Condo of the Day: 395 Smith Street
Even though the 14-unit building at 395 Smith Street went condo over a decade ago, the sponsor is just now getting around to selling the 1,090-square-foot duplex penthouse apartment. The price? $750,000. If the apartment had recently been renovated, this price would not seem unreasonable to us, but the place looks like a 1980s-era rental…
Even though the 14-unit building at 395 Smith Street went condo over a decade ago, the sponsor is just now getting around to selling the 1,090-square-foot duplex penthouse apartment. The price? $750,000. If the apartment had recently been renovated, this price would not seem unreasonable to us, but the place looks like a 1980s-era rental apartment, which is probably what it is. That said, some buyers may be attracted to the fact that the sponsor only requires 10% down—of course, you have to find a lender in this environment that’s cool with that.
395 Smith Street [Brooklyn Heights RE] GMAP P*Shark
Two of these units are still on the market. The price has been reduced to $650K but, considering the state of the apartments and the building as a whole, they are still ridiculously overpriced. The duplex on the top floor is in a sorry condition and requires an awful lot of work/money.
I actually live there. I have a duplex on the ground floor. My living room faces smith street, but my bedroom is further back. I was a bit worried about the train when I moved in, because I’m very sensitive to noise, but it hasn’t been a problem at all.
Looked at a rental unit in this building approximately one year ago. All I can say is don’t waste your time. It’s as bad on the inside as it looks on the outside.
3:25
127 4th Place is not facing Smith Street and the elevated F train. There are no trees. Lots of traffic.
127 4th Place is between Court and Smith Street. A major difference.
Units in this building have been on the market for a long time. I lived next to the train for 6 years; it’s certainly not ideal but palatable, depending on price. Note the duplex at 127 4th place that just sold for close to $800k; that’s the same distance from the train as this building.
Brownstoner, the financing issue with this place wouldn’t be the percentage down for the buyer. Lenders are still doing 90% financing without any headache. An issue MIGHT be whether it will appraise. And I guess in that case the banks would care more about that issue with less money down. But the buyer would probably walk if he felt he was paying more than it was worth anyway I think.
I feel the need to repeat my prior posting: This is one of the ugliest buildings I have ever seen,
I looked in this building for a temporary rental when I was planning an apartment renovation. I saw a horrible basement apartment. The whole building is a shit hole. The location sucks. Smith Regency my ass!
Super cheap maintenance, though. But currently quite unattractive and the train across the street could be a problem. Would need someone on the block to chime in on noise and vibration issues.