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
The C of O is for a 7-family with two apartments on each floor except one apartment on the 1st floor.
Condo Conversion??
I’m going to have to agree with brickoven today. This house needed everything and whether its a 3 storey or a 4 storey, it should really only sell for $600-700k in Ft Greene or Bed Stuy when it needs a total renovation.
Even once the interior is fully renovated (at least $300k)it’ll never sell for anything close to what a normal brownstone would without the added porch and brick stoops.
It’s not an SRO….hhhmmm
http://a810-bisweb.nyc.gov/bisweb/PropertyProfileOverviewServlet?boro=3&houseno=423&street=clinton+avenue&requestid=0&s=A03C41B885B461E4F46BD08866A7430E
So was this a deal?
This house would cost at least half a million dollars to fix up properly as a single, or two-family residence. However I suspect whoever bought it is looking to covert it into a quick and dirty rental building.
a small dose of reality more to come. I think they still overpaid by 200,000. Anybody who has done a renovation can correct me if I am wrong here, but would’nt a house like this cost about 400,000 to fix up properly?
Where’s the poster ‘Brownstones Half Off’?
Was the price chopped over the life of the listing?
This has given me confidence to bid half off all the $2M houses. Keep offering until I find that 1 desperate seller
It was described as a “7 family” in the original listing. Any further evidence that it may have been a SRO???
wow, that’s a big cut and a very good final price. Lesson here for buyers, DONT be shy in offering a price you like on a ppty cause one never knows how much a seller wants to sell it. if this was marketed at $990k, I suspect it would’ve gotten multiple bids and probably over $1M. Unless the offer was all-cash, this is much cheaper than anything we’ve seen in a long long while.