Withdrawn May 08, quoting 8.5
independent.ie/lifestyle/pro … 70260.html
Now 3.8
it’s also interesting that the article states:
EUR785 sq.ft.
Some of those houses are absolutely magnificent but at EUR8.5m, EUR3.8m? WTF?
Would maybe about EUR2.5m represent some value?
Fantastic!
Is this a semi detached?
If it is LMFAO!!!
Nice house, nice area for sure. That type of money you can retire to a high lifestyle pretty much anywhere else in the world & never have to work again
From my recent discussions with Lisneys as to how to currently value a property (only pay over EUR 400 a sq foot if it is on a really exclusive road - this one is)…
EUR 500 a square foot.
4,800 sq ft.
So, EUR 2,400,000
Deduct EUR 200,000 for it being semi-detached.
Value = EUR 2,200,000
Thanks for this.
How does the simple property valuation model of Square Foot x c. 400 take account of factors such as:
Plot size - amount of land included with the property
“Type” of square feet - for example, converted attic contains space that is less usable than other parts of a house
Off-street parking
Location
Type of house: terraced, sem-detached, detached
State of property and amount of redecoration/renovation required
Multitude of other smaller factors such as how busy the road is, proximity to shops, schools, public transport
€400 psf seems a low figure and one that is not reflected in the asking prices of all but a small proportion of houses.
I viewed this property some months ago. It has a long back garden reaching down to the dart line. It is not in good state and will need full refurbishment including probably a new kitchen extension to bring it up to modern standards. Also the usual problem with provision of adequate bathrooms/ensuites in a period house. Will take a lot of money!! Say buy at 3.5m ie 3.9 after purchase costs. Spend 800k * . 4.7m?? Might havee seemed great value two years ago but not today.*
Here’s something to ponder if you are about to spend €3,800,000.
For every 1% fall in the market, the price drops €38,000.
To buy, you must really believe the market has bottomed.
Number 70 is now on sale for €1,925,000 - see
myhome.ie/residential/brochu … -4/1420412
That is a truly whopping 79.7% or € 7,575,000 drop. That is a big number by anyone’s standards.
The house is in quite poor condition - needs rewiring, replumbing, new bathrooms, new kitchen. It has a horrible block extension that is not even plastered internally. The cost of the rework would be of the order of €400K. Ignore the estate agent statement “Well maintained and presented in good order”. There is a crappy upstairs shower that has clearly been leaking for some time. There is at least some wet rot and maybe even dry rot.
It cannot have been renovated from 2006 when it was bought for an eye watering, scrotum tightening €9.5 million until now.
It does have a garden that is probably 1,100 square yards - 1/4 acre. You could grow enough food in it to be entirely self-sufficient.
In no. 70 Park Avenue, you’d think they’d have left the curtains up or at least some decent light fittings.
Mean.
Edited for clarity regarding the house as two are referred to in this thread.
This thread is a mess – half the entries refer to 71 Park Avenue (on the west side of the road, was sold a year ago in need of refurbishment, not currently on the market) and the other half to 70 Park Avenue (on the east side of the road, currently for sale, refurbished). Which are we discussing here? It gets confusing.
Separate thread for 70 Park Avenue created.
Sale agreed
Sold at EUR 2,600,000 in July 2012 - see property price database.