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July 28, 2009

House of the Day: 226 Cumberland Street

226-Cumberland-Street-0709.jpg
You'd expect a house on Cumberland Street right off Fort Greene park to be priced higher than $1,150,000, but in the case of 226 Cumberland, the photos make it readily apparent why this one's not. (This place has actually been on the market for the past year, just not with Elliman.) The four-unit brick building has an unusual center window layout; it's also been stripped of whatever original charm it may have once had and is stuck with rental-quality finishes when it comes to the kitchen and baths. For someone who doesn't care about old architectural details, however, could this price present an opportunity to create a new one- or two-family from scratch?
226 Cumberland Street [Douglas Elliman] GMAP P*Shark






Posted by Brownstoner at 1:18 PM | Comments (21)
Categories: Fort Greene, HOTD

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Comments

Intriguing for the right buyer for sure. Hope somebody who wants to make a one or two family out of it buys it.

Posted by: wasder at July 28, 2009 1:23 PM

I've always figured this house once had a pressed metal decorative bay window down the center, before it was so rudely re-fenestrated.

It would take a little vision, but this is a great opportunity for a creative buyer.

Posted by: Stonergut at July 28, 2009 1:28 PM

she sure does need a plastic surgeon. I cant even look at it

Posted by: brickoven at July 28, 2009 1:37 PM

Painful and depressing but has potential.

Posted by: mopar at July 28, 2009 1:45 PM

Well, the "duplex" is including a basement/basement, yes? The "first floor" is actually the garden floor, though a bit higher than most garden floors. Looks like four rental units to me. Not a bad price for that, I guess.

Posted by: Nomi at July 28, 2009 1:46 PM

the down side to me is the width & not the details. details can be added but width can't. it's just too narrow but it's definetly priced to sell.

Posted by: bkny at July 28, 2009 1:48 PM

The owner of this building is actually renting several apartments out as short term vacation rentals. I think the C of O says its a 2 family, though. The building looks much worse in person than in these photos.

http://newyork.craigslist.org/brk/vac/1284994519.html

Posted by: DashPa at July 28, 2009 1:50 PM

WAIT ONE MINUTE.... Is Brownie and the Brownstoner Community beginning to suggest that you should actually get something better than OK for over a Million Dollars!?!?

This is groundbreaking. Perhaps the NY Times should be contacted!!!

Posted by: tybur6 at July 28, 2009 2:01 PM

The very definition of a butterface.

Note how they hide the exterior:

- http://www.flickr.com/photos/29482262@N07/sets/72157607202986979/

Posted by: DitmasSnark at July 28, 2009 2:28 PM

I agree with bkny - the 15' width is what's holding it back. And what looks like 30' depth. What does a 450 sqft one-bedroom rent for in Fort Greene? $1000 maybe?

I don't know, if I had money to buy, this is the kind of place i'd look at as an investment property. What do you need for deposits on investment properties these days? 30%? 25%. And then what's the interest rate...? Ah, who am I kidding.

Posted by: chuck at July 28, 2009 2:42 PM

what would each of those top three floors rent for each?

Posted by: the chicken at July 28, 2009 2:43 PM

Butterface. This site is so educational. At least for me. I've learn crotch fruit and now butterface here. What more can I ask.

Posted by: Nomi at July 28, 2009 2:49 PM

Chuck, go for it; buy a butterface. Think of your crotchfruit! In forty years when you might maybe be gone, your crotchfruit will have a paid off butterface.

Posted by: Nomi at July 28, 2009 2:51 PM

"...could this price present an opportunity to create a new one- or two-family from scratch?"

Sure. For a loss. $70,000/LF!? Width matters.

***Bid half off peak comps***

Posted by: Brownstones Half Off at July 28, 2009 3:01 PM

I love how they've totally redefined "English Basement" for us. Apparently it just means "basement" now since if you look at the photos there's a step down just to the garden level.

Finished basements grow mold.

Nonetheless, I'd been meaning to look into just how out of my price range this place might turn out to be. I kind of like it.

Posted by: serpentor at July 28, 2009 3:08 PM

> Butterface. This site is so educational.

Always happy to be of service.

Posted by: DitmasSnark at July 28, 2009 3:19 PM

Is a one-bedroom even a one-bedroom when the LR/DR/Kitchen are all in the same room? I expect a one-bedroom to have three rooms, and a studio to have one or two.

Posted by: mopar at July 28, 2009 3:46 PM

Priced as if each apartment would rent for $2K a month.

Forget that.

Posted by: Polemicist at July 28, 2009 4:13 PM

Nice building needing a bit of work. Cool staircase..would make a great 1 fam. real problem is the neighbors to the right who look like real slobs.

Posted by: crank at July 28, 2009 6:07 PM

Remember seeing this house with a friend more a year and half ago at the time it was priced @ $1.35m via Corcoran.
These pictures are completely deceiving given how much work is required here. An absolute dump, totally run down, extremely narrow and in need of a complete overhaul. That bottom duplex has a dark basement with mechanical room as it's first floor. The facade is a bad scar o that beautiful block.
To call this overpriced is an understatement. Not a penny over $900k and that's because of it's great location.
Btw the back yard is a good size:)

Posted by: pierre de taille at July 28, 2009 7:57 PM

We are looking in this area and were warned to avoid this home as it has NO C of O.

Posted by: FtoPresident at July 29, 2009 12:03 AM

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