Getting Down to Business at 34th

By Dave Fratello | February 17th, 2011
On and off for the last 3 years, 228 34th (3br/4ba, 3450 sq. ft.) has feebly trolled for buyers.

It was always overpriced, and often underrepresented.

So they tried some razmataz.

It's a "Celebrity Beach Home" (2008). Well, it's, "Owned by a sports celebrity" (2009).

There was the free Porsche convertible offered to buyers. (See "Open-Air Living, Open-Air Driving" from Dec. 2009.)

Always, there was lots of gushing about the rare and big roof deck.

But price was always the big problem.

The 2008 start was at $3.999m. The free car came along when the listing was at $3.6m

When the listing quit last Halloween, the price was at $2.999m.

So that makes the restart this year at $2.550m somewhat more intriguing.

That's 36% off the first list price, $1.050m (-29%) off the free-car price (how many Porsches can you get for $1m?) and 15% off the last list price we saw last year.

And now there's a neighbor up for sale, 224 34th (4br/4ba, 3700 sq. ft.), that could be locked in a dance with 228 on price for some time, even if they are extremely different homes. (See our "Sunday Opens" post from 2 weeks ago for a bit more.)

The crisp, taut, beautiful neighbor with comparable square footage is up at $2.999m, surprisingly close to its $2.925m acquisition price from 2006. (See "Not Rewinding on 34th.")

What's right for 228 34th? For the first time, we're thinking this is the year we'll find out.

The home will be publicly open this Sunday, and that seems to be a first. We'll tease it again for the weekend.

Outside, the home's terribly dated. The 80s-contemporary look needs reimagining.

Inside, the sometime party house has more of a 21st-century, warm feel, with wood floors, modern kitchen and baths. The windows could use an update when the exterior's redone. The gargantuan master suite is a major draw, though one of 4 original bedrooms was drawn into service as an office off the master. With 3 bedrooms, there is a more limited buyer pool.

Back to that roof deck. Standing on it, you see how rare this feature really is. Unlike El Porto, where grandfathered and bootleg roof decks are rampant, in this slice of El Norte, there's nothing like it anywhere nearby. This party space features a built-in barbecue, hot tub, a few seating areas and – we kid you not – a bed. (When we say party we mean it.)

The buyer for 228 34th needs to be willing to do some work, accept the layout and location (did we mention the hotel next door?) and wind up happy.

This is where 224 34th could become such a factor – you want to know what an improved version of 228 might be worth.

Let the dance begin. Or the party, anyway.

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