her buys up next door and the entire floor below her penthouse and converts it all to affordable housing.
The O’Donnell house is more about the size of the property for that area. Bigger properties do not have the same value to today’s buyers as updated/new larger homes with all the bells and whistles. Less acreage with a grander structure is more sellable in that market. 5 acres is a giant property and unusual.
The home is more valuable to a developer who can split the property. I believe it is being considered for affordable housing but the neighbors are objecting, naturally. This had been going on for years and is in all the local papers.
As I reported a while ago. This has come to pass.
There will be negotiations. The number of units will be reduced but it will still get built with a percentage of affordable housing. I'm guessing they will break ground in 4-5 years.
She sold to the wrong person. I hope someone who doesn’t like her buys up next door and the entire floor below her penthouse and converts it all to affordable housing.
I'm sure she had nothing to do with the sale, but the realtor did everything. Do you actually think she showed the house, met the buyers, asked them what their intentions were? In reality most likely the realtor called her and said "I have a buyer, he is offering 5.3 million, will you accept that?"
I have never heard of any seller asking a prospective buyer why they want to buy their house.
My guess there is some local politics dominating the discussion/plans.
That’s not how it works in NJ. A builder can override zoning rules if the town has not met its affordable housing numbers, by building some affordable units with market rate ones. The builder has to have deep pockets
for legal expenses and the long wait before the approval comes through the courts.
My guess there is some local politics dominating the discussion/plans.
Friend of mine owned a triplex in Mpls, a rambler with a walkout basement. Rented the two places upstairs and lived in the basement. It was built in 1983, so no clue how the city even allowed it to be built?
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Sold at a 1 million dollar loss, new owners to demolish home
