Two Bed Stuy Open Houses Tonight
287 Halsey is a four-story, three-family brownstone with quite an elegant facade; we’re always a little worried when we see something like this with no photos advertising the fact that it has been recently renovated. But for $745,000, could be worth the subway fare to check it out. Open house tonight from 5:30 to 7….
287 Halsey is a four-story, three-family brownstone with quite an elegant facade; we’re always a little worried when we see something like this with no photos advertising the fact that it has been recently renovated. But for $745,000, could be worth the subway fare to check it out. Open house tonight from 5:30 to 7. Do you think either of these places sound like they’re worth it?
287 Halsey Street $745K [Craigslist] GMAP P*Shark
477 Willoughby is a four-story, four-family brownstone that is, allegedly, “filled with original detail” but in need of renovation. (That front door doesn’t augur particularly well, does it?) The asking price is $800,000 but the seller is motivated. Open house tonight from 5 to 6:30.
477 Willoughby Avenue $800K [Craigslist] GMAP P*Shark
I don’t know anon, but there are an awful lot of people in NY who have bought houses and cannot get rid of tenants -or spend years doing so. Rent stabilized tenants are as tenacious as rent control tenants. Do you honestly believe you could buy these houses and evict the tenants? Have you ever been to Brooklyn housing court? I have. If you are an owner, you are guily until proven innocent and maybe even then.
I think you may be new to NYC.
Fran,
Where you get the law that says rent control is any building with more than two units?
Here is information on the New York State Rent Control and Rent Stabilization. Am I missing something???
Which apartments are under Rent Control?
The rent control program applies to residential buildings constructed before February, 1947 in municipalities that have not declared an end to the postwar rental housing emergency. There are 55 municipalities that have rent control, including New York City, Albany, Buffalo, and various cities, towns and villages in Albany, Erie, Nassau, Rensselaer, Schenectady, and Westchester counties.
In order for an apartment to be under rent control the tenant must have been living there continuously since before July 1, 1971. When a rent controlled apartment is vacated in NYC or most ETPA localities, it becomes rent stabilized (where the building contains at least six units), or completely removed from regulation.
Which apartments are under Rent Stabilization?
In New York City, apartments are under rent stabilization if they are in buildings of six or more units built between February 1, 1947, and December 31, 1973. Tenants in buildings built before February 1, 1947, who moved in after June 30, 1971, are also covered by rent stabilization. A third category of rent stabilized apartments covers buildings with three or more apartments constructed or extensively renovated on or after January 1, 1974 with special tax benefits. Generally, those buildings are only subject to stabilization while the tax benefits continue or, in some cases, until the tenant vacates.
Outside New York City, rent stabilization applies to non-rent controlled apartments in buildings of six or more units built before January 1, 1974, in the localities which have adopted ETPA in Nassau, Westchester and Rockland counties. Some municipalities limit ETPA to buildings of a specific size- for instance, buildings with 20 or more units, or 100 or more, but in any event, not less than six.
Hey those two dudes are your rent-controled tenants. They are part of the deal.
Rent control laws apply to any building with more than two units.
“Trendy Thompkins Avenue”
Wow am I out of the Loop!
Halsey house has much better train access – 3 blocks from A express. And the area right around there is very promising; lots of new amenities on Tompkins Ave., Super Foodtown on Fulton, etc. The drawback is that Halsey is 2-way and has buses going by. The exterior is really charming. I disagree with the poster who thinks this would only be used as an income property. There are tons of owner-occupied brownstones in the Stuy and plenty of people who like the whole “owner’s duplex + 2 tenants” setup. If you go to the open house, please post. I’m curious about the inside.
Do apartments in buildings of this size come under stabilization laws? I thought they did not. Fran strikes me as ill-informed.
I’m just wondering what would possess a owner to post a picture of a property for sale with two random dudes sitting on the steps. Doesn’t anyone follow the rules of, “what to do when putting your house on the market”, anymore? Presentation people!!
287 has a nice facade, but missing the cornice.
depends on what the rent rolls are.
How many tenants are rent controled versus rent stabilized, how old are they. etc.
These buildings will probably be bought as revenue generating properties, not as someone’s family home. Uness they are vacant and can be converted.