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We can see how a few naive souls might have been induced to buy this type of thing back when the market was frothing but, seriously, who’s going to step up at this point in the market? Are these the squats and crack houses of the future?
$645000 DON’T MISS OUT!!! Crown Heights [Craigslist]
$799000 New Construction 3 Family! Bed Stuy [Craigslist]
$699000 New 3 family 3/3/2! Bushwick [Craigslist]


What's Your Take? Leave a Comment

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  1. I’ll be the contrarian . . .twice. In my best Linda Wotsername Coffee Tawk voice, discuss among yourselves –

    One, all brokers try to underprice. They make money on sales volume. Adding 20% to a price actually reduces their profit ’cause it takes them longer to sell the thing. For a broker the fastest sale is the best sale.

    Two, at the right price, these crapshacks could work. They’re designed to maximize internal space. Not sure of rents in the area, but for the 3-fam, what part of the nut would two rents cover? Of course, a really, really thorough inspection would be a requisite.

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