Finding a Town House for Less Than $1 Million
Newsflash! What’s the secret to finding a brownstone for under a million bucks? Looking in “overlooked neighborhoods” and being willing to take on a big renovation. In addition to Mott Haven in the Bronx and Sunnyside in Queens, Bedford Stuyvesant and Crown Heights are cited as the ripest spots in Brooklyn. No argument here. You…
Newsflash! What’s the secret to finding a brownstone for under a million bucks? Looking in “overlooked neighborhoods” and being willing to take on a big renovation. In addition to Mott Haven in the Bronx and Sunnyside in Queens, Bedford Stuyvesant and Crown Heights are cited as the ripest spots in Brooklyn. No argument here. You can still get a lovely brownstone in Bedford-Stuyvesant for well under $1 million, said Halstead’s William Ross (himself a brownstone owner, albeit in ritzier Cobble Hill). The market begins around $650,000 to $700,000 for a real four-story brownstone. Comment: Plus at least another $200,000 in renovation costs.
Finding a Town House for Under a Million [NY Times]
Photo by Chad Wilcomb
1:43, that’s so right on. I always base my decisions on what city to live in after reviewing Corcoran’s annual Manhattan median condo sales data. Give em a break. Who would ever want to live in NYC if it was only inhabited by those who could afford a $1mm apartments?!
Is that Greene Ave. between Bedford and Nostrand?
I think 1:43 is totally right. If I had to buy now I would defintely leave NYC. It is simply not at all worth it. If you can afford well over a million then sure it is a great place. But otherwise you’re spending an absurd amount of money for a so-so house in a so-so area with so-so schools. That is what is stupid. I adore the city, but it is not nearly worth it.
Anon at 1:43 — why oh why does this blog attract so many completely stupid commenters? No one who can’t afford a million dollar house should be living in NYC? Were you dropped on the head repeatedly as a child? Is that why you say such stupid things?
If you can’t afford a million dollar house, you should think twice about what you are doing living in new york city. That is below the median price of a condo in manhattan. There are a lot more affordable places to live than new york city for sure.
For 100K we put in a new kitchen (Ikea), upgraded some of the electrical, repainted, and did the floors. The house was in good shape but had been neglected. Most of the houses I see listed for 700-900K in bed stuy, PLG, sunset, etc are either renovated or look to need consmetics. The 600K the Times talks about is for an all WaterWorks, central AC reno. Which is nice if you can afford it, but hardly “typical.”
What does a 100K renovation look like?
That article was so absurd! The Times has really lost any connection to reality for at least half of it’s readership. A million is not “affordable” to many. And where did they get the idea that a “typical” renovation of a brownstone is 600K? We did ours for 100K and I know poeple who have done it for less. Also, they missed a lot of Brooklyn neighborhoods with plenty of townhouses going for under a million, such as Sunset Park, Lefferts Manor/PLG, Bay Ridge, and others. I think the author must have taken a bribe from Corcoran/BHS and the Contractors union.
would an african-american family be welcome in sunset park?