House of the Day: Gut Rehab Candidate
If you’re feeling adventurous, this shell on St. Mark’s Avenue in Park Slope may present an interesting opportunity to arb the market. The asking price for the 4-story house is $1.1 million. If you could do the reno for $500,000, you’d probably create $200,000 or so of value. Of course, in the meantime, who knows…
If you’re feeling adventurous, this shell on St. Mark’s Avenue in Park Slope may present an interesting opportunity to arb the market. The asking price for the 4-story house is $1.1 million. If you could do the reno for $500,000, you’d probably create $200,000 or so of value. Of course, in the meantime, who knows what the market will do…
34 St. Marks Avenue [Corcoran] GMAP P*Shark
Look at this for $725,000!!!!!!!!!!
http://www.344stpaulsave.com/
overpriced! I think it you could get for 750k, it probably makes sense …
To peepeehead and anon 3:24, the $250k renovation would be if I would do the work for myself and not for a customer.
It seems less expensive because I wouldn’t pay myself and buy all the material at amazing discounts.
If I’m building this for a client, I’d say anywhere bet the least $415k and skies the limit
you’re right. Even corcoran listing says 3 story (sometimes propshark says 3 and doesnt count basement/garden).
So that over$500sq ft for shell.
I’d sell mine for $500 sq ft with nice duplex and 2 rentals.
And to the width snob (its 16.67wide)- and other house today being discussed is 15.6′.
16 feet wide is just fine when done correctly. 20 ft wide houses can be all hallway.
The house is 16 feet wide. Sixteen Feet Wide. Uh…Sixteen feet wide? Why are we even discussing this?
My question when I see a house like this is “what does the owner know that I don’t”. Seems unusual to do all the demolition and then just stop. See posts saying it would take $250K to $500K to renovate. My experience is, $250K will not buy much renovation (certainly not enough to flip to someone else at $1.7 million).
im wish i could pay to see what that place would look like with a $250K restoration, maybe i am a retard and pay too much for stuff, but that seems crazy cheap
couldn’t help myself. had to research it. here’s a sampling of the DOB and ECB:
Failure to maintain bldg. hazardous – noted: netting/tarp draped over front of bldg and over hanging scaffold not secured at bottom. several windows plus entrance door lift open/unguarded. excessive combustible debris
ADJACENT BUILDINGS – NOT PROTECTED
PIPE SCAFFOLDING AND THE SAFETY NET THAT LAYS OVER THE SCAFFOLDING IS IN DANGER OF FALLING
Comparing the financial transactions to dates of complaints, it looks like somebody bought the place in 2004 with the intent to flip it. but they did all their construction without a permit (noted in 2004 violations) and pissed off the neighbors (multiple complaints about damage to neighboring buildings). Fast forward to work halted, and flipper wants out.
also, looks like it’s only 3 stories, and only about 2100 sqft (unless there’s some “ground floor” basement they’re not counting).
ok. back to work.