House of the Day: 351 Adelphi Street
Whether it’s the bonuses or the fact that buyers are tired of waiting for the long-predicted bursting of the bubble, it feels to us like there’s been a perceptible uptick in market sentiment in the last few weeks. We don’t have any hard facts to back that up, but certainly the strong interest in 100…
Whether it’s the bonuses or the fact that buyers are tired of waiting for the long-predicted bursting of the bubble, it feels to us like there’s been a perceptible uptick in market sentiment in the last few weeks. We don’t have any hard facts to back that up, but certainly the strong interest in 100 Decatur Street showed that there a ton of buyers out there. The owners of 351 Adelphi Street apparently have figured this out and decided to raise the asking price of their Fort Greene brick house 10 percent. Back when we had it listed as an Open House Pick in October it was at $1,900,000. Now it’s $2,100,000. It’s a great looking house. We shall see.
351 Adelphi Street [Corcoran] GMAP P*Shark
Open House Picks 10/13/06 [Brownstoner]
Well 7:04 if Starbucks arrives you’ll have no choice but to wake up and smell the coffee.
Time moves on while you’re sleeping.
“I hope she gets it – it’s good for all of us.”
I think its terrible – all the affordable options are out the window. Our neighborhood is becoming another white-bread paradise. Soon we’ll have starbucks and it will look like everywhere else.
I’m anon 9:06pm. And I am not a friend of the owner at all. Just stating the obvious because real estate doesn’t work me up in to a lather like it does some of the people on this board.
8:14 am — I commend your high standards, I do. But this is reality. I am doing that kind of upgrade to my house, AND SOME, only because I will be living in it. What you’re asking for is something that no flipper will give you. That’s why so many people are willing to buy condos and/or horrible new-construction crap — peace of mind (they think) because it’s new. If you’re buying an old house, YOU HAVE TO ASSUME IT NEEDS NEW EVERYTHING. This whole “flipping” thing is a charade.
So all you buyers out there: get a wreck with character for cheap, invest 500 Gs, and be secure that you’ve got brand-new everything, to your taste and standards.
OR buy a new house.
But don’t get scammed by the flip. It’s borderline immoral.
According to city records, looks like this house was sold in June of ’06 for $1.4M.
I’m actively looking to buy a house in Brooklyn and have walked through 30+ homes in addition to doing lots of research and analysis.
I don’t get how this place is worth any more than $1.6M on a good day. Good luck to the seller.
Dear 12:15 am (the owner I presume) and all other brownstone flippers out there…
Hey – That’s great.
So, in addition to that, were ALL of the plumbing stacks replaced? were ALL of the waste line connectors to those stacks replaced? were all of the plumbing supply lines replaced with new copper piping? was all of the electrical upraded throughout the entire house, including the service panel if it needed to be? Did you replace ALL of the old wiring throughout the house and ensure that everything is grounded correctly and that there is safe and adequate power throughout the house?
Can you also ensure that there are no structural integrity issues anywhere that will need to be addressed? There seem to be lots of comments about sloping and rotting floors.
these are the things that should be done when a house is restored, so that come this spring, when the new owner is sipping mint juleps on their ipe deck, their kid doesn’t run outside screaming that there is toilet water gushing through the ceiling because you didn’t take care of the important stuff that should ALWAYS be done when renovating and making a profit from doing so, even if said improvements can’t be seen.
If you are going to flip, please do it the right way. And please disclose exactly what has been done so that the new owner knows what other items need future attention.
If you are going to ask 2.1 mil for a place like this, don’t you think the buyer deserves a place with trustworthy mechanicals and a sound structure?
THIS HOUSE ISNT WORTH 2.1 OR 1.9…
LOCATION IS KINDA AVG FOR FT GREENE.
BUT GOOD LUCK TO YA (WHOEVER BUYS IT)
fyi the house has more than pretty waterworks baths: there are new plumbing stacks,facade was cleaned and repointed,the exterior entry way was improved back to era appropriate bannisters and newell posts,new electrical,also new 20ft deck in ipe and bluestone patio, a resodded garden, a new roof on main roof and extention roof
Anon 9:06, you’re a nice person to say such things on behalf of the owner of this house, who is obviously your friend (or perhaps you are the owner?) But arguing that the fault here lies with the people honestly trying to buy this place is ridiculous. It’s been sitting on the market for MONTHS, despite some amazing breaks like being listed in the New York Times real estate section, pictures and everything. Somebody makes a good faith offer, and the seller starts dicking them around with price hikes and additional open houses? Screw the seller. Sorry. That is bullshit. One more thing: I can’t swear to it, but I’m pretty sure the rental unit in the garden level of this house featured a kitchen with NO SINK. Am I remembering wrongly? I hope so. Anybody else remember? Ya know, it’s hard to do a quality job renovating old houses, and my heart goes out to people who don’t know how to do it. But I’m still not buying stupid property for inflated prices. A kitchen without a sink would qualify as stupid. Super stupid.