The Cheapest Old House in Brooklyn?
The flier for this house caught our eye for two reasons — the old wooden cornice and the $450,000 price tag. In reality, there are a few houses on the market for less in Brooklyn, but they are further out in places like East New York and Canarsie, not the increasingly-popular Bed Stuy. Nor do…
The flier for this house caught our eye for two reasons — the old wooden cornice and the $450,000 price tag. In reality, there are a few houses on the market for less in Brooklyn, but they are further out in places like East New York and Canarsie, not the increasingly-popular Bed Stuy. Nor do they have the potential to be restored the way this one does. Since the listing’s not on the Massey Knakal website yet, we emailed the broker to get our hands on some pics, which confirmed our suspicions that the house has some salvageable architectural charm, renovation choices from the last several decades notwithstanding. The location is fairly central Bed Stuy, though the Fedders house to the right does not bode well for the character of this block. And, to be fair, at 1,260 square feet, this ain’t a huge house. The upside of its diminutive size is that it wouldn’t be particularly expensive to renovate, meaning you could have a charming, fully renovated house for under $600,000. We hope that’s what happens, as opposed to a schlocky developer tearing it down and maxing out the FAR with a POS like the one next door. To that end, we convinced (okay, we didn’t exactly have to twist his arm) the broker to hold a Brownstoner-only open house. It’s tomorrow (Saturday) from 11:30 to 1:00 at 461 Quincy Street and you won’t see it listed anywhere else. How much cooler would it be to buy this than some cookie-cutter one bedroom condo? And how great would it be for someone who cared to buy this place and fix it up than for a developer to tear it down? Oh, and don’t forget the secret handshake and password. (Hint: Seven letter word for an architect who’s lost his self-certification rights.) GMAP P*Shark
I think a person would be insane to pay almost half a million dollars for this dogpatch horror. You may as well put a giant sign on it that says “loser”.
Your friends from out of town will be really impressed (with themselves for not living in Brooklyn).Talk about diminished expectations!
Is around $500 a square foot the going rate for a renovated house in central Bed Stuy? Is it the opposite of the volume discount?
$450,000!! I wonder if the’ll take my personal check.
No small single family house like this one will ever be sold again in Brooklyn. This house will be purchased by a developer and torn down. Guaranteed. The land is worth way more than the house.
I like the house, the only problem really is the Location. Central Bed- Stuy is One of the worst parts in Brooklyn.
The Stuyvesant Gardens Housing Projects are located in Gates and Stuyvesent, 3 short blocks away.
The Louis Armstrong Housing projects (infamous for the documentary “Bullets in the Hood: A Bed-Stuy Story.”[http://www.dctvny.org/bullets/]) are located in Lexington Avenue and Nostrand Avenue, 4 Blocks away.
Not to mention the trains are also pretty far. Not calculating the $100,000 in restoration. This is clearly not the deal of the century. I wonder how much I have to pay Mr. Stoner to have an Open House published in this site? I hope is not the 4% Corcoran is charging. See you at the Open House….
what is the address?
Wow, looks great. Wish I could afford something like this. Even though it IS small and needs a lot of work… owning a HOUSE in Brooklyn is a dream of mine thats looking more and more impossible on my truly limited salary…
plus you can get everyone in early to point out everything that is wrong with the house!
Fabulous idea to have a Brownstoner only open house for such properties! Great from a preservation perspective. Brokers will only care so long as the $ work out in their favor.