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September 1, 2008
two family in brooklyn????
Hello, I guess I was crazy to think this but is possible but can I find a affordable 2 family house with a decent commute in NYC? I am single so don't need that much room and would do some renovations. I just want help in paying the mortgage. 600k - has anyone else had success with this? any advice? no brokers please, I would like real people experience. Thanks
Comments
I have been looking for awhile (same price range as you) and have not seen anything that was not in a bad state of disrepair or just gross. I recently put an offer in on a small one-family in Bay Ridge. The place is immaculate, the block is quiet, there's a park, restaurants, and more nearby. While the commute is longer, I think the quality of life will be better.
Posted by: Cantaffordcarroll at September 1, 2008 3:32 PM
I've seen two things recently in Brooklyn for the mid 600 range, one was in Red Hook and one was in that sort of no-mans-land between Park Slope and the Gowanus Third to fourth Aves. and both in my opinion were tear downs. If you are firm in what you are looking for, be ready to act on a moments notice. If you hear about something that you think will match what you are looking for, don't wait for the weekend, go as soon as possible with your checkbook, because it will go quickly if it is in anywhere near decent shape.
Posted by: Bond at September 1, 2008 4:04 PM
Keep looking in the Bay Ridge or sunset park areas. with the pending housing crisis things will become available. Bay Ridge will tend to hold it's value better than Sunset.
Posted by: SenatorStreet at September 1, 2008 5:18 PM
Sorry, I should have qualified my comment to include neighborhoods near Manhattan. If you are willing to go a little further into Brooklyn, you will definatly increase your chances. I agree with SenatorStreet about Sunset Park and Bay Ridge, two nice areas with some good values.
Posted by: Bond at September 1, 2008 5:33 PM
thanks - this is great. what places should I stay away from? I think Red Hook is too far and isolated.
Posted by: Clarabelle at September 1, 2008 6:22 PM
i'm selling my brothers house maybe in a few weeks its only a 1 family with garage close to bensonhurst and dyker heights for 480k.
Posted by: armchairwarrior at September 1, 2008 7:52 PM
A two-family in move-in condition in Bay Ridge for $600k is gonna be a tough find, even now. Bay Ridge two-families typically start in the high 700s.
Red Hook is a lot closer to Manhattan than Bay Ridge but suffers from lack of a subway. By day, though it's got ferry service to/from lower Manhattan (5 minutes). If you can find what you need in RH for $600k, I'd go for it.
Posted by: Steve at September 1, 2008 8:14 PM
Unless your working in the Wall Street area or willing to drive everywhere I don't think Red Hook is feasable. I am also very sceptical that you could come up with a two family for 600K or thereabouts in that neighborhood.
We just bought a detached single family in Midwood, where many people have illegal sublets for 585,000, mind you the house needs over 100,000 in renovations.. so I think 600,000 is really optimistic...
GL,
Lauri
Posted by: Brooklyn11218 at September 1, 2008 9:51 PM
What are thoughts about an illegal sublet? How strict are the rules and is it a huge hassle?
Posted by: Clarabelle at September 1, 2008 10:34 PM
if you're really serious about considering Bay Ridge (and I think you could find what you're looking for here, you can rent the basement as an apt. for income), then you need to come and walk around the neighborhood and take note of all the realtor signs outside of houses. A lot of Bay Ridge real estate is done locally, not on the internet.
Posted by: mdmh at September 2, 2008 9:48 AM
ok thanks good to know! I will do that.
Posted by: Clarabelle at September 2, 2008 1:09 PM
I live in Bushwick about a block from the L train - a 20 minute ride to Union Square. I have seen a couple of two families in my area that are in decent shape for under $600K. The neighborhood is fairly safe - especially if you are closer to Ridgewood than Bed Stuy and the commute is great.
Posted by: JoeBushwick at September 2, 2008 1:59 PM
You may be able to buy something in Crown Heights... Big, beautiful old houses and nice mix of people
Posted by: CrownGardener at September 2, 2008 8:59 PM
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