House of the Day: 147 St. James Place
Holy Moly! This house on St. James Place between Greene and Gates looks like a screaming buy to us at the low, low price of $800,000. This is one of those listings with a minor-league broker where you have to wonder how well they know the market. Even if this place is a complete dump,…
Holy Moly! This house on St. James Place between Greene and Gates looks like a screaming buy to us at the low, low price of $800,000. This is one of those listings with a minor-league broker where you have to wonder how well they know the market. Even if this place is a complete dump, it’s still selling at a 2003 price. The three-family has been owned by the same person since 1988, so we suspect they’ll do pretty well on the sale regardless, but still, $800,000? What gives?
147 St. James Place [Flateau Realty] GMAP P*Shark
Thank goodness for the sane and morally grounded posts from CHP and Michael. Frankly the tone of ruthlessness, desperation and sheer ignorance from many of the posters on this site has made me visit it less and less often in recent months.
oh for pete’s sake. not a great area? just an “ok” area? and the C line is the subway here in this neck of the woods, not the G. Have any of you commenters BEEN to Clinton Hill?
Morals, shmorals.
If a tenants accepts a buyout, that’s their choice.
Most likely, no body on this site would do anything illegal. Who the hell wants to go jail?
love the handle, a nonny moose.
I actually was taken aback by merckawyck’s cynical comment “Getting the tenants to leave is probably not the problem, it’s getting the letter of no harassment after you have had to harass people to leave so that you can renovate the place.” talk about a skewed moral compass. Yours would be skewed if you could actually be accused of having one, meryck.
Any regulated tenants = bad deal.
If the current landlord could have vacated the tenant or tenants, he would have already in order to get a much higher price.
Either way, once the tenants are somehow moved out, you still have to file the SRO paper work and PRAY nobody objects.
Remember, if the current landlord could have done this already, he would have.
It’s not 1984 anymore. You can’t get a house in Brooklyn for nutt’n.
The problem isn’t whether or not it’s safe to walk the streets in Clinton Hill or anywhere else, in the particular case of this particular thread. Watching some annoying, infantile troll once again take over a thread by pushing people’s buttons burns me more than what he/she said. Anon. 3:12, the reason hardly anyone disputed the usual racist crap is because no one wants to play with the troll today, not because the majority of people reading here believe his/her bile. I’m sure he/she is just thrilled that they can cause people to react in righteous anger, and they are always around to up the ante if no one wants to bite. With free speech comes free form idiocy.
if indeed this house has ‘SRO status’ which am not certain it is-
it is not ‘filled’ with SRO tenants.
CofO I thinks say 2 rooms – and downstairs duplex is in CofO.
I can see why people get touchy when places they have lived in their whole lives, with neighbors, friends, family, extended family comes under the above scrutiny, is it safe? Will my children be killed? I understand the buyer too, but some of those questions do hit a nerve.
Crown Heights Proud, I know what you are talking about. I was trying to buy 2 years ago and I couldn’t afford to do the yuppie pile-on in a bidding war and so I looked at EVERYTHING. People were making fun of me, I saw so many buildings. I saw many of them with the smaller brokers (actually met 31 brokers during my search!!!) I met lots of people who had been in the neighborhood for years and years who were going to go down south or move out, but I saw a lot that where I knew that I would be displacing people who would be really messed up — had no stomach for that.
I actually did buy a house, not an SRO, but which contained a duplex full of social deviates (affluent) which I
had to evict and let me tell you, that was not fun. That took time off my life, I tell you and no matter what shape the people are in the the house, it takes time and money and a damn good nervous system.
The above house if it is an SRO full of tenants is NOT a deal. Believe me. It really isn’t. You can’t get traditional financing for an SRO. You need to get the human beings out (requires MONEY!) a Certificate of Non Harrassment (takes time) efore you even start construction, even if they the tenants are in good shape and can handle it, it is time consuming and expensive. Then you have to get a Certificate of Non-Harrassment which takes a long time. Then file plans with the City. This is BEFORE you start construction. Say you need to replace everything inside and you get a speedy crew, cheap labor, how much is that going to cost? I now know how to do things cheaply and pretty well but you will have to spend at least 200,000 dollars.
Really I making myself sick thinking about this. Don’t buy it. Got to go back to work now….
Strikes me that there are several issues which need to be untangled. Worrying out the quality of public schools in Bed-Stuy or Clinton seems fair. NOT that there are no good schools, but it’s not a given.
Likewise, I wonder if it isn’t fair to ask if, say, a white teenager might run into issues in Bed-Stuy? Just as a black kid can (and it’s happened, trust me) get hassled in Windsor Terrace and parts of Park Slope. Kids, particularly young teens, can be very cruel to each other.
On the other hand, the conflation of gentrification and “cleaning up” neighborhoods strikes me as grotesque and objectionable, and laden with racial overtones. Not all SROs are dirty, filthy and drug ridden. And you should hesitate more than a few minutes before buying one and simply tossing longtime residents out. And if you don’t hesitate, well, then I’d suggest you have a pretty attenuated moral compass.
Also, one other thing: Brownstoner’s tone on this one strikes me as bizarre. We are dedicated here to pushing up prices and “popping” hoods at all costs? Also, as another person noted, the Flatteau family is a pretty prominent one .. .in, y’know, that OTHER city
Anyway, my take …