House of the Day: Fort Greene Value Play
Either the market must really be softening or we must be losing our marbles cuz this listing looks incredibly cheap for one-block-from-the-park Fort Greene. The only reason we can think that this 4-story, 2-family Italianate house is priced as low as $1.45 million is that it is in the block off the Avenue Formerly Known…
Either the market must really be softening or we must be losing our marbles cuz this listing looks incredibly cheap for one-block-from-the-park Fort Greene. The only reason we can think that this 4-story, 2-family Italianate house is priced as low as $1.45 million is that it is in the block off the Avenue Formerly Known As Murder and only a gunshot’s distance from some of Fort Greene’s finest public housing. Otherwise, looks pretty good to us: myriad mantles, large kitchen, pocket doors, etc. So what’s the catch? Is the location really putting that much of a drag on the price?
190 Clermont Avenue [Aguayo & Huebener] GMAP
If brownstoner did not buy his brownstone yet, this house will definitely be under his considerations. I think the pool of buyers is shrinking, and the new buyers for million dollars fixer upper are not ready yet.
I agree with the last comment. The price is not that cheap for the narrow size of the building and the distance from the subway.
I think the price surely has more to do with the size and condition of the house, and maybe the hike to the train, rather than its proximity to Myrtle and the Whitman Houses. Although some crime may remain in and around those projects, safely raising kids in Fort Green, Clinton Hill and even (gasp!) Bed-Stuy is quite possible. There are lots of us doing it!
Anonymous 4:10pm’s comments show that the real estate bubble that has burst elsewhere in the country is now going flat in Brooklyn. Buyers will get increasingly picky.
bang bang bang will go the gunshots from the worst, thats right the worst housing projects in NYC. the Ingersoll/Whitman housing development is the worst of them all. Good luck raising kids there.
Just listen to all the comments. When there are more houses to look at, everybody just pick on every little details. This would have been snapped up during “headier” times…Incredible cheap as BStoner said.
i saw 190 and 202 clermont. 190 has 2 small 70’s (early 80’s) plain baths which haven’t been updated. no orginal nice floors and bedrooms have funky doors. and yes it’s narrow too. location not a problem for me. 202 is a developer renovated house which will sit around forever in my opinion. 190 probably worth the price, however, 202 is a bit pricey.
Yes, all the interest only borrowers will go belly up and who will be waiting to take their places? Carping renters with no downpayments facing cheaper brownstones they still can’t afford.
Prices will keep falling, especially once more interest-only borrowers go belly-up when their loans reset at much higher rates.