House of the Day: Clinton Hill Fixer-Upper
This 5-story, 2-family brownstone in Clinton Hill has some nice bones for sure (dig that mirror!) but it is definitely a fixer upper. Speaking from experience, there’s a lot of time and money involved in tackling a 5-story reno. Chances are, the lucky buyer will be into this project for about $2 million when all…
This 5-story, 2-family brownstone in Clinton Hill has some nice bones for sure (dig that mirror!) but it is definitely a fixer upper. Speaking from experience, there’s a lot of time and money involved in tackling a 5-story reno. Chances are, the lucky buyer will be into this project for about $2 million when all is said and done. Is that too much for 5,000-square-feet in central Clinton Hill? We’ll recuse ourselves on that one and let you decide.
5-Story Clinton Hill [Douglass Elliman]
this is a flipped property. traded for much less recently and no work has been done to it. that said it’s a nice house and was previously seriously undervalued…i tried to buy it myself but complications on the part of the seller and another (much smaller..not Elliman) realtor ensued.
I don’t understand the strategy — why raise the price on a fixer-up that’s been sitting on the market for months?
I went to see this brownstone last week when the price was $1,295,000. The details, size and Clinton Hill location are all postive factors. However, the bus stop, right outside the front door, and the large, extremely loud air conditioning exhaust fan mounted on the roof of the supermarket directly behind, immediately erased any thoughts of investing that kind of money. Perhaps the air con vent could be isolated inside a noise barrier of sorts or perhaps not.
anyone ever buy an multifamily like this::
http://www.christmasrealty.com/detail.cfm?RecordID=3461
We renovated (not restored) a duplex in Brooklyn Heights that was in “very good” (i.e. no structural problems) condition: replaced boiler, installed cental air, moved interior walls, new kitchen and baths (custom cabinets, pretty expensive fixtures), new fireplace mantel, replaced some floors, replaced windows. Total was $300K or 150/floor. Don’t know if that helps.
MAN and Clinton Hill Billy, I am the one who wanted to know what Bstoner spent on renovation. I know it varies, but I was just wondering since we have seen in more detail than in most cases exactly what he started with and what he has ended up with. It is of course ok if Bstoner does not feel comfortable answering … that is completely understandable … never hurts to ask though (wouldn’t normally ask such a thing, but this is fairly anonymous …) and I really wanted to know.
far, far, far too much. honestly, this feels like a bubble to me.
This house has been on the market for months – just not with Elliman. It is a very cheap-looking house, especially on the inside. It is not a beautiful brownstone – it is more like a newer, cheaper immitation. Many brownstones in CH are worth $2M when they are fixed up, but this is not one of them. It would be worth more like $1.5M. This is not the spectacular deal that it seems.
Lots of factor is cost of reno project.
Big one of course is kitchens and baths – and one needs to ask oneself and cabinet, appliance fixture price range they are happy with.
Another major variant – is do want to renovate or
restore-as restoration work is much pricier….
as in decorative plaster/ceiling work etc, stripping woodwork et al.
And yes – prices will vary widely by contractor – even for work that does not need a skilled tradesman…. such as demolition work.