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Here’s an interesting one. It’s a four-story Renaissance Revival brownstone, at 176 MacDonough Street in Stuyvesant Heights, with eye-popping details and a serious catch: It’s classified as an SRO, or single-room occupancy dwelling.

To start with the positive: The place looks spectacular. It’s got ornate woodwork, wainscoting, pier mirrors, crown moldings, bay windows, and six mantels of carved oak and mahogany, with period tiles laid alongside. The listing says it’s got some original light fixtures, which would make them over a century old.

What’s in the pictures looks to be reasonably well preserved, too — but there’s plenty that isn’t depicted. And when a listing suggests you “bring your preservation architect” and emphasizes that the house is being sold “AS-IS,” it seems a fair guess that there are a few rough spots. It’d be interesting to see what, and where.

Then there’s that C of O. Did we mention that it’s an SRO? The listing – from Halstead broker Morgan Munsey – says the house has been occupied as a single-family for the past decade, so presumably it comes without tenants.

Still, there’s a hornet’s nest of potential complications there, from financing issues to a possible need to try to change the C of O, a prospect as alluring as eating the glass from one of those pier mirrors.

What do you make of it, and the asking price of $1,400,000?

176 MacDonough Street [Halstead] GMAP
Photos via Halstead

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What's Your Take? Leave a Comment

  1. lots of potential but this will need to be all cash and not sure how many buyers in Bed Stuy there are with $1.4M to put down

  2. lots of potential but this will need to be all cash and not sure how many buyers in Bed Stuy there are with $1.4M to put down

  3. “a possible need to try to change the C of O, a prospect as alluring as eating the glass from one of those pier mirrors.”

    So poetic!

  4. “a possible need to try to change the C of O, a prospect as alluring as eating the glass from one of those pier mirrors.”

    So poetic!

  5. Beautiful place. And very affordable at $1.4M. All you need is a smart cash buyer; they can live in it while going through the process of converting it from SRO and obtaining a new C of O. This is a great opportunity.

  6. there is a difference between “cash sales” (with 70% of the purchase price financed by a bank at closing) and $1.4M cash with no financing since few lenders will touch an SRO. someone is going to have to use $1M+ of their own cash to make this happen

  7. there is a difference between “cash sales” (with 70% of the purchase price financed by a bank at closing) and $1.4M cash with no financing since few lenders will touch an SRO. someone is going to have to use $1M+ of their own cash to make this happen