Unicorn in Bed Stuy Wants $499K -- But There's a Catch

A three-story row house in Bed Stuy for $499,000? It’s true — but as the Facebook line about relationship status goes, it’s complicated.

Currently owned by a bank, the house is being sold as-is, with the buyer accepting liability for all liens and violations. And as you might guess, the house has a tangled history.

The city Department of Buildings lists no violations or complaints connected to the property. But it does have a history of lis pendens notifications, and at least one lien against it, for $704,218, property records show.

So what about the house itself? Judging by the dim and grainy photos provided, it doesn’t look all that bad. It should go without saying that it’s not in move-in condition, but it looks fairly sound — no crumbling plaster, water damage or gaping holes in the wall. (None that are visible anyway.) The hardwood floors even appear to be in pretty good shape.

A legal three-family, it’s got five bedrooms and two and a half baths, with total floor space of 2,142 square feet, according to PropertyShark. The lot it sits on is 17 by 100 feet.

The seller is asking $499,000 as is for the property. Add together with the lien, if our calculations are correct, any buyer would have to spend at least $1,203,218 to own the house. Then there’s the cost of any possible renovations.

So at $499,000, is it an unbeatable bargain for the intrepid buyer, or is the whole deal not worth the headache and potential complications?

[Listing: 740 Lexington Avenue | Broker: Fillmore] GMAP

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