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March 27, 2009
Check Oout This One
I'm not sure if this link works. The NY Times listing says it's in Bushwick but it may be East NY. Price only $299K. It looks like someone could have a fun little reno project here
http://realestate.nytimes.com/sales/detail/2156-129014/brooklyn-ny-usa/SINGLE-FAMILY-type/100000-1000000-price/PRICE-HIGH-sort/450-p/2156-129014--2942-BL20292--2156-111021--2156-828011--2156-828032--2942-C21BL20158--3501-342215--25-NY595358--403-341312--2136-DP90124282-ls/567-t
Comments
Bessie, the link doesn't print out in full on my monitor so I can't use it. I am seeing a house in Bushwick today that is about that price. Wonder if it's the same one.
Posted by: mopar at March 28, 2009 10:06 AM
mopar, try this link
http://snipurl.com/eutp0
Posted by: the chicken at March 30, 2009 8:44 AM
this is very much in bushwick, tho it's on the far southern side. bushwickbk.com posted on it:
http://bushwickbk.com/2009/02/18/bushwick-house-of-the-week-151-cooper/
Posted by: Jimmy Legs at March 30, 2009 12:17 PM
Yes, Chicken. That one. Thanks.
Posted by: Bessie at March 30, 2009 3:15 PM
Oh! Got it!
Different house. The one you posted is in the middle of nowhere. BushwickBK blog has been fantasizing about turning it into a "country store" and restaurant a la El Almacen in Williamsburg.
The one I saw this weekend was a real cute sweet tiny two-family with tons of built-ins and bad vibes. Vandals (?) had ripped out the plumbing, former tenants (?) had scrawled anti-landlord graffiti on the walls, there was feces in the basement, s**t smeared on the tub, etc. But it's only $250,000 so would be really no problem at all to buy with very little down (3 percent FHA loan) and a construction loan and come in well below or at market with a completely renovated house. Location was good.
Real estate agent said the foreclosures are going fast.
I believe it. These prices are good. We're not up for such a project, but the financials are very attractive. I haven't done all the math but I think even with a $100,000 construction loan your carrying costs would probably be only about $1600 a month. That's great.
Posted by: mopar at March 30, 2009 10:37 PM
P.S. The one you link to is probably very old and on an old crossroads from when the area was open farmland.
Posted by: mopar at March 30, 2009 10:38 PM
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