Trying to Flip the Greene Avenue Atrocity

Long-time readers will remember that the bane (alright, one of the banes) of our existence is a shockingly ugly two-family building at 220 Greene Avenue that was completed early last year. The middle-finger to the neighborhood sat on the market for several months before finally selling last October for an eye-popping $1,250,000. Perhaps suffering from a case of buyer’s remorse, the new owner dangled the property back on the market just three months later for what would have been a money-losing $1,200,000 before finding some renters to move in. Since then, the presence of the new building effectively sabotaged the sale of the lot next door, which was came on the market back in February for $650,000 and has since been reduced to $583,000. (Presumably it’s worth even less now under the new zoning.) Anyway, the current owner of Number 220 is now trying to unload the building for a whopping $1,400,000, a price made all the more surprising by the fact that, according to the new listing, at least one of the two units is occupied by Section 8 tenants who we can’t imagine are paying enough to cover the mortgage. At least the owner’s upgraded from a Craigslist bottom-feeder who misrepresented the property last time around with fake photos to a broker at Fillmore who may not realize quite what a tough sale he’s signed on for.
220 Greene Avenue, Listing #738098 [Fillmore] GMAP P*Shark
Actually, Greene Avenue Atrocity IS for Sale [Brownstoner]
Lot for Sale: Don’t Mind the POS Next Door [Brownstoner]