House of the Day: 855 Jefferson Avenue
The reader who flagged today’s HOTD for us thought that it was significantly overpriced at $1,150,000. While we doubt the seller (who also happens to be a Fillmore broker) will get his ask, we bet he’ll get within 10 percent of it — not too bad of a return considering he paid $499,000 back in…
The reader who flagged today’s HOTD for us thought that it was significantly overpriced at $1,150,000. While we doubt the seller (who also happens to be a Fillmore broker) will get his ask, we bet he’ll get within 10 percent of it — not too bad of a return considering he paid $499,000 back in the summer of 2005. The brownstone house (we’re guessing 1890’s) is stunning both inside and out, though the jury’s still out on the new kitchen. And while we’re not familiar with the block off the top of our head, the neighboring houses appear to be of equal architectural pedigree. Any recent comps or insider info on this place?
Listing #706047 [Fillmore] GMAP P*Shark
855 Jefferson Avenue [Craigslist]
Photo by Gregg Snodgrass for Property Shark
If people are willing to stay in these houses 5 to 10 years and not just 2 years, they can see this kind of profit. But the 2-year flipper thing isn’t going to bring huge profit in the borderline neighborhoods. Making $100K to $200K profit after two years is closer to reality. The progress in these places is simply not as rapid as what happened in Fort Greene or parts of Park Slope/South Slope. And I’m not being snarkey; we ourselves own a house in not-great neighborhood that’s still on the rise. Slowly.
This broker is delusional in thinking he can get near asking. For some reason he also seems to think it’s in Bed-stuy, but in my opinion it’s in Bushwick. Anyone buying this property will have to pray that appreciation will help them out 10 years from now, ’cause as of right now you will be -400K.
I live a block over from this place. That house is part of a group of brownstones near the corner of Ralph with little front yards and very cool stonework, all of which appear to be in good shape (at least on the outside). It’s a quick walk to the J (past the fire and police stations) from there. And frankly, Broadway out here is a step up from Fulton. The price is definitely high–I burst out laughing when I saw it. But the other houses that sell for $650 in this part of Bed Stuy usually need $100k worth of work and most of those have been badly stripped of their details. If it’s truly in move in condition, maybe he’ll wrangle $850k out of someone? Good luck.
The house has a panic room? Is that where you go and lie down if you have an anxiety attack?
A little too close to “The Strip” on Broadway if you ask me.
i also like that he says it was featured on “it takes a thief”…who was the thief…him?
let’s be real…this is essentially bushwick (another block and a half and it is). i will smoke whatever the buyer smokes if they pay anything over $700K for this…and that’s a reach.
I seriously dig the exterior of this house. Location and price, though, I don’t know. Seems pretty high. About the kitchen, I don’t like it but it seems fixable.
Let’s see how quickly he removes the shoutout to your blog after people slaughter his price.