Park Slope’s Formerly Pink House Flipped!

Park Slope’s famously formerly pink house is back on the market! It sold in October for $2,075,000, and now the owners are asking $4,795,000. We’re surprised to see developers buying houses at such high prices to flip. Not only did they paint the exterior brown with Landmark’s approval, they also redid the mechanicals, including adding central air, and renovated the kitchens and baths. The wood work has been cleaned and restored — and actually seems to have changed from a mahogany finish to oak, which is slightly puzzling, since it doesn’t seem to be painted. There don’t appear to be photos of the ground floor rental, but going by the floor plan, it looks like they may have ripped out the first-floor dining-room built-in to make way for the kitchen. As for the upstairs bathrooms and pass throughs, we’re not sure if they were there to start but they’re not now. On the plus side, we have to admit, that bathroom with marble tile up to the ceiling looks pretty good to us. Not to mention the staging is beautiful. What do you think of the re-do and the new price? Are such high-end flips good for Brooklyn?

233 Garfield Place [Halstead Property]
Pink Flip! Townhouse on Sale for Nearly Twice the Purchase Price [TRD]
Park Slope Pink House Is Now Officially Brown [Brownstoner]
House of the Day: 233 Garfield Place (2012) [Brownstoner]
House of the Day: 233 Garfield Place (2009) [Brownstoner]
Rental of the Day: 233 Garfield Place [Brownstoner]

19 Comment

  • Maybe I’m crazy, but if they want a 2.4 million profit first thing they shoulda done was redo the facade, not paint it

  • no-permits

    what an odd choice for the kitchen cabinet color.

  • Arkady

    The listing says one family but a lot of emphasis is placed on the lower rental. No mention of C of O.

  • That
    That is an amazing reno. The interior was a wreck. But it still has NO backyard. Really none. +-5M. What on earth.

  • You are crazy. Let the next owner do the facade work. Dealing with Landmarks, DOB, rigging, masons takes a long time and plenty of money. Flipper doesn’t need to do it in order to sell. Restored interior woodwork and sparkling halogen lights with simple staging will sell this baby fast. 2.4 million not profit, duh! Deduct his additional investment for improvements. The speed in which he transformed this place is the story. If all goes well, he will be in contract or close in under a year.

  • I don’t know if it’s good for Brooklyn or not (honestly — does it matter if the price is $3M or 5M), but they are not going to get anywhere near this asking price. $4.8 million is a crazy price for a fine but not spectacular property, even with the CAC and generically high end finishes. How many 1 or 2 family houses have sold for over $4M below 8th Ave? Maybe the J Crew owner’s house and that’s it. (Even above 8th Ave it is only a handful.)

    Maybe that house on 6th Avenue that was the old Swedish Club actually found a buyer (it’s listed as unavailable on Streeteasy) above $6 million and that’s driving this price.

    Frankly they might have more buyers’ interest if they left it pink. A new owner can always get Landmarks to go along with boring brown, but there is no supply of pink houses in the slope.

  • Agree outside needs rebrownstoning – that’ll cost a chunk of change for a new owner who cares about what the outside looks like (not all do). Would think a live-in single family owner WOULD care, especially at that price. Surprised they didn’t go condo – would probably get closer to their asking price if they sold it as parts.

    Also odd they did the lower floor as a rental – would think that not as essential in this price range. Still, a single family owner can always use the lower level as is, as family room or guest suite/in-law apartment, though I’d want to drop a stair outside from the parlor floor deck to be able to acess my backyard (such as it is) from the parlor level kitchen.

    Odd kitchen choices – would want to redo that for sure.

    Mahogany woodwork was likely an original faux finish to look like the more expensive mahagony – it looks better with the stipped original wood, be it oak or some other light colored wood.

    Will likely sell for somewhat less than ask – to someone with the $ to make the above changes.. A larger yard would be nice, but houses do sell without.

  • daveinbedstuy

    WOW…except for a few minor design fauz pas (the bathroom vanity cabinets) it’s gorgeous and well done

  • rh

    I liked it better before. Especially the exterior.

  • Cate

    If anyone sees this place in person, I would love a report on whether the wood work is actually oak, or if it is poplar, and how they finished it.

  • The Open House hours are unusual …