House of the Day: 413 Sterling Place

There was an open house at 413 Sterling Place yesterday, which we're hoping some of you attended cuz the listing doesn't provide any interior photos. (It does, however, include one nice data point that others should: date listed.) The 3,000-square-foot, three-family house is asking $1,600,000. If the were in great shape this would be an interesting price. We're betting this place hasn't been touched in years. (Certainly no central air, judging from the window a/c units.) That said, we dig the rounded bay windows and the proximity to the park is sa-weet. How 'bout it? Who's been inside?
413 Sterling Place [Washington Realty] GMAP P*Shark
Photo by Krista Kujat for Property Shark

Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/606

Comments

If it's nice inside it could be a good deal for the right buyer.
I doubt if the $1,700 annual taxes is accurate, but as Mr. B has documented some brokers are allergic to the truth!

Posted by: tripster at February 26, 2007 12:45 PM

Washington Realty Stinks! They have lied to me on numerous occasions…FYI-I just looked up the taxes and they closer to $3700 a year…..a legit broker would have known how to look that up.

The house is on a lovely block however, and looks very nice from the outside.

Posted by: Anonymous at February 26, 2007 12:53 PM

No pics could be due to the laziness of broker.

Posted by: Anonymous at February 26, 2007 1:26 PM

It's narrow! Sounds like a good price to me, even if there's no central HVAC. Normally in this type of brownstones the wiring needs to be updated as well. Hopefully the cellar is finished / kitchens renovated. I haven't been inside, but judging from the location and the outside looks I'd say that $1.6M is on or slightly below marketprice.

The taxes remain questionnable though. I'm paying $3200 for a similar house.

Posted by: anon at February 26, 2007 1:29 PM

It's been de-stooped.

Posted by: Anonymous at February 26, 2007 2:21 PM

My wife and I went to that open house. We look at the ground floor and left. Lots of dog manure in the backyard. The garden floor bathroom had a curtain for a door. It's a real flop-house. Not worth the money they are asking in any way shape or form. Especially since it's lacking the stoop. I would guess a million and a half of repairs would make it look nice again.

Posted by: Happy at February 26, 2007 5:38 PM

"A million and a half in repairs" is a pretty tough assessment of any house having only looked at the 1st floor. A 2 dollar shovel and the plastic bag can it came in can solve the dog shit problem. Does the other 1499998 go into a complete gut? Anyone else see it?

Posted by: Anonymous at February 26, 2007 6:48 PM

washington realty = deranged

Posted by: Anonymous at February 26, 2007 7:39 PM

"Does the other 1499998 go into a complete gut?"

You answered your own question.

The broker was also completely incompetent. If I am going to write someone a 1.6 million dollar check, I need to know that that person is competent. It was the worst run open house I have ever seen.

Posted by: Happy at February 26, 2007 8:55 PM

I would really appreciate a little input on how Mr. B or others with experience gauge costs to renovate/restore a brownstone. I intend to purchase in the next year or so and most of what I see needs a lot of work. Are there any traditional figures... i.e. figure $100k per floor for gut. Just looking for some guidance.

I see some pretty nice exteriors that appear to be in good shape in decent areas of Park Slope and Cobble Hill. However, most are set up as multiple families and generally look like crap. A few have decent period details waiting to be brought out.

I would truly appreciate any advise and/or insight.

Thanks

Posted by: Anonymous at February 26, 2007 9:48 PM

The discussion on this topic is too voluminous to mention

Posted by: Anonymous at February 27, 2007 8:21 AM

What kind of a question is that 9:48pm?

It's like asking how much a car costs. Do you want a used Buick or a new Rolls Royce? What do you expect to hear?

Simple Answer:

If you go middle of the road and find reliable contractors, 100k per floor is a fair budget. You can spend a lot more or a lot less. It depends on Pablo, Hanz, Micky, Wei-Ping, Tyron, Frank, or whoever else you decide to hire.

It also depends on what materials you use and whether you plan to do a period restoration or just gut and renovate.

Deciding what you want, pricing the fixtures and materials, and getting estimates from contractors, carpenters, plumbers, designers, or whoever else you want to hire is how it's done.

Posted by: Logicous at February 27, 2007 10:44 AM

Hey 9:48am, Time to do some leg work! Start reading "Forum" on this website and researching the archive. Check out last week's NYT House & Home section on renovation. Talk to real estate brokers with years of experience selling brownstones. Call architects and GCs. $200 a sq ft is typical for a medium-to-high end reno (but less than full on luxury and/or extensive restoration of period detail).

Posted by: NeoGrec at February 27, 2007 12:52 PM

« Condos of the Day: 231 Bergen Street Brazen Head Keeps Cask Ale Local »

February 26, 2007

House of the Day: 413 Sterling Place

Trackback Pings

Comments

Post a comment

Latest Restaurant Additions