Breaking: Bed Stuy Brownstone, Former School, Fetches $1.585 Million at Auction
We hear from a well-placed tipster that the once-elaborate brownstone at 272 Jefferson Avenue sold at auction today for $1,585,000. The house was not a foreclosure; rather, the state of New York was getting rid of the property, which at one point had operated as an alternative school. Except for a few rooms on the…
We hear from a well-placed tipster that the once-elaborate brownstone at 272 Jefferson Avenue sold at auction today for $1,585,000. The house was not a foreclosure; rather, the state of New York was getting rid of the property, which at one point had operated as an alternative school. Except for a few rooms on the parlor floor, very little was left of the original interiors, as can be seen on this Flickr page. Our tipster told us the buyer was Australian investment firm Dixon Advisory (or one of its related companies), which has been acquiring property in Brooklyn to rent. The minimum bid was set at $770,000. Do you think they got a good price?
Has Dixon put anything they’ve purchased back on the market or for rent? Would love to see the quality of the renovations.
272 was a spec house built in 1889 for developer builder W. R. Bell who often worked with an architect named Charles Mushlit.
I agree local knowledge gained over a lifetime is very valuable But at 323 sqft for a vacant building that appears solid
This is not a tear down Its a Fine looking corner brownstone w light and lots of possibilities. I think this is about demographics and a lack of supply that has helped push up prices forcing some buyers to seek sub 1000 sqft pricing And how things are changing in the areas surrounding downtown Brooklyn And the pace of change is very rapid Construction Costs of a new building in Brooklyn high and getting higher and the building process is complicated and fraught with potential pitfalls. This is not ground up construction Couldn’t two or three enterprising families pool resources buy something like this condo it for themselves and end up w something better than buying into one of the high rises on 4th avenue. Wouldn’t this be a better alternative ?
Chumps pay market price. Really. It’s nice to be able to buy a deal A below market deal sounds great that’s a strategy
But sometimes it’s a strategy to buy at market. The right property. When the markets moving up and that’s not necessarily being a chump. Would you be a chump for buying a quality brownstone bought in Park Slope Cobble Hill Prospect Heights
2 years ago. If that’s a chump. Then we need to redefine chump change
Considering mic houses in bed stuy are going for $400-$450 sq, ft, paying $323 sq. ft. for a house that needs about $100+ sq ft. in renovation and conversion is not a great investment.
No-permits, how do you know its not a flip. Why do they need to hang on…. You hate the property so much… Did you see it or hate it from the web? It is huge, I went through the house. It has hardwood floors under all those carpets. Full price yes,.. better buy than the Corcoran listings every Sunday.
am i only commenting about lack of closets and hating on living/dining/kitchen combos?
um no…..not stargazer.
figured that. just busting your chops.
i do all my banking in person. can’t stand online banking. I carry my savings passbook and coin jar to make my deposits.
LOL!
i don’t get that site. they claim they’re the closest thing Brookln has to MLS, but they rarely have listings on there. It’s always houses that have already sold.