442 State Sells, Green Reno Planned
442 State Street started out on the market in Fall 2008 with a price tag of $1,200,000; by Spring 2009, when it was a House of the Day, it was down to $999,000. By late last year, the asking price was $850,000. At the time, we wrote “The place is pretty beat up and isn’t…
442 State Street started out on the market in Fall 2008 with a price tag of $1,200,000; by Spring 2009, when it was a House of the Day, it was down to $999,000. By late last year, the asking price was $850,000. At the time, we wrote “The place is pretty beat up and isn’t on the ritziest street in Boerum Hill, but we could see it coming to life in the right hands.” Well, it’s sold now, and it sounds like it’s fallen into the hands of someone who wants to bring it back to life. The Vera Institute of Justice just closed sold the property for $750,000 to a buyer who plans to embark upon a green renovation. We can’t wait to see how this turns out!
Update: An earlier version of this post mistakenly identified the Vera Institute as the buyer of the property; it was in fact the seller. We regret the error.
House of the Day: 442 State Street [Brownstoner] GMAP P*Shark
It seems to me very likely that they will tear down the little vintage house and then build something like what we see next door.
Does anyone think they are going to keep the sweet old house? really?
more4less,
He said that right in front of you?!
That’s pretty rude.
And tactless.
I hope you bidded very high, just to increase the price that the rude guy would have to pay.
Pigeon, all-cash bid (same or lower) is my biggest competition. 1 dude flat out told agent (& in front of me) that he’ll match whatever I offer but will be all-cash. I wasnt annoyed but jealous cause I want to be in position someday to pull the same stunt on someone
more4less,
If it’s any consolation to you, once my bid on a home was the highest bid, but it lost out to a lower all-cash bid.
Pigeon, my guess is they were hoping I up the bid and after they couldnt find higher bid, they settled for a lower one (vs. coming back to me/others). Oh well, am happy I didnt get it.
more4less,
What do you think the reasons have been for the rejection of your bids?
cmu,
It’s not the white paint that people find beautiful.
It’s the historic structure.
Tell me it ain’t so! People calling a white painted facade “beautiful”!
Maybe there’s hope for my Colorize Brownstone Plan after all.
I think that’s right that this R6 without any commercial, so I am not sure what use Vera Institue could do there.
OTOH, Daytop is just across the street, so maybe Vera Institute is doing something with them to help train its rehab clients in construction with “green” certification, and then flip the house. They sold a house over on DeGraw one or two years ago, but I don’t know if that was part of any plan or just an asset sale.