House of the Day: Hart Attack
Massey Knakal’s got a listing at 300 Hart Street that caught our eye. Although the location is not the most convenient as far as Bed Stuy goes, this is a fairly low price point at which to get a real townhouse–can anyone speak to block and immediate area? This 2,000-square-foot place has some original charm…
Massey Knakal’s got a listing at 300 Hart Street that caught our eye. Although the location is not the most convenient as far as Bed Stuy goes, this is a fairly low price point at which to get a real townhouse–can anyone speak to block and immediate area? This 2,000-square-foot place has some original charm (decent parlor floor) despite some unfortunate kitchens and bathrooms and has plenty of FAR leftover to add some more space on the top and rear of the building were a buyer so inclined. It appears that there are some newish townhouses to the left, which we could do without, but they actually look a little better than your run-of-the-mill affordable housing. We’re digging the bluestone in the backyard but if ever a house was calling out for a privacy fence this is it! In a cooling market, however, we suspect that houses in these fringe areas are going to have a tough time selling. Our fear is that only a developer who’s going to max out the FAR will step up to the plate.
300 Hart Street [Massey Knakal] GMAP
hey victor, any insight into talk of a whole foods over there? i’ve seen reference to it a few places, none of them reliable, but a girl can dream…..
I live a few blocks away from here, closer to the G at myrtle-willoughby. The “projected rents” seem a bit high because of the neighborhood and the condition of the units. I’d take $100 to $150 off each one to make them rentable. Of course that also shifts the annual income and other calculations too.
As for the neighborhood, keep an eye on the area. There’s a lot of good changes going on– new retail, lots of abandoned buildings have been rehabed, a seven story residential building going up on myrtle@nostrand (already covered on brownstoner), empty lots being filled in, new retail space, dekalb lots, apts & lofts sold out there condo’s on myrtle…
There are also 2 tenants still in place (1 with and 1 without a lease), which is probably why they went with Massey, who mostly represent commercial properties.
Tough area. Saving grace is proximity to M/Z line which is underrated for efficiency in getting one to lower Manhattan/Wall Street area. Zillow zestimates 515K. True price is probably closer to 560K which is where monthly numbers (20% down/6.75%/30 year mortgage) suggest break-even.
What makes you think these are “affordable housing†Most new government subsidized housing is generally fairly attractive. HPD, HDC and the Housing Partnership have design standards/review. The Feeder buildings you hate so much are generally NOT government subsidized housing.
…in this area
I believe area is rough and tough. $625K not low for 3-story 18′ in this market.