House of the Day: 148 Clinton Avenue
Listed at $1,995,000, the 6,750-square-foot free-standing house at 148 Clinton Avenue looks like a pretty good bang for your buck as far as Clinton Hill goes. Although it’s located to the north of Myrtle (typically less desireable than to the south), the sub-$300-a-foot price tag is compelling. If you can get past the Flintstones-themed facade,…
Listed at $1,995,000, the 6,750-square-foot free-standing house at 148 Clinton Avenue looks like a pretty good bang for your buck as far as Clinton Hill goes. Although it’s located to the north of Myrtle (typically less desireable than to the south), the sub-$300-a-foot price tag is compelling. If you can get past the Flintstones-themed facade, the interior actually has a decent amount of original charm, though it’ll need plenty of work. Given the size and the large floor plates, we suspect this is more likely to appeal to someone as a condo conversion than as a family house, but you never know. Thoughts?
148 Clinton Avenue [Bellmarc] GMAP P*Shark
Forget the AY effect, what about the BQE effect? Personally not a big fan of having a hideous Robert Moses overpass at the end of my block. I’m just sayin’.
Nice square footage, though.
We had a thread about Banton not too long ago and it was way cool. Some great lyrics.
The facade cold be easily restored. But it would not be cheap. The entire facade would need to be re-brownstoend $60,000; and the front door and transom re-created $15,000; new ironwork 20,000; contingency 10,000; approx. total 105,000. That does not include windows, repair of the cornice, assuming it is still there behind the aluminum panels, or repairs to the sidewalk. So call it $120,000 all in all. You can probably get that knocked off the sale price.
Hey Daniel (guest) Goldstein, the far-reaching effects of AY will include less below-market-rate housing than already exists in the area, and a stronger pricing market as a result. Get used to it already and stop hating.
Wow, i didn’t know what to make of this site, after reading some threads these past days I’m definitely sure I don’t belong here and after reading the post advocating a down payment of $598,500(30%) ARE YOU PEOPLE CRAZY, this is clinton hill brooklyn.
I also love Buju Banton. Man I’d love to see him live!
Is this really “prime Clinton Hill”? Clinton Ave. is still nice north of Myrtle, but is this actually the “hottest area of Clinton Hill”?
2:59, what’s your math that makes this a good, income-producing property? (I’m not disagreeing, just wondering what numbers you have in your head.) Say you were able to get $2500-$2700 a floor, you’re still short of the mortgage payment (assuming you put 30% down), and you’re not living in the building. You’re buying at the top of the market, so I don’t you should count on any price appreciation over inflation (at least not for five years or so). And you’re foregoing the $50K a year you’d get if you put the down payment into the stock market. Not sure how the math here really works.
High, high rents? The mortgage would be about $13,994/month, divided by 4 units makes an average rent of $3498.50, just to cover the mortgage, never mind everything else. Not feeling it.
Buju Banton rocks. Thanks for the link.