Condos of the Day: Clinton Street Brownstone FSBOs
A husband-and-wife team bought this five-story, 25-foot-wide brownstone at 378 Clinton Street in Cobble Hill last year and have turned it from a five-family rental into a three-family condo. They’re keeping the garden duplex and selling the two upper units. The middle apartment is an 1,100-square-foot floor-through with 12-foot ceilings; The upper duplex about 2,400…
A husband-and-wife team bought this five-story, 25-foot-wide brownstone at 378 Clinton Street in Cobble Hill last year and have turned it from a five-family rental into a three-family condo. They’re keeping the garden duplex and selling the two upper units. The middle apartment is an 1,100-square-foot floor-through with 12-foot ceilings; The upper duplex about 2,400 square feet and has an unusually open plan for a brownstoner. (Actually, it’s kinda like what we did with our second floor.) While the renovation in general is fairly traditional and understated in feel, it looks like there wasn’t a lot of original detail that could be saved which is too bad. Given the amount of grumbling yesterday about the $1.8 million price tag on the duplex on 7th Street, it’ll be interesting to see whether the asking price on the duplex $1.95 million will fly; the simplex is asking $950,000. There’s arguably less on the market around Clinton Street than in Park Slope but, regardless, this place has to stand up on its own against an entire house that could be bought for the same price in not-too-distant neighborhoods. Move in or move on?
378 Clinton Street [FSBO] GMAP P*Shark
I saw that this sold for $2.1 million in December. Looks like they got $150 more than asking!
interesting that the owners have now given it to a broker…. guess the traffic was too low and the price too high for the market. as nice as it looks on the web, it is ridiculous to think that a walk-up 7 blocks below atlantic avenue should be essentially $2mm. as someone referenced before the condo at 114 hicks in the heights went for $2.25mm and was much better restored and, again, in the heights and had beautiful outdoor space. looks like it may be a long summer for the owners. not much of a market in july for 2mm dollar apartments.
Any movement on the duplex? No word here in a few weeks….
I saw this apt and for all of you naysayers, this is The Holy Grail as far as family living in Brooklyn. It is a true 3-4 bedroom, living little to be desired. Sure, you can buy a whole house (read: dump) in or around this area, but you will NOT find the square footage and loft-like open floor plan this place has anywhere. It’s a huge, wide space with at least 10 ft ceilings, and beautifully renovated. The comps in the area need gut renovations and are not priced for too much less. If I could afford it, I’d snatch the place TODAY. It’s going to go in a minute to a family with the cash who needs more than your typical retrofitted, poorly renovated, chopped up, dark little dump that you see around touting itself as a 3 bdrm when it is maybe a 2 br with a walk-in closet called a 3rd br. As for the neighborhood and school, if you’re a fan of bklyn, you’ve hit the jackpot. Good luck to you, owner. I’d love to be your neighbor.
I am always buying, this is 10.13.,
I just pay less per square ft. than
you. I have been here longer and I
get the first round choices. You get the price after the speculator and flipper are through. I get offered the building before the flipper and speculator buy. WE will
always see things differently. The air might be stratified, but so is the real estate market in Brooklyn. Yes it’s a soft market compared to five years ago.
My post was removed for some reason, so I’ll post these thoughts again – now that houses are getting so expensive in some neighborhoods, the idea a rental income will make a significant contribution towards paying a mortgage seems bad math. If having an extra floor and rental apartment in a house makes the house cost at least $500,000 more then how does $2500 to $3000 a month rent help pay that extra mortgage? I wonder if the types of buyers for the really high-priced houses will be changing. Like perhaps they’ll be people in a whole other income bracket who don’t want tenants. And maybe the smaller, single-family houses will gain in appeal, since having a rental apartment isn’t as helpful financially these days. It will be interesting to see if that happens. Oh yeah AND, if the rental market in some Brooklyn neighborhoods would be affected by more houses going back to single-family.
I saw this apartment at the open house yesterday. It is lovely and priced right. It is huge. It is the size of a house. The finishes are all the best quality. It seemed like no expense was spared. I agree with May 13, 1:26, this is a good option for people who don’t want to subject themselves to whims of the rental market.
And whoever thinks this is a soft market (10:13 AM I mean you) is so wrong it’s unbeliveable. You obviously aren’t in the market to buy. There is no inventory out there, esp. in Cobble Hill.
Ishould have proofed my writing, sorry
Who and what the rich do; Interesting
subject for the middle class to mull
over. Rich peopele don’t buy a floor of a brownstone in Brooklyn. Sorry, you have the wrongg idea about things.
The person who started this project.,explained it best; he didn’t have the money to keep it as his won, or to keep it as a rental. He is trying to make money in the real estate game when theings are soft. He is try to make a large profit, more than he makes at his real job.