Open Thread

DCB, I thought of you this morning as I listened to a radio show complaining about the Verrazzano Bridge fee going up. “Smart people like DCB buy in Brooklyn, not Staten Island.”

>Would have to be well under a million to feel comfortable with this deal.

Unfortunately, I don’t see that happening – the current owner bought it for $1.1 million in 2005 from a flipper who’d bought it in 2004 for $790K. Most of the work looks to have been done by the current owner, as well, so he’s sunk more cash into it there. There’s only an $800K mortgage on it, so he’s definitely looking at taking a direct hit if he lets it go for under $1 million and no bank is going to go the short sale route on a mortgage completely within market prices – they’d probably prefer to foreclose and sell it for the amount of the lien, which they’d probably get.

A look at the BIS shows no open violations at present, so getting a clean title shouldn’t be a problem.

Did Rich give you a figure on how much it would cost to fix everything (keeping in mind this is a landmark as well)? The closest comp I could come up with is 29 S. Elliott Pl., which sold for $1.5 million on 9/17 – depending on how much it costs to fix, it might be worth it at $1.1 million. I know this isn’t Fort Greene, but 107 Gates is a bigger house and the area is pretty nice, too.

M4L, you are a brownie whore.

Lech – did you put your life in danger in the armed forces? Whas it like crossing Washington and Atlantic?

I thought you might have been on mess duty peeling spuds.