Sourcing Ipe Decking

$40k investment to get $900/month increase? I am not familiar with how this works, but is this a good expectation for ROI?

Seems like it is a little low on the upside (though i am admittedly ignorant). Does anyone have a sense of the norm?

Glad you are happy though, and even happier you found a decent contractor.

Posted by: downtown_denizen at July 22, 2008 12:04 AM in response to South Slope Renovation

Are there really 2 PTAC units in the bedroom? And am I missing something or are they hovering off the floor? This is a luxury building? What is up with that?

Posted by: downtown_denizen at March 25, 2008 5:24 PM in response to Condo of the Day: 206 Front Street

Biscuit is renovating and changing names, chefs and floor staff. Keep your eyes open in about a month and it will be all shiny, new and much, much better.

Posted by: downtown_denizen at February 20, 2008 3:25 PM in response to Closing Time on 5th Avenue

According to the Architect's website (http://www.sbjgroup.com/, no direct linking but look under projects, residentia) this is to be a condo.

Posted by: downtown_denizen at December 19, 2007 3:14 PM in response to Any Takers for 189 Schermerhorn?

Am I that out of touch that $960k still seems like a lot of money to me? Who is buying these places?

This is not a rant against Crown Heights. I like the neighborhood just fine. It just still seems like a lot of cash.

Posted by: downtown_denizen at December 6, 2007 10:44 AM in response to The Real Deal: A Dose of Reality for Crown Heights Market

Sometimes it is better to be at the bottom end of a higher price range than the top end of the lower price range.

Maybe they raised the ask to put the listing in the next higher grouping?

Posted by: downtown_denizen at November 1, 2007 9:49 PM in response to Confused About Pricing Strategy

Could someone please explain the relationship between the architect and the developer once the project is under construction?

I can't say I care for most of (if not all) Mr. Scarano's buildings, but lets be fair it may not be his fault. Maybe he IS the go to guy for cheap developers who play fast and loose with zoning. But does that mean he has anything to do with the unsafe conditions or shoddy work?

While there is a "lie down with dogs" argument to be made there, it may not be as clear cut.

I hope someone on the board (other than Mr. Scarano himself) might shed some light on the situation.

Posted by: downtown_denizen at October 11, 2007 9:19 AM in response to Scarano: Licensed to Ill?

I think the biggest issue with Van Brody on this board has to do with mismatching aesthetics, and some of Mr. Brody's rather dubious design choices.

The Atlantic is, while not spectacular, not too terrible, and the building at 647 Washington is alright. But the condos at 489 Atlantic are pretty spectacularly bad, even at half the price they are asking. Has anyone bought into this white elephant?

Interestingly, this building is developed by his son, so perhaps they are both incentivized to not cut too many corners (a la Mr. Scarano) and ruin the family name.

Posted by: downtown_denizen at October 6, 2007 4:34 PM in response to 457 Atlantic - Van Brody

Have you checked NYC BIS? Always a good source of information.

There seems to be a rash of new construction bldgs waiting to be approved. No inspections, CofO's (even temps) taking forever. A friend of our told us that there are only a couple of inspectors for Brooklyn and the glut of condos coming on the market is making things take longer.

We've been in contract on a place since February that looked done when we saw it the first time, but seems to be stuck in amber.

Posted by: downtown_denizen at August 26, 2007 11:21 PM in response to 242 Greene Ave Shoe Factory Lofts

Well for every $4,000.00 spent you should expect an can get an increase of rent of $100.00 per month, so i'd say im pretty much on track, with annual rent increases I'd say its a good investment. They re-did all of the plumbing, electric, leveled the floors by replacing / joining the joists & supporting the beams with new posts in the basement, everything A-Z is new. In reality, the necessary replacement of some joists & post additions in the basement cost me roughly $8,000.00, so construction of the apt was about $32,000.00. So in the end i am happy for the great job, the increase in rent, the additional structural support to my property, good tenants and no court with contractors :) You've got to spend money to make money. The building is paid for, as soon as I have another empty apt I am going to renovate. We are "original" Brooklynites raised in park slope, we paid very cheap for our properties in the 1970's & 1980's when Park Slope was a gang infested neighborhood ghetto that no one was interested in. So a lil spent here & there doesnt hurt.

Posted by: caseycrespo at July 22, 2008 12:27 AM in response to South Slope Renovation

Based on the $32,000 allocated to the unit, the additional $900 per month gives you a payback of less than three years! A great example of why well thought out real estate investment is still one of the best investments!!!

Posted by: daveinbedstuy at July 22, 2008 9:09 AM in response to South Slope Renovation

Congrats! I'm just sad you didn't keep the tin ceiling :(

Posted by: hangonsloopy at July 22, 2008 10:04 AM in response to South Slope Renovation

Thanks Dave in Bed Stuy, I look at the big picture when it comes to investing some money.

I was sad to see the tin go also, but the ceiling was very damaged & would cost more to repair than what it was worth. In some higher end apts I would consider spending the extra cash. I was investing in straightening out the floors & didnt want to see a slanted ceiling. Oh well, what can you do... At least now I have straight lines.

Posted by: caseycrespo at July 22, 2008 6:14 PM in response to South Slope Renovation