HOTD: Prospect Heights Estate Sale
We don’t have much to go on with this one, but sometimes those are the listings that turn out to be most interesting. This is an estate sale of a grand four-story, two-family brownstone on Park Place in Prospect Heights. The location shown on the listing’s map says it’s number 161-163, but a quick check…
We don’t have much to go on with this one, but sometimes those are the listings that turn out to be most interesting. This is an estate sale of a grand four-story, two-family brownstone on Park Place in Prospect Heights. The location shown on the listing’s map says it’s number 161-163, but a quick check of Property Shark suggests that’s not the right address. Besides that, all we know is that there’s original oak detailing and it “needs work”. (Given the relatively low price tag of $999,000, we’re guessing it needs a lot of work.) As a bonus, it’s on one of those sweet 131-foot lots particular to Prospect Heights.
Park Place 2-Family [Donawald Realty]
I agree with Frank. Bidding war? Who are you kidding. I am in real estate as well and no one wants a house with a fire in it unless you are demolishing the house. Empty lot is a lot easier to deal with than this. And 1,000,000 bucks? If a house like this today would go for $1.5MM in perfect condition (according to the Broker), and figure putting down at least $400,000 to fix this place up, what are you winning? You are better off buying at full price today and not worrying about the renovations.
Bidding war? Are you insane? This thing is grossly overpriced for a place that had a fire in it.
Take it from a developer — this is not the same as buying a place that just needs a gut reno. No matter how many engineers you get in there, you are never going to be sure that the place is really structurally sound, and yes, if you are not worried about a $100,000 cash call 2 years down the line, this can be just the place for you, but believe me, there is a reason that real developers don’t bid for these places.
You would be much better off with an empty lot.
Bidding war?????
wow posting on the internet is fun. i can say whatever i want, like my opion matters…weeeee, everyone listen to me! I have options! i matter!
That place is a dump!
Maybe Anonymous @ 5:37 is a potential buyer that wants to keep the price low. Shrug…it’s my opinion and I’m sticking with it
I tend to agree with anon 5:37, however being one of the earlier posters who implied a bidding war you can only go with the information given. you click the link and see one picture from the side that obviously doesn’t show the structural or fire damage so all we know is that there’s a nice brownstone on a nice block in prospect heights for $999,000 which, in my opinion is priced for a bidding war.
It’s amazing to me how people make uninformed comments, which in turn are posted and disseminated, that contribute to the pricing frenzies. The first posters give their opinions, based on nothing, that the property is underpriced and should result in a bidding war. Of course, they don’t know or care that there was a fire that has totally gutted the place, including full structural damage, and that the building is approx. 17 feet wide anyway. They should not try to blindly help the brokers who are overpricing everything. Oh, maybe they ARE brokers who are posting.
I love the strategic side picture too.
http://a810-bisweb.nyc.gov/bisweb/OverviewForComplaintServlet?requestid=2&vlcompdetlkey=0000643706&s=A03C41B885B461E4F46BD08866A7430E
wait, pause. okay… animals living inside?!
This place is a total gut. Fire damaged the house and it has been boarded up ever since. I understand that it also has structual problems.