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
Agree with Matt at 1:52, owner should be commended for answering questions. Thank you very much. And Anon 1:55 is also right that it is the market that is crazy and this does appear to be market price. I just don’t know anyone who can afford these prices! I’m in the neighborhood and have never met any of these new arrivals — everyone I know either rents or bought brownstones years ago (or live in buildings they inherited from family).
To 1:49. Trust me, we would have loved to keep the building. But it was too expensive and the financials didn’t work out.
I agree about Cobble Hill. I think it is what Brooklyn Heights pretends to be: a low-rise brownstone neighborhood. There are very few apartment houses in the Hill and it is further away from the tackiness of the Civic Center. It is also further away from all the subway lines but that is both good and bad. Single family living in Cobble Hill can’t be beat. Sharing the owneship of a brownstone with two other families, don’t know. It could be great, it could be not. At these prices, I would pass.
I agree that it seems crazy to spend that much and only have part of a brownstone but that said, it might be under priced. 100 2nd place is the same layout and 2 of the 3 apts have sold. The lower duplex for 1.825 and the middle floor thru for 980. The owner of that building paid 2.4 and did a nice but not perfect renovation. The owner of this clinton street paid 3 million and looks like they did a nice job. The market is crazy, not the sellers.
I don’t have an opinion about the place, but I do want to note that the owner is coming out and answering questions as the owner, not some phony anonymous sock puppet like we usually see around here. I commend that.
And no, I’m not affiliated in any way.
– meant to say ” chiming in”, and I agree with you about Cobble Hill vs. Brooklyn Heights — I think Cobble Hill is actually more expensive these days because people with families prefer it.
To the owner – thanks for chining in. I made that comment about 100 2nd Place, but yours also looks very nice.
I do have one question — since you are living in the bottom duplex anyway, why did you decide to condo the building instead of living with 2 rental incomes? (That’s what we did when we bought our brownstone). We like “controlling” the building, but is the income from rentals just not enough anymore to make this cost effective? Or did you just prefer condo living?
For that kind of money I want complete control of the castle… I don’t want to worry about who I my be upsetting over my choice of music, especially at 3am.
To answer 1:37. Yes, there is a reserve fund. Yes, there is someone who cleans the common areas and sidewalk. And all that is included in the common charge.
I lived on Columbia Heights (was born and raised on that street) The apartment you are comparing this to is small but probably has a great view. And the building’s financials are notoriously bad. Also this is 3/4 bedroom, that is a two bedroom. Totally different. By the by, I like living here better than BH. Better stores, better restaurants and less obnoxious tourists and office workers. And great public school! There’s my piece.