136 Dikeman: Discuss
Has anyone been to visit 136 Dikeman in Red Hook? (Listings here: http://bk.ly/xe0 ) It looks like the owner bought the building for $825,000 a few years ago, and has been trying for quite some time to sell it as condos. The top floor is for sale as one condo unit, without a kitchen and…
Has anyone been to visit 136 Dikeman in Red Hook? (Listings here: http://bk.ly/xe0 )
It looks like the owner bought the building for $825,000 a few years ago, and has been trying for quite some time to sell it as condos. The top floor is for sale as one condo unit, without a kitchen and without bathroom finishes for $630K even though it is currently two separate apartments(that are in total disrepair and again, no kitchen, so it would be tough to get a mortgage) and a projected combined *condo* fee of over $1,000 a month. The broker was not able to answer basic questions when I was there. I’m marveling at the chutzpah, but also sheepish to admit that I sort of fell in love with the falling apart building (though obviously not at $550 a square foot for a squat that’s a 25 minute walk to the F train).
Anyone else visited and want to weigh in on the peculiar case of 136 Dikeman?
I just visited this space & all of the units in the building except the one occupied on the lower level. Who by the way has the only access to the backyard. The other units (2nd, 3rd, & 4th flr) space was a complete mess, unleveled, wiring hanging from everywhere, horrible walls & floors, a very small, awkward space all together in all units. The square footage doesn’t add up. Very disappointing all together for the asking price & is offering NOTHING. The person showing the place was clueless to every question asked & often gave me a blank stare. It looks as if the owner just bought the building & hoped to sell units as is. You would really have to spend a ton of money for it to be remotely livable especially when there are so many places giving you more bang for your buck w/all the bells & whistles included!
ouch! 630K for a condo in Red Hook? sorry charley – not happening
if you really love the place – offer a MUCH LOWER PRICE
considering it has no kitchen and bathroom and that will cost you at least $30K to install.
I think this is a real buyer beware situation and I would run from it – there will be plenty other great condos/buildings in your future….
Sounds half baked. Don’t see many comps for Red Hook condos, but 18 DIKEMAN STREET, 1A sold for 500k 6/28/10 (new construction / 2006?). I’m not familiar with the condo conversion process, but DOB still shows the CofO with 8 families so I don’t know if it could be legit to sell condos that combined apartments. There’s a job on file…
Last Action: PLAN EXAM – APPROVED 03/18/2010 (P)
Application approved on: 03/18/2010
Pre-Filed: 10/27/2009 Building Type: Other Estimated Total Cost: $104,000.00
RENOVATE APARTMENT INTERIORS. NEW KITCHENS AND BATHS IN ALL APARTMENTS… NO CHANGE TO USE EGRESS OR OCCUPANCY.
Trulia lists 3L/3R and 4L/4R as 2400 sf, but the building is 25 ft x 54 ft or 1350 per floor (including exterior walls and stairways). Doesn’t add up.
I can’t speak specifically about 136 dikeman, since I have not seen this building. However, from your post and a short search, it seems doubtful there is a valid condo plan there. What you have is a derelict building, a man and a dream. Although in Hollywood movies, these things end gloriously well, in NY real estate the motto is caveat emptor (buyer beware.)
It is doubtful the raw space would be worth more than 825,000/4. Add the risk of a monthly maintenance outside of your control, the cost of changing the COO to combine the units, and this makes no sense at any price. Look at the rest of the market: has the value of real estate tripled for non-mortgageable properties since 2008? You’d be doing business with someone who is dishonest or delusional.