Looking for a brownstone project

For example:

http://corleyre.com/2012/09/06/crown-heights-2-family-row-house-for-sale-brooklyn-crg1071/

this two-family in Crown Heights is really nice. totally nothing has been touched in like 50 years, so it needs a mechanical overhaul, but it seems to be in good condition otherwise. $650k. not sure if it’s still for sale, they had a deal in place a couple months ago

xchx

in Brownstoner Renovation 12 years and 6 months ago

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dukesnewhome | 12 years and 6 months ago

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I am an architect and am interested in buying a brownstone that needs work. A total gut renovation is perfectly fine with me. My price point is $750K max (excluding needed renovations) and I am interested to know if it’s possible to find properties in residential Brooklyn neighborhoods at this price point. Any recommendations of neighborhoods, listings or brokers that specialize in properties that need work are appreciated.

lmbzfksl | 12 years and 6 months ago

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I am no expert but I think it will be tricky. We purchased a Brownstone in Clinton Hill at 1.1M that needed tons of work about a year ago. Park slope and Prospect heights were out. You could look at Bed Stuy but might have to wait it out for quite a while….Use NY times website and also I recommend driving around the area and look at for sale signs..Good luck

cate | 12 years and 6 months ago

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Tons of places available in Bed Stuy and Bushwick for $250,000-$400,000 that can only be bought with cash, a 203K loan, or a conventional mortgage if you do the work required up front before you own the property.

BobMarvin | 12 years and 6 months ago

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There are houses (needing work) in Prospect Lefferts Gardens that are in your price range.

NeoGrec | 12 years and 6 months ago

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Bushwick.

timber | 12 years and 6 months ago

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I just (4 days ago) sold two such houses in Clinton Hill between Myrtle and Park for 750 each.

pigthree | 12 years and 6 months ago

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neighborhood perception is a funny thing.  750k between Myrtle and Park?  Call it Clinton Hill and people will move there without a second thought, or won’t admit to their second thought.  Reminds me of the south slope during 2006-08\.  250K houses (needing tons of work) selling for 750 – 850k one after the next.  I looked at “clinton hill” between Myrtle and Park during the boom.  Most was not worth more than 350K.

xchx | 12 years and 6 months ago

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That sounds like a pretty reasonable price range, but you’re not going to find something in Clinton Hill/Prospect Heights and it’s not like there are tons of great listings in Bed-Stuy or Crown Heights for 750k sitting around either. I’m a big fan of the blog BKTODAFULLEST: http://bktothefullest.blogspot.com/ You can read his stuff to get some ideas about neighborhoods/price ranges. You may want to talk to some of the big house flippers too, they sometimes sell houses unrenovated at reasonable markups. 

I wouldn’t count on any particular broker to find something for you. Especially when you’re looking for a deal, you have to find all the brokers that work in the neighborhood and get on their case every week to find you something.