House of the Day: 204 Park Place

204-park-place-brooklyn-0813

This five-story, five-family Prospect Heights Italianate brownstone is quite large at 21 feet wide and 50 feet deep plus an extension on two floors. It is divided into five floor-through apartments, each with two bedrooms. Based on photos and the floor plans, it appears that some of the details, such as the front doors, mantels and shutters, have survived, but not floors or much in the way of plaster work. The kitchens and baths appear to be in good rental condition. It sits on a 131-feet-deep lot with nicely landscaped front and back yards. A similar place next door, with the same owner, closed for $4,300,000 in June. This one is asking $4,000,000, and it is vacant. Do you think it makes sense as an investment property or is it ripe for a renovation for an owner-occupant?

204 Park Place [Marcus & Millichap] GMAP

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