By COLlive reporter
What is the hottest property for sale in New York? It’s not a penthouse overlooking the Statue of Liberty or a luxurious building with a view of Central Park.
According to Israel’s popular daily Yedioth Aharonot, it’s a 100-year-old house in Brooklyn’s Crown Heights neighborhood that at first glance “you might be disappointed.”
The interest the home is attracting around the world, says reporter Adi Gold, is not for its exterior or interior, rather for the cardinal rule in real estate: Location, location, location.
The home at 760 Eastern Parkway is located 2 doors down from Lubavitch World Headquarters, better known for its address 770 Eastern Parkway and its iconic triple pointed roof.
Standing in between the two buildings is the Library of Agudas Chassidei Chabad, the official archive of the Chabad-Lubavitch movement and one of the largest Jewish libraries in the world, which technically also uses the address 770 Eastern Parkway.
Living at 760 for over 50 years was the elder Chabad chossid R’ Meir Itkin and his family. He passed away in 2007 at the age of 96 and his heirs decided to sell the home.
The front yard of the home offers a front view of the year-round buzzing activity at 770, where thousands come from around the world to pray, learn and schmooze. The side lane is often closed for holidays, children’s rallies and the Lag BaOmer Parade.
According to property website estimates, the worth of the 5,850 square-foot two family home with 8 bedrooms, is $800,000. Shoshana Tahl, the real estate agent selling the property is, obviously, aiming for higher: “$1.5 million minimum.”
In the good ol’ days, the Bolsheviks would have seized the property and nationalized it. That would be like seizing the home for Aguch or Library. Fair market value for a 2 family house in Crown Heights is $800,000, “according to property website estimates” – that may be true, but only if you fell down the rabbit hole into Wonderland and ate the mushrooms. Anyone searching for a house knows this is fiction. Bar metzra is an interesting point. Is the bar metzra Tomchei Tmimim who have a stake in the building? Is it the Library? Is it 770 (whomever… Read more »
I would buy it to make a shul for the tzfattym and bring back 770 to its glory
R6 zoning is not always the same. This house at 760 Eastern Parkway that has 40 feet on eastern parkway with 3,500 sq’ & the max to build there is 11,720 sq’. The library @ 766 EP is on a 30′ lot & can only have less than 9k sq’. Now it can not be compared to the museum @ all #1 it has a zoning of C1-3/R6 not just R6 #2 it is a corner of a wide street that automatically gives you more building rights. #3 since it is used as community not residential they were able to… Read more »
The house is worth didilee squat without the rebbe in a guf gashmi. Meshulochim will be banging in your door day and night. 20 years ago they could have sold it for $10m
correction: ALL YEAR!
Such a zechus! To have farbregens all Tishrei and thousands of orchim
FOR THOSE WHO ARE LOOKING TO BE CLOSE TO 770 GETTING A HOUSE HALFWAY DOWN THE BLOCK OR SOMETHING OF THAT SORT WOULD BE A MUCH BETTER OPTION. BY BUYING THIS HOUSE YOU ARE GOING TO HAVETO DEAL WITH THOUSANDS OF FOREIGNERS DURING THE MONTH OF TISHREI WHO USE YOUR PROPERTY TO SLEEP, EAT, BARF, SIT, REST, TALK, SMOKE………..YOU GET THE POINT YOUR PORCH WILL BE 770’S PORCH AND YOU WILL KNOCKS ON T HE DOOR ALL TIMES OF NIGHT- LOOKING FOR WINE FOR KIDDUSH, OR BREAD FOR LECHEM MISHNA ETC. ( I HAVE PERSONALLY SEEN ALL THIS HAPPEN)
This has to be sold to the library for a fair price.
A fair price is not determined by what a stingy billionare who never gave serious money to the Rebbe is willing to pay to hurt the rebbe’s moisdois.
Years ago, when no chassidim live on EP. Only 770. The rebbe instructed R Meir to buy the house closest to 770. He went to look at the house which is now the library and when he came to the 2nd floor and looked out, he noticed that Rebitzen ND, closed her shade. He decided that as he does not want to infringe on her privacy he purchased the next house. At that time a house on EP was way more then DOUBLE any other house in Crown Heights. But as a chasid he bought it…. Another point, over the… Read more »
Aguch has the din of a bar meitzra, and is entitled to buy the property if it is willing to match whatever the highest bidder is willing to pay. Once that is established,. If aguch is not willing, there is no reason why the owners should give it a discount. They’re entitled to every dollar that it’s worth.
המדובר בהרחבת ספרי׳ – ואין ענין לעשות עתה ״מהפכות״ וכיו״ב-וימצאו תכנית ע״ד ״הרגיל״: הרחבת קצת, הוצאות קצת וכיו״ב
Source??
I won’t start talking about money and this special chasid. I am sure there are not to many in Chabad today that can say like rabbi and mrs Itkin, that almost all their children, grandchildren and beyond are on Shlichus, in the rebbe’s Moisdois.
Money is the last thing for this family! A family we can all learn from.
Is there no halachik status in regards to 770 being able to buy this?
The Rebbe never wanted this house for the Library. It well know that as the Itkin’s grew older, Mrs Itkin had asked the Rebbe that they were thinking of selling the house. The Rebbe’s reply to them was “why sell?”. It was very clear to the Itkin’s at the time (and they related the story to many people) that the Rebbe did not want the Itkin Family to sell the house to anyone, ever, period. Furthermore, comment #1 and others who falsely claim that the building is needed for the library expansion, makes no sense at all because this house,… Read more »
Realtors Get a cut. So of course there’ll be price gouging. The more it sells for, the more they make. Business is business.
“Fair and true market value” is whatever the highest bidder is willing to pay. Once that is established, Aguch has the din of a bar meitzra, and is entitled to buy the property if it is willing to match that bid. If it’s not willing, there is no reason why the owners should give it a discount. They’re entitled to every dollar that it’s worth.
The Itkin family who suffered so much in recent years l”a should put the house up for auction, i believe they can get well north of 2 Million – and they sure deserve it!!
Good Luck 🙂
Aguch and Merkos should buy it for what ever price. this is the chance to grow the Rebbe’s library. maybe if they spent les on legal they can have more to buy this for the Rebbe’s library
Something doest seem right.
The rebbe cried so much for that Library, the rebbetzin practically gave her life for it. The only option for the library to extend is to that house. How is it even thinkable for that house to be sold to any one else?? on the open market?!?!? The family who own it are of the most chassidishe people around, I doubt they would put it on the open market
they are NOT accepting $1.5 million. I know someone who put in that offer and they said they already got a higher offer and are looking in the 2 million figure and needs a total gut job.
770 should buy it and extend.
this house should be bought by 770
they don’t have an asking price yet
they have to put a price and the shul buys it
I would think, al pi Torah (as well as decent common sense would say), first choice for purchasing that home should be given to the Rebbe’s library. Not to judge anyone, but I would also think that price gouging would not be fair here, nor would it be the right way to determine the price, if Rebbe’s library has interest in purchasing the home. If the Rebbe’s library is ready to pay fair and true market value it would seem, again, al pi Torah (as well as decent common sense), that first choice for purchasing it should be given to… Read more »
We all know the Rebbe wanted it for the library, and the only place the library can expand is there.
As the Rebbe said “גיי רייד מיט אזאמען מענטש’ן – ס’איז ניטא קיין שפה המשותפת – ער פארשטייט נאר געלט”
enough said,