580-Carlton-Avenue-0211.jpgHere’s an interesting one…This 1850s house at 580 Carlton Avenue in Prospect Heights just hit the market with an attention-getting asking price of $499,000. The reason for the low price, first and foremost, has to be the fact that the listings exhorts potential buyers to “Bring your architect and prepare to rebuild.” Translation: The interior is shot. The house is also on the small side and within a few blocks, but not right on top of, Atlantic Yards. Still, could be an interesting project for the right person!
580 Carlton Avenue [Corcoran] GMAP P*Shark


What's Your Take? Leave a Comment

  1. Selling the space as a lot is the only rational approach at this point. The house has been neglected for so long and consequently is in such poor condition that LPC cannot realistically hope that anyone will spend the money to restore the house. As in many other cases they now have the choice to be intransigent and allow the house to sit there, unsold, until fire or water take it to the ground or else acknowledge reality and allow someone to replace it with something livable. Having worked with the LPC before my bet is that they stick to their guns and demand that the house remain as is, an eyesore and potential danger to passers by, rather than approving a new, neighborhood sensitive design. When it comes to architecture age does not intrinsically confer value and it is a mystery to me why when it comes to development so many people insist that looking backwards is better than looking forward.

  2. What drugs is brooklynbutler on? “$500,000 for renovation.” I was actually in contract for $450,000 and thought it would be a good deal. Then, met with architects AND, more importantly, Landmarks Preservation rep. House is supposedly “one of the oldest in the neighborhood” and “has historical significance”. Translated, the means $$$ and also cannot build much bigger than it is right now, which is very small. Total disgusting shambles inside (about to fall down), but will be hard to tear down with LPC. Front facade will have to be restored to old grandeur. Bottom line, Good Luck. We got out of contract and are glad we did. If someone wants to spend well over a million, and fight with LPC for years, more power to you.

  3. Yes, a sensible way to look at this would be the value of the lot. Any buyer would be well advised to approach Landmarks in advance and see whether the agency would be prepared to work with them and allow some flexibility. Otherwise, the task becomes too Sisyphean. But truly, unless you could buy both buildings it just wouldn’t be worthwhile.

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