6 Comment

  • re:Hoyt Street. So how does an LLC pick up property like this that never seemed to be on open market for
    $1.36m and month later put on back on market for $2.2? doesn’t look like any renovation other than possibly some new kitchen cabinets.

  • Elderly woman lived here until a couple of months ago, her family facilitated the off market transaction. Don’t believe there was any broker involvement. Renovation to date has basically been demo and trash removal, and then fixing up the two-family separation between the two units. And a coat of paint. House next door, with a nicer layout and in better condition (move-in ready), sold for $1.725 in December. Is this $2.2 million price doable?

    • No. Not doable. Whatever money flipper spent to clean up (not much) doesn’t add any value since needs total
      reconfiguration and renovation. Corcorans other listing that haven’t been snapped up nearby are better value than this one. Other on on Hoyt and the one on Douglass for same amount are both wider. Douglass St admits needs total gut but at least on side street and lot of FAR to build out.
      Other Hoyt Street has more detail and less reconfiguration but still needs more work.
      Flipper will make profit easily but not until these others are sold and we see what those prices are.

  • Oh, and they fixed up the rental until upstairs.

  • The LLC flipper is probably one of the “I can buy your house all cash” vultures.
    They prey on senior citizens or families that live out of State that are naïve to the real values. I heard of a really despicable one recently on the corner of Bedford & Midwood, I would not be at all surprised to see that on the market soon at over 2,000,000+ they paid just under a million for it. Thieves.
    By saving a 5-6% commission they loose normally 30-40% of the value, but the vultures are getting greedier and greedier I have noticed lately.