House of the Day: 778 Carroll Street
The price on this Park Slope limestone was recently trimmed from $1.9 million to $1.7 million. On the surface, this sounds pretty cheap for a Carroll Street location less than two blocks from the park. So what’s the catch? The house is being delivered totally gutted. For some people, this might appeal as an exciting…
The price on this Park Slope limestone was recently trimmed from $1.9 million to $1.7 million. On the surface, this sounds pretty cheap for a Carroll Street location less than two blocks from the park. So what’s the catch? The house is being delivered totally gutted. For some people, this might appeal as an exciting opportunity to create their own space without having to do the messiest part of the job themselves. The sellers have already sunk a lot of dough into architectural plans which are being offered as part of the deal. We suspect it may be tough to salvage much value out of the plans though. Wouldn’t most buyers want to put their own imprint on the design? The question really is, What’s this place worth when it’s finished? $2.2 million? 2.5 million? Whatever the number, the question is, Can you do the reno for the difference?
778 Carroll Street [Corcoran] GMAP P*Shark
Yes! This is not a bad deal. I’d go in there with a 1.5 bid if I wasn’t already doing a gut reno myself. All in, you’re talking a touch under 2 if you can get it for 1.5.
i tried to do a gut reno… it nearly killed me…. not fun / lotta work and a lotta scummy people you must deal with… good luck to the buyer
The house is very small (width and depth)and it is a flip… Commercial firm overpaid and now they are unloading it at a sizeable loss. House is worth $1.5 mil. MAX..
How many shells are there in the area anyway? Where can the artiste go to craft his own palace without the icky work of vacating squatters and hiring dumpsters near 7th avenue
On the other hand, you could be laughing all the way to the bank that’s right next door…
It’s right across the street from the Corcoran offices so you can go and complain once you realized you overpaid…or they’ll be laughing at you out their windows.
Wow, the taxes are a bit high – over $900 a month!
as a one family it’s worth about $2.5 mil if done right. for another $650-$800k you could finish it with high end fixtures. gutting a house doesn’t cost more than 50k. so it may be worth it. probably not as a flip but it’s a good opportunity to design your own home. vacant houses aren’t always easy to come by.
Its only 16 feet wide, that’s a minus.