$4.75 Million Homes in California, New York and Illinois

A storybook-style house on Belvedere Island, an 1858 Italianate house overlooking the Hudson River and a lakefront condominium in Chicago.


Comments: 25

  1. The views from the Marin house blow away any other house listed on here. What an interesting contrast in disparate economic status of our country, though, when you compare this article to the one on a former Macy's being converted to a homeless shelter.

  2. And to the article, several weeks ago, indicating that 46 percent of adult Americans do not have $400 to cover an emergency expense thus, are potentially, a paycheck (or so) from being homeless as well.

  3. I saw, some weeks ago, interior shots and garden photos of "Pretty Penny" on Realtor.com. (Well, I can dream, can't I?)

    Probably it was a sweeter house when Helen Hayes had it, without the large "suites." As for Mr. Arader's conifers, they replaced scores of rose bushes. Now, that's a pity.

  4. Roses would definitely be preferable to conifers.

  5. Despite the over-processed photos, the Marin County home looks worn and rundown, especially on the exterior. The view and location have to account for the price, not the home itself.

  6. You are 100 percent correct," Location, Location, Location" . And with the stupid high tech money around here, someone might buy it and think about tearing it down to put up a 12,000 sq foot glass box.

  7. The views from the brick house are certainly spectacular, but the views of the Hudson and its highlands from Pretty Penny are equally wonderful and have the advantage of four distinct seasons. The sculptural placement of the conifers - and many other specimen trees - echoes Olmstead & Vaux's work, especially for Prospect Park, and provides color and texture all year. And even with its classicism, the Hudson Valley house seems comfortable and livable, and is much less likely to fall off its height in an earthquake.

  8. The house in Marin looks like it will need a great deal of work in order to be merit the asking price. I can't imagine feeling secure on that deck. Just by viewing the interior the foundation looks to have slipped enough leaving cracks in the flooring and walls, not to mention other areas of the house. The kitchen certainly needs to be brought up to date and let's not even speak of bath. Nearly 5 million dollars is a lot to pay for a view when it will cost nearly as much to restore the house on a forested hillside in a state prone to earthquakes and out of control forest fires.

  9. Yes, definitely a scraper. Great lot, though.

  10. Just out of curiosity: What kind of income/savings/investment would a family need to buy and sustain life in a home like this? Who are the people who buy these?

    In my community there are a variety of income levels, and even some families that live in magnificent waterfront spreads. But I really have no idea the depth of wealth needed to own a house like this, and where that money comes from. Any insight would be appreciated.

  11. zaza pachulia of the Warriors earns 3.4 mil a year. If he signed a 4 yr contract for 16 mil, he might buy this house.

  12. In California, a typical owner might have made several million dollars in a successful technology venture, as a founder or senior executive of a company that went public or was acquired at a high price by a larger corporation. Or they might have worked in finance, as a venture capitalist or banker. To buy the $5 million home, you would probably have a personal net worth of at least $10 million. There are many, many thousands of such people in the SF bay area. In the case of Belvedere, it's also possible that someone with much more wealth than that, $50 million or more, would live in San Francisco or Silicon Valley and buy it as a second (or third, fourth, ...) home.

  13. The property taxes on each of these homes is about $50,000--an OK income for one person perhaps (say a recent grad with a first job!)--and you can figure on a similar sum for utilities and general maintenance. The Chicago coop has a monthly fee and garage space is extra , so your answer is: A LOT OF MONEY.

  14. The Chicago apartment is a bargain in terms of price pr sq ft. It's about half the cost (or even less) of a similar apartment in Manhattan (depending on zip code).

    To my mind, the Marin home is too rustic for the price, although the views are lovely. I'd pay for land, but not for views.

    The Nyack house is nice, but it's on the wrong side of the Hudson. That side runs to trailer parks quickly. The right bank of the Hudson has the Westchester solar system of Tarrytown, Scardsale, Purchase, Pleasantville, and Armonk.

  15. Three bedrooms “collapsed” into one?

  16. Sad to hear all the commenters saying that the Belvedere house needs a full reno inside. That interior (including the kitchen!) is so charming. It reminds me of rural France. Not everything has to be flat screen TVs and Viking ranges.

  17. My feeling is that I love with other people's homes have charm. But i want my home to be modern and minimal. I'm delighted to visit charming homes, but I don't want to live in one.

  18. I agree. In fact, the Belvedere house is the only one that appeals to me. I mean, it's ridiculously large, which makes it look tacky from the outside. But the interior is beautiful. The Nyack and Chicago properties are nice, but they do nothing for me. A much smaller version of the Belvedere house would be a dream home for me.

  19. I don't understand the point of continually showcasing properties like these. Do millionaires need help from the NYT to find homes?

  20. I take your point. At least these houses are interesting and generally tasteful. Lot of wealthy people have no clue and live in larger, tarted-up McMansions.

    The Marin County place is likely doomed to purchase by a tech or finance bro, who will have it demolished and replaced by something that looks like thousands of other rich people's houses.

  21. The median home value in TriBeCa is $3,025,900.

    4.75 isn't that high for a place like Manhattan. High is over 12 million. In NYC, 2.5 million is totally normal.

  22. A brick house in earthquake country is not a good idea. At that price, in that location, it really is a teardown. Someone will buy it and tear it down.

  23. Someone , whom I can not recall of hand , called the NYT's real estate section "Real Estate Porn".

    But let's move on what you can get in NY (and I assume the New York Times this time means the State of NY)

    252 FITCH ST
    Syracuse, NY 13204
    4 beds 2 baths 2,000 sqft
    FOR SALE $27,000

    Picture is here

    https://photos.zillowstatic.com/p_h/ISqdve3pg4g7eu1000000000.jpg

    Most interesting is the property tax history

    YEAR PROPERTY TAXES CHANGE TAX ASSESSMENT CHANGE
    Less
    2017 $2,019 +92.6% $35,000 --
    2016 $1,048 -- $35,000 --
    2015 -- -- $35,000 --
    2014 -- -- $35,000 --
    2013 -- -- $35,000 --

    Notes

    1. Property tax doubled , in one year

    2. Assessment is higher than sales price

    3. Property tax is 7.5 % of listed sales price

    On 4,75 Million homes , that would be $ 336 500 per year.

    The estimated tax for the 4.5 Belvedere House : $ 60, 000

    There is a consistent failure of the NY Times to look what is going on in real estate in it's backyard , and how hollow the promise of Governor Cuomo to cap the ever increasing property taxes on an ever poorer population was.

    As Edsall recently noted : " in the struggling Syracuse metropolitan area families moving in between 2005 and 2016 had median household incomes of $35,219 — $7,229 less than the median income of the families moving out of the region, $42,448.

  24. I love the Chicago apartment. Too bad I can't afford it.

  25. This is an interesting collection of expensive homes that fill the need to see how the "other half" lives. My mother lived in Tiburon and during my many visits, I spent hours driving through Belvedere. It is a beautiful area. If it weren't for those pesky earthquakes . . .

    Nyack and the Hudson presents a nice offering but Chicago, not so much. To each their own.

    In general, however, this was a fascinating set of homes.