HOTD: If You Only Buy One House This year...
Today’s HOTD is the most table-pounding buy we’ve seen in a long, long time and we bet that, slumping market be damned, this will be gone within a week. The two-family Greek Revival woodframe house has been carefully maintained by the same owner for the last twelve years and sports a sweet front porch and…
Today’s HOTD is the most table-pounding buy we’ve seen in a long, long time and we bet that, slumping market be damned, this will be gone within a week. The two-family Greek Revival woodframe house has been carefully maintained by the same owner for the last twelve years and sports a sweet front porch and back yard. The place has plenty of original architectural charm, though we’ll admit that the kitchen and bathroom aren’t anything to crow about. The location on Adelphi just off Lafayette is prime Fort Greene, just a couple of blocks from the park and the majority of the best restaurants in the nabe. Honestly, except for the aforementioned lackluster kitchen and bathroom and perhaps the slightly shallow lot of 75 feet, we’re surprised this isn’t priced at least $200,000 higher. If we were in the market right now, we’d be all over this.
331 Adelphi Street [Aguayo & Huebener] GMAP P*Shark
This would be my choice at 1.5 or under… http://www.ahbrooklyn.com/property.php?id=32&type=house&displaytype=house
That Corcoran house would be my choice at 1.5m too but it really only works as a one family, whereas the Adelphi house is a double duplex, offsetting your mortgage. It kind of makes them apples and oranges.
“For those who don’t think this is a deal, if you had to buy a house for $1.5 mil right now, which would it be?”
http://www.corcoran.com/property/listing.aspx?Region=NYC&listingid=902556
I’m sure there will be others pretty soon in this topped-out market…
I lived just next door to this house in the early seventies although I was never IN this house. The subway runs under the place next door and shakes the fillings out of your head on a regular basis. I can’t imagine this one is a whole lot better. If you visit the place, hang around for a bit and brace yourself for the rattling.
This house has a couple of major problems:
1) I doubt that the bottom floor is a legal bedroom–if it is it is insanely dark.
2) Exposed side of the building(for the horsewalk) means drastically higher heating costs
3) This house is 35 feet deep. 343 Waverly (just down lafayette) sold for less than a million and was bigger than this and had a bigger yard.
4) Termites
A&H finally changed their website!!! Now, if only Brooklyn Properties did as well..
For those who don’t think this is a deal, if you had to buy a house for $1.5 mil right now, which would it be?
I just don’t see many people making a distinction on comparable houses. The catcher is comparable, since in NYC the wealthy have been buildign in brick and stone for a long time, and most of the available woodframes (or wood faced houses, as many of them may be brick underneath) are more modest in size and detail. I personally love the greek revival styles of the remaining woodframes in Fort Greene and Clinton Hill. The front porches speak to a much friendly attitude.
I love that block, and love woodframe. But I guess $1.5 still seems a LOT to me, compared with other options. Esp as tinarina mentions about the math — split up, the two apartments aren’t each worth $750,000, at least not to me.