Huhm.  That was fast!

Does this look familiar?

If it looks familiar, it is because this set of houses was just listed about a month ago.

I don't the exact dates because I never posted these houses, and I don't know the exact asking price at the time, but I am pretty sure these places sold for about $1,450,000 each.

They are apparently houses but for some reason, when they were listed, I thought they were offices.  Maybe I am confusing them with an older listing down the street...

But that isn't the point of this post.  This a house that is over 150 years old.  Together, it sold for just under $3 million just a few months ago....

And now it is for sale again with a 'committee of adjustments approval' for 4 townhouses....

The lot is 79.17 x 138.75 feet.

There is no historical designation but the listing states that '

The Existing Semi-Detached Dwellings On The Site Are Incorporated Into The 4 Freehold Town House Development With Below Grade Garages'.

Here are the plans for two of the units...

Unit #1

Unit #3

Because this is a 150 year old house, I am sure there are people out there who will not like this plan.  I have to say though, if you have ever driven by this building, something needs to happen here and I like this solution.  It's a beautiful old home, just very out of place in this area.

These properties, with the plans, are now listed at $3,595,000.

Which would mean the new townhouses would probably have to sell for a good $2,000,000 a piece.  Is that possible here?  

Yes, definitely.  The semi at 110 Heath Street West around the corner sold $2,525,000! And they are a similar size.

So, it makes sense.

But are these plans and the red tape that has been completed worth another $600,000-$700,000?

I have no idea but I do know that this property is a lot better deal than the semis that were listed in April at 102 and 104 Ulster Street!!! 

$6.5 million!?! 

And no plans or 'committee of adjustment approval' (whatever that is worth)!?!

Ridiculous.

listing

View Larger Map