House of the Day: 181 Bergen Street
After the typical winter slow period, we’re seeing a lot more new properties coming onto the market this week. Though so far, it’s still mostly wrecks and flips. This landmarked Boerum Hill red brick Italianate has a lot of intact original detail, including doors, mantels and fancy plaster work, but will need a “full renovation,”…
After the typical winter slow period, we’re seeing a lot more new properties coming onto the market this week. Though so far, it’s still mostly wrecks and flips.
This landmarked Boerum Hill red brick Italianate has a lot of intact original detail, including doors, mantels and fancy plaster work, but will need a “full renovation,” according to the listing. We’re guessing that will include the stoop, which looks to be spalling in the photo.
The floor plan shows a double duplex setup. But there is already plumbing and room for a kitchen on the parlor floor, if a potential buyer prefers a triplex over a garden rental. Cash buyers are “preferred.”
Given the work it needs, do you think the ask of $3,495,000 will fly?
181 Bergen Street [Corcoran] GMAP
I’ve been looking for a Brownstone in this area for a while – something I can renovate myself. Amazing location and price isn’t too bad! Definitely something I’d be interested in purchasing.
Just got our partly renovated place assessed. Boerum H real estate now seems to be 1,000 (and up) a square foot in pretty much any condition. . . . Is Cobble Hill really 1/3 more? I doubt it.
3.5 mil for a fixer upper?
Up over 200% seems quite high as an estimate. That would mean that houses which traded for 1M back then would trade for 3M now. Personally, I think the lowest point was mid 2009, in the depths of the credit crunch. I bought an apartment in Park Slope about 15 months after, in Sept. 2010, for 700K, and sold it last July for 999K. Maybe it would have been 600K in 2009 and maybe it would go for 1.2 right now. I highly doubt both assumptions, but let’s say they are facts. That would be 100%, which is crazy enough. 200% is just not in the realm of reality. Neighborhoods that have been red-hot, like Windsor Terrace or Crown Heights or BedStuy, maybe you’ll see 120%. Tops. But hey, that’s appreciation enough, mind-boggling, unhealthy and low-rate driven appreciation.