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Our Hot Real Estate Listings column is pretty much dead, but we still cruise the MLS on occasion and this beauty popped up as the most expensive listing in central Austin right now (beating out 3 Niles Road, which has been for sale for a while).
It is the Allen-Von Boeckmann Building, a historical structure dating from around 1874 (the listing says 1869, but 1874 is pretty clearly carved into the cornice), at 811 Congress Avenue.
8,325 square feet with four bedrooms, eight baths, a balcony overlooking Congress Avenue, an elevator, a three-car garage and a roof-top pool. Plus, Subway is right next door. Actually, that Subway may have closed, but there is a Chipotle down the street and there are a few other fast food joints nearby.
More pics of the pool, the balcony, and the generally awesome modern interior architecture are included with the listing. We're not sure who would buy this, but whoever it was would be damn near irresistible after a few pitchers at Logan's.
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Oooh. That's the party-time fun house of Austin banking legend Eddie Safady. I've totally partied there and took pictures of the bathrooms... Lookie here!
I guaran-f'in-tee that some lobbyist will own this place pronto. Btw, bring back hot real estate listings! That was a good feature.
This is not Eddie's house. It's much better.
This is not Eddie's home. It's much better.
Ooh, I've been in there on a homes tour. Totally gorgeous place. Not for anyone who doesn't like stairs.
I guess Eddie must have bound and gagged the home's real owners to host extravagant parties for the literary crowd.
It's true, investment banking just isn't as prosperous as it used to be. But resorting to behavior worthy of a classless brigand? Why, why?!? Well, at least we had the '80s. God, I'm so disillusioned.
This is the Karbach home. Done a couple years post Safady on the block.
Yes, it's Dennis Karbach's place. Heritage Society gave it an award a couple of years back. Amazing home.
they should tear that shit down and put up a high density, multi-use, eco-friendly, downtown-living loft, brah.
It's already what new urbanists are looking for. It's high density, borders the sidewalk, part of a coherent walkable neighborhood, etc.
Yeah, and you don't have to share ANYTHING with ANYONE.
Right.
The listing mentions tax breaks. The taxes on 811 Congress are $13,347. Niles Road? $64,181. Dayum! +$50k difference?? Per year?? Those *are* some kinda tax breaks...!
Zillow has the taxes listed as 2006 Property Tax $32,328
TCAD had the assessed value at $1,999,669.00 for 2006, so if this sells for $7.5M, the taxes may be going up, exemption or not.
TCAD also confirms the current owner as Dennis Karbach. Old ABJ story on it here:
http://www.bizjournals.com/austin/stories/2001/01/08/focus4.html
Safady apparently owns 807 Congress.
The tax breaks are minimal, at best. The City gives these breaks but requires the structure be maintained and has sign-off on any changes to the exterior. To put it in perspective, the entire amount of tax breaks combined for every historic structure in this City does not reach the amount the City spent on one non-historic structure -- Las Manitas.
As someone else pointed out already, this is NOT Eddie Safady's place, but the one two doors down (right next to AMOA). EZS still owns his pad.
This has been on the market for at least a couple of months, and was featured on the luxist blog back in May (with the same confusion in the comments with regard to it being EZS's place).