423 Clinton Sells for Half Price
When 423 Clinton Avenue was a House of the Day last October, we called its asking price of $1,800,000 a “bit of a stretch.” It’s now looking like the price was more than a bit of a stretch: The four-story brownstone closed for just $990,000 on March 25, 2009. That’s quite a discount, but not…
When 423 Clinton Avenue was a House of the Day last October, we called its asking price of $1,800,000 a “bit of a stretch.” It’s now looking like the price was more than a bit of a stretch: The four-story brownstone closed for just $990,000 on March 25, 2009. That’s quite a discount, but not a great surprise given that the house was in need of quite a bit of work. Still, the original details could make it quite a catch for an intrepid restorer at this price. GMAP
I think more of a testament that fringe areas, like Clinton Hill are not holding up their values. 7 family meant at least 25% – 30% down.
Also just because the initial ask was so high only meant the sellers had no clue about the market and the market showed the real price. There was no big discount or great deal. It’s just perception. I could ask $50M for a house and get $1M, would that be a great discount.
Seller probably made $950,000 profit from original cost in 1967…maybe even more!!!!
“I think they overpaid for this but I haven’t seem their business plan.”
Dave please reinsert the Cock back into your mouth so you can’t type, thank you…
The What
Someday this war is gonna end…
Seller got a very nice price. I wonder about rental comps and making money there, one to two bedrooms on clinton between lafayette and dekalb (kings and queens realty)in an established well run bldg are fetching between $1,400 and $1,800 currently. This property a little to close to Fulton to expect top rents.
And we were short the market for that timeframe!!!
And we were short the market for that timeframe!!!
“This LLC caught a falling Machete, Ginsu Knife and a Samurai Sword all at the same time!”
ROTFLMMFAO!!!
***Bid half off peak comps***
“Expecting them to come off 50% is just your own little pipe dream.”
And your worst nightmare. You told me the same thing months/years(?) ago about 8,000 on the DOW and 800 on the S&P. See how this is going? How’s your City Center bag holding(s)?
***Bid half off peak comps***
What just can’t stand to believe that some people have money to buy.
I think they overpaid for this but I haven’t seem their business plan.