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August 17, 2007

Small Condo Conversion in Carroll Gardens

74SecondPlace.JPG
Homespun condo action, Carroll Gardens edition: The owners of 74 Second Place are in the process of converting their five-story, double-wide townhouse into four condo units. According to the construction crew working on the project, sales on the three-bedroom, two-bath apartments will start later this month. The landmark building dates back to the early ’20s, and since the units are going to be floor-thoughs they’ll probably each stretch a couple thousand feet. No word yet on prices. With all the massive condo developments going on in Brooklyn, it’s always interesting to hear about a small-scale conversion. Anyone out there contemplating—or in the process of undertaking—a similar project? GMAP P*Shark




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Comments

If this is the same ones as the ones being touted on craigslist as a 4 bedroom and 3 bedroom, then they are around 1 million.

I'd say thats a pretty good deal if the conversion is ok. The only question mark is the layout, the quality, the light, the floor plan, the monthlies and the mortgage ;)

Posted by: guest at August 17, 2007 12:36 PM

Yes Im converting mine on clinton street, however Im not changing the front face of my home. They will be two bedroom Luxury Condo and both will have a 7"x10" balcony and the top floor will have a 20x15 roof deck theyre both 1022 Square feet. I will let you know when we have an open house

Posted by: guest at August 17, 2007 1:49 PM

Awaye Realty have been listing these condos for a few weeks now on both their website and craigslist. I tried setting up a time to see them, and they never answered my calls or responded to emails -- from all accounts I hear they're not to be trusted, so maybe for the best.

Posted by: guest at August 17, 2007 2:29 PM

It looks like there is a similar project going on in Ft Greene on the corner of Dekalb/Portland. They've been working for a few months now, looks like it will be 3 or 4 floor throughs. Anyone have any info on it?

Posted by: guest at August 17, 2007 2:56 PM

I saw the ones on DeKalb and S. Portland for sale on some site but I can't find it now. I think they were somewhere near 7 - 800 k

Posted by: guest at August 17, 2007 3:04 PM

What about noise in old buildings like these? For the money I don't want to hear neighbors inside or out.

I have real noise issues with my current condo. I'd like to move out.

Posted by: guest at August 17, 2007 4:56 PM

Why would an old building be noisier than a new one? It's all a question of what's in the walls, and it really doesn't take much to put some quiet into a renovation.

Posted by: guest at August 17, 2007 7:11 PM

I was shown these apartments (we got in early - the reason awaye is not showing yet is the renovation is not yet done - not that it doesn't mean they are or are not trustworthy...) Anyway, no way they are 2000 sf - more like 1200-1300. Standard layout - smallish living room with an open kitchen area at one end, two bedrooms at the back with a full bath in the "master", and the 3BR edition has a 3rd bedroom like a den off of the living room. Sort of standard renovation, nothing remarkable.

That said, I have to complain about calling a small room off of the living room a 3rd bedroom - in what circumstances would someone use this as a bedroom? A family can't use it, the kids would be awakened right next to the living room, and it's too small for a couple. A share can't use it for the same reasons... I know it's a "legal" 3 bedroom, but it's like the "bedroom" I saw in the slope recently - a window and therefore legal, but too small to fit even a twin bed into!

Posted by: guest at August 17, 2007 7:32 PM

In a case like this, who "manages" the building? would there be a co-op board type arrangement or are the bldg owners the management company?

Posted by: guest at August 17, 2007 8:11 PM

FYI- I bought a house listed by Arlene at Awaye and found her to be really helpful and a total straight shooter. But I dont know any thing about that building.

Posted by: Chopper at August 17, 2007 8:43 PM

Anything in carroll gardens will sell the area has everything there is to don In NYC. What else does one need

Posted by: guest at August 18, 2007 12:12 AM

We are in the process of turning our four story/four family brownstone in Bed/Stuy (Halsey between Nostrand and Marcy) into condo's - submitting to the attoryney general in 2 weeks and hope to have on the market by the end of the year. Love seeing these "small conversions" too! From what we have learned in the process the condo conversion process definitely favors the bigger fish! Would love to hear stories of others who have done this - the learning curve has been steep.

Posted by: guest at August 19, 2007 12:00 PM

Small bedrooms are still bedrooms. In the "classic 6" configuration, the 6th room is technically a bedroom, but it's notoriously small.

It's often referred to as the "maid's room".

Posted by: guest at August 20, 2007 3:18 AM

Three partners and I are just finishing a small conversion of a 4 story/4 unit (22.5x44) building down the street from this 2nd place property. It has taken over 2 years, lots of cash, and would have been near impossible if I was not living there the entire time to supervise the various upgrades, surveys, plans, inspections, etc. that needed to happen. Anyway, we finally have our prospectuses so I can show by appt if anyone wants to see a unit...please email simplyhousing@gmail.com

Posted by: guest at August 20, 2007 12:30 PM

I'm glad one person had a good experience with Awaye Realty, but all I've heard is bad things about them and have been told to stay far away from Awaye Realty.

Posted by: guest at August 20, 2007 5:53 PM

This thread is not the freshest, but I am very curious about the condo conversion process. Where can I learn more?

I am wondering about investing in a small apt. building with another couple and gradually rennovating the units over time. We'd make two duplexes, and rent out the remaining units. I thought it would be good to have the option to sell some of the units as condos, as well as provide a framework for the two initial partners.

Thoughts? Perhaps it is too complicated?

Posted by: guest at August 26, 2007 9:45 AM

This thread is bit old, bu I'd also love to know the condo conversion process.

Posted by: guest at September 24, 2007 11:39 AM

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