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May 24, 2009
Went to open house 17th and 5/6
What do you guys think of this property? http://www.trulia.com/property/1079129693-292-17th-St-Brooklyn-NY-11215
Its going for 625k. Its ridiculous! The place is completely worthless inside... Its a total demolition job. What would something like that cost? The RE agent said 150k to fix it up. Didnt seem like it. Did anyone else see this spot this weekend?
Comments
If it's in the neighborhood you want and are willing to do a gut renovation, including facade... Take the broker's renovation estimate and double it, then see what you think. It does have a big garden...
Posted by: Misty B at May 24, 2009 6:20 PM
I can't speak to the price, but it's a great area and a relatively quiet street. Close to everything (train, bus, bars, etc.)
Posted by: InsertSnappyNameHere at May 24, 2009 6:43 PM
I don't know the exact block, but compared to six months ago (when I was looking for a fixer in a decent location, and found one), that place is cheap. If the foundation and primary framing are solid, and you're not scared of a project, I'd give it some thought.
also, I suggest bringing in a contractor or two to get their opinion as far as cost. Don't listen to the realtor.
Posted by: cottontop at May 24, 2009 9:31 PM
Curious what's the matter with it: Electrical, plumbing, foundation, roof, windows? Or just Home Depot baths and kitchens in terrible condition? Is there any original detail such as doors, trim, molding, stairs, etc.?
Posted by: mopar at May 24, 2009 10:04 PM
Overpriced if you ask me. More like 300k to do a gut. The entire place is 1700 sft? Including the apt? Barely big enuf for a family if you take the whole house, if you don't may as well buy a condo.
Posted by: denton at May 25, 2009 5:50 AM
mopar... the place was gutted. no kitchen, no walls, no stairs... it smelled nasty, probably molding... a contractor that was checking out the house too said it was pretty much a demolition job... the only plus was the HUGE backyard.
Posted by: guikazoid at May 25, 2009 11:14 AM
Misty B. There was a contractor checking the place out he said it would be around 500k and at least a year to fix this place up... if his estimates are correct thats 1.1mill... seems a bit much :)
Posted by: guikazoid at May 25, 2009 11:21 AM
is the yard huge, or just the house small?
Posted by: cottontop at May 25, 2009 8:17 PM
Heavens! Offer $250,000. Or if you're interested in such properties, there's one for sale now in Bushwick for $250,000. A very small two family with cute built-ins, needs to have footprint of baths enlarged slightly, new plumbing, prob new floors throughout. But it has walls and stairs. If it was in decent condition, it would be worth about $400,000.
Posted by: mopar at May 25, 2009 11:37 PM
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