Distress Signals in Williamsburg
“Distress Sale for Owner, but for you, Developer\Investor, Profit, Profit, Profit!!” Such is the glass-half-full verbiage in the listing for 191-193 Johnson Avenue in Greenpoint East Williamsburg, where the developer has run out of options. (The developer has unpaid fines owed to DOB.) The price tag on the 16-unit new building? $4,200,000. That’s an average…
“Distress Sale for Owner, but for you, Developer\Investor, Profit, Profit, Profit!!” Such is the glass-half-full verbiage in the listing for 191-193 Johnson Avenue in Greenpoint East Williamsburg, where the developer has run out of options. (The developer has unpaid fines owed to DOB.) The price tag on the 16-unit new building? $4,200,000. That’s an average of $262,500 per unit. Sound reasonable?
Six blocks from Bed-Stuy and a couple away from Bushwick. Call it anything other than Greenpoint. The price is about right. Maybe even a bit high.
I mean.. its ugly and the DOB violations are scary. SO maybe not THIS building. I just meant that I’d love to be able to live right on the block where I grew up, where I have fam, etc. Before people start jumping on me for wanting tio live in a fugly building with multiple violations.
I grew up on that block! Wish I could buy just one unit!
Sorry, it’s definitely not Greenpoint!
Yeah, I wouldn’t call that Greenpoint.
That doesn’t look like Greenpoint. Looks like ‘East Williamsburg.’
Probably a short sale too. The architecture looks attractive. I’m torn between liking this one or the Greek salad from yesterday. Both have the attractive balconies.