House of the Day: 40 Cambridge Place
$859,000 is quite a low price for a house on Cambridge Place to be sure. This new listing at 40 Cambridge Place, however, is going to need quite a lot of work. That doesn’t mean it’s not worth it though. The interior still has plenty of original detail and the house next door shows how…
$859,000 is quite a low price for a house on Cambridge Place to be sure. This new listing at 40 Cambridge Place, however, is going to need quite a lot of work. That doesn’t mean it’s not worth it though. The interior still has plenty of original detail and the house next door shows how pretty the exterior could be made. Think it could be worth the effort?
40 Cambridge Place [BLS Realty] GMAP P*Shark
given how many people bid on 65 S Elliot Pl, doubt it was at ASK. Over ASK by decent amount if more probable.
that said, that is way way better house and location that this – NOT EVEN CLOSE.
“Fixing a frame is just a ton more of a headache than a brick house.”
How so? Do you mean there’s more likely to be wrong? I think the actual fixing is easier. Don’t like the position of the doors or window frames? Just swap some 2x4s and move ’em! A lot harder to do that in a brick house.
I’ll be surprised if they get close to ask on this place. If you recall 65 south Elliott pl was on the market a few months back it was is in similar condition and in a much more desirable location, basically same type of property, I heard it sold at ask which was 869k. http://www.fillmore.com/realestate/two-family_home_fort-greene_brooklyn_ny_11217_004085 that’d be a steal for that south elliott buyer if this Cambridge property sells near ask.
It may be worth it to someone who enjoys restoring old homes and plans on spending some time living there. I don’t see a legal curb cut, which in that neighborhood may justify the price alone.
However, Cambridge is a beautiful block, outstanding even in the midst of Fort Greene / Clinton Hill, The neighbors to the right and left obviously cares about their homes and restored it. The buyer of this house could do the outside similar and gut reno the inside to classic or even go a little modern, with rental income.
However this is for someone with deep pockets or stellar credit. I don’t see the mortgage lender going for this loan and the money needed to fix it. In the long term however, this could be an excellent investment.
“Think it could be worth the effort?”
No.
fixing a frame is just a ton more of a headache than a brick house.
“What a piece of shit listing.”
“The broker’s listing that is, not the house.”
The house is a piece of shit also.
“The interior still has plenty of original detail”
Where?? All I see is window casing (bottom half) in one room and 2 mantles.
I say gut this puppy and turn it into a Fedders.
Since the fancy detached frame on Adelphi sold for $820K, and the nice 4-story frame on Cumberland sold for $750K (both needing quite a bit of work, but arguably better locations in famed & awesome Fort Greene), I think the ask is a bit ambitious.
Nice project for the patient and deep-pocketed buyer.
The broker’s listing that is, not the house. Although the house needs an incredible amount of work…maybe $400,000. What’s it worth there when it’s done?????