House of the Day: Stuy Heights on the Cheap
This $575,000 listing is the most interesting house we’ve seen in the low-priced category in a while. Unlike most places in this price range, this 2-family brownstone is on a pretty street in historic Stuyvesant Heights. The configuration is duplex-over-simplex, but the price tag may be low enough for some to be able to avoid…
This $575,000 listing is the most interesting house we’ve seen in the low-priced category in a while. Unlike most places in this price range, this 2-family brownstone is on a pretty street in historic Stuyvesant Heights. The configuration is duplex-over-simplex, but the price tag may be low enough for some to be able to avoid having a rental. One question: We can’t tell from the photo whether the different material on the facade of the parlor floor is original or the result of a renovation. What do people think?
786 Hancock Street [Corcoran] GMAP
And please find me a 1-bedroom on or near this block that is going for $1500/mo. That is lunacy.
this old and tired listing SUCKS. the broker did’nt stretch the truth, he snapped the truth. 786 hancock (rough nabe) is as close to stuy high as it is the upper east side…
why even discuss?
Sloper, I wouldn’t put too much credence in those property shark numbers when you are talking about bedstuy. When we were looking to buy we dealt with neighborhood brokers as well as larger more established brokers and we saw homes ranginging in price from 250’s to 600’s –all outside of stuyvesant heights put all in the northeast corner of Bedstuy. The main difference was condition for 250K you get a house in terrible condition with non-paying tenants in housing courts suing the current landlord for 600K you get a beautifully renovated house delivered vacant. Granted that our housing search ended over a year ago,this house sounds overpriced given the tenant situation. I don’t think housing prices have risen that much in a year!
Sorry about the comments disappearing…we’ve been getting hundreds of spam comments a day and occasionally in our efforts to delete them we inadvertently delete authentic comments.
Somehow a bunch of comments from yesterday afternoon/evening disappeared (my own and at least one other, from someone who saw it and said the rental was packed with people in bunk beds).
Anyway, it’s about a mile from Stuyvesant Heights, closer to (or perhaps in) Ocean Hill. Based on recent sales in the NY Times, it’s priced as though it’s in Stuyvesant Heights. In April, a two family house just down the block went for around $370k back, while a two family on Hancock a mile away went for around $550k. I compared the square feet using Property Shark and the three houses are similar.
That listing is stale. Wonder what’s wrong with it. It could have lingered on the market so long b/c of a family feud. That was a huge prob. when we were looking. We saw some really cool places with for sale signs, but the realtors couldn’t show them. If people can’t get their family members to move out or agree to sell, say no go.
As others have posted, this place is not in Stuyvesant Heights. Based on the pictures, it looks like a pretty nice place, but it also looks like there’s a lot of work to do. Plus I’m not too crazy about that painted facade — a common problem in Bed Stuy.
sounds like a good deal to be paying about 100 a square foot. Rents in Bed Stuy are well over 1000 a month these days. 1 bedrooms on Putnam Ave out that way are between 1200 and 1500. I would only put 10% down also on that house. Does that square footage include the cellar? Ususally it doesnt. That is about another 1000 square feet in storage at least.
According to Property Shark, the gross square footage is 2,391. So it’s actually around 1,600 sqft for the owner’s duplex, at a price of $1,400 in mortgage payments after possibly receiving rental income of $1,300.
Although if this isn’t really Stuyvesant Heights, rent might be more like $1000.
So I don’t know — is $1,700/month in mortgage payments for 30 years a good deal for 1600 sq ft 7 blocks from the A-train in Bed-Stuy? After a $114k downpayment? If it’s such a good deal, someone should have snapped it up by now.
Could it be rent controlled/stabilized?