A Red Hook Townhouse for $270,000? Yessiree Bob
It’s hardly a Pierrepont Street mansion, but a house in Red Hook was recently snapped up in foreclosure for the cool price of $270,000, less than half of what the bank was into it for. According to ACRIS, the 2,100-square-foot vinyl sided property went into contract on November 16 and closed on January 29. The…
It’s hardly a Pierrepont Street mansion, but a house in Red Hook was recently snapped up in foreclosure for the cool price of $270,000, less than half of what the bank was into it for. According to ACRIS, the 2,100-square-foot vinyl sided property went into contract on November 16 and closed on January 29. The lien on the house had been $598,021, according to Property Shark. How big a deal this was is unclear though: The place looks like it could use some serious work and the house next door looks like it’s about to fall down. Was this a good buy or not? GMAP
news flash Combustiblegirl2, I’ve lived in RH for over fifteen years so I guess that makes me part of the community, whether you like it or not.
However, unlike the stoner crowd and the majority of Brooklyn residents, I don’t think the neighborhood is dangerous, too industrial or too ghetto. All I’m doing is rejecting the crazy groupthink so common amongst the Van Brunt Street crowd that RH must become to be the next DUMBO or SOHO. All the neighborhood rah rah in the world isn’t gonna make that happen.
Also, I think you and Ms Hook have your panties in a twist because you fancy yourselves such neighborhood mavens and can’t stand a dissenting, but well-formed opinion.
Ms Hook,
Let me get this straight. Throughout this thread, folks are saying all kinds of disparaging remarks about what it’s like to live near NYCHA residents and you don’t call them on it. Well, I think my observations about RH’s overwhelmingly white and privileged fringe dwellers are spot on. I just wish I wasn’t right, but the neighborhood’s zeitgeist is clear and a long term renter like me can’t afford to buy a house.
Mare, your statement just proves to me exactly how little some people on this site actually know about what the community is like here.
$500k to make it livable? Only if what you mean by “livable” is a Dyker Heights McMansion. You could do it for $100k if you were smart. So yes, it is a good deal.
Those “most other places” in the US where you could get a pretty nice house for $270k are places you wouldn’t want to live. Check the prices in any decent city on either coast–a nice house will run you half a mil.
PS, Ikea could come and take a big dump on my doorstep and I could not love them any less for the wonderful open waterfront space they have provided.
Weeeeeeeeeeeeeeee!!! I finally measure up to The Mare’s stereotypes, being the owner of at least one moleskin!
A swingle is a mini Steve’s Key Lime pie dunked in dark chocolate, frozen, and eaten like a popsicle. Nuts.
This house is directly across the street from the redhook houses, there are about 4 houses on the block for sale and another couple that look abandoned……
I think that the house is one of the nicer houses on the block and might not need too much renovation- but the block is not nice at all……
I think that the owners could rent the first floor and potentially live with low monthly payments….but they would have to be willing to live there – I dont think that I would be willing to live on that block.
BHO – I appreciate what you’re saying, but the real ‘argument’ I’ll give you is quite straightforward:
Most Americans’ biggest asset is their home. It is political suicide for anyone in government to allow so many to simply ‘eat their losses.’ That sounds fine on paper [Ayn Rand, anyone?], but the reality is quite messy and costly – not just in dollars, but in ruined lives, careers, etc.
If the government does eventually move to wind-down the bubble, it’s more likely going to be through inflation. True, that’s a lousy solution for many people, but again, the system is gamed in-favor of property owners – plain & simple.
By the way, I like Red Hook too. Fairway, the park, the Manhattan views. They need to restore those old ferry lines and send ’em to the ‘hook. I heard they did something like this in LA or San Fran.
***Bid half off peak comps***