Most recently used as a school, the four-story brownstone at 266 Stuyvesant Avenue in Bedford Stuyvesant still retains much of its original (and quite impressive) woodwork. It’s definitely going to need some work (how much, we don’t know) but it’ll certainly be an interesting barometer of the Bed Stuy market. Priced at $699,000, it’s in the first-time family homebuyer range for sure. In this market, though, we’ve got no idea whether this is a $699,000 house or a $599,000 house. Let’s think about the math: If you bought it at the asking price and put another $100,000 into it while racking up a $600,000 mortgage, your monthly costs, with taxes, would probably be somewhere in the mid-$4,000s. If you could rent a duplex out for, what, $2,000, then it could cost you less than $2,000 a month after tax to own this place. Not crazy.
266 Stuyvesant Avenue [Stuyvesant Heights Brokerage] GMAP P*Shark