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July 5, 2006

House of the Day: 230 Greene Redux

house house
We just got word that the June 26 House of the Day, the four-story (we called it three and a half) brick at 230 Greene Avenue, has had $200,000 slashed of its original asking price of $1.1 million. When we wrote about it a couple weeks back we thought it needed to come down by at least $100,000. Now that we've got some interior pics to look at we're going to go out on a limb and say that this looks like a very strong buy to us if the price has indeed been cut to $900,000.
230 Greene Avenue [Aguayo & Huebener] GMAP P*Shark
HOTD: Lesson in Poor Marketing [Brownstoner]




Posted by Brownstoner at 11:34 AM | Comments (10)
Categories: Properties

Comments

What did they say in the stock business ? If you like it at 20, you must love it at 15...right ?

Posted by: djr at July 5, 2006 1:02 PM

The A&H Web site still says $1.1M; not sure if the price was really reduced?

Posted by: Anon at July 5, 2006 1:30 PM

Check your source. If it checks, then...

"Oh sh**. The music stopped. There goes a chair. Run for it. No, dive for it."

Posted by: Anonymous at July 5, 2006 1:41 PM

I don't know, it's still 900 grand for a crap block on a 2-way street with a bus route. You're paying a lot to be close to a nice neighborhood w/out really feeling like you live in the nice part.

Posted by: Drew at July 5, 2006 4:25 PM

Naw, this would be competitively priced. 900 for move-in? Unheard of anywhere near Clinton Hill for 17x100 4-story in quite a while.

Posted by: Anonymous at July 5, 2006 4:36 PM

What am I missing, here? Is $350 to 385 psf in CH too high these days?

Posted by: crouchback at July 5, 2006 5:51 PM

This is actually a great stretch of Clinton Hill/Bed-stuy. I've lived here for years. It used to be shadier, but with the new Choice Market a short 2 blocks away, 2 other greats bar/restaurant spots as well (Dakar and that little red place), a deli owner on the corner of grnad and greene who;s nice to everyone in the neighborhood, how could you want more in a block? There's lots of construction and rennovations being done on buildings on this block, I think showing the great interest in the area. I think this building will sell, and sell well. I wish I could afford to buy it!

Posted by: jaf at July 5, 2006 6:30 PM

I'm not knocking that general area, I like it there. But that block is not great in my opinion, for the reasons I said earlier. There is a lot of construction around me in Bed-Stuy too, but that doesn't make every block a great one. And I doubt it is in move-in condition or they wouldn't be marketing it to investors. Even at 900K, a buyer is still paying a higher price to be within the technical boundaries of Clinton Hill, I mean they call CH "prestigious" for cryin out loud. I just don't think the house is that much of a steal.

Posted by: Drew at July 5, 2006 7:20 PM

Take a look at the listings, a condo further into bed stuy (classon and Greene), 4 br, 639k, with 800/mos.maintenance....
Do the math. This house is a steal at 1 million.

Posted by: anon at July 6, 2006 8:45 AM

Classon and Greene is half a block further into Bed-Stuy. I checked the listings, and a 4 bedroom condo for $639K sounds like the steal to me. You'd be paying way more than that for a 2 br in the parts of Clinton Hill that are actually nice. But comparing condos to houses is tricky because they each have their own advantages/disadvantages.

Posted by: Drew at July 6, 2006 10:26 AM

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