House of the Day: 49 Putnam Avenue
The situation at this house at 49 Putnam Avenue is a bit suspect. The boarded-up house changed hands for the below-market price of $360,000 in June and is now asking an above-market $999,000. While there are a few nice details left in the house (a couple of fireplaces, some built-in cabinets) any buyer’s going to…
The situation at this house at 49 Putnam Avenue is a bit suspect. The boarded-up house changed hands for the below-market price of $360,000 in June and is now asking an above-market $999,000. While there are a few nice details left in the house (a couple of fireplaces, some built-in cabinets) any buyer’s going to be looking at a full-on reno. Given that the house is only three stories and 2,400 square feet—and on one of Clinton Hill’s less desirable stretches—the asking price seems pretty unrealistic. Hard to see how this goes for more than about $799,000. You also gotta wonder about what compelled the former owner to sell out for so little last summer.
49 Putnam Avenue [Christmas Realty] GMAP P*Shark
How can you monsters hate on our beautiful block, best block in South Clinton Hill, just kidding…true we have a huge junk yard, but stuff is happening around here, (we don’t want to tip off too many people though so we’ll keep the details), and Outpost is a block away with strong coffee…all we need are some trees, really big ones that take 15 years to grow, Putnam denizen and us are starting the Putnam Irving block association…(denizen doesn’t know this yet) to get trees planted from Grand to Classon…We think we may have trouble getting the tenement owners to sign up, or why wouldn’t they have trees already…Ok, also Brownstoner’s comment hurts some, ya, not Clinton Ave and all that, Grand has all the trees I know, your block is fancy fancy, ahhh…fancy Mr. B, we’re happy with Putnam.
At the rate this part of Clinton Hill and the section of Bed Stuy from Bedford on over, are coming together as a desireable neighborhood, it will be 5 years max, and homeowners will be all over it. Not that even $800K is cheap, it isn’t, but whoever takes this and does a quality restoration, will see their investment grow. It doesn’t matter if you like the house, or even the block, or not. People want brownstones. This one is close enough to Clinton Hill proper to be sold, no matter what condition it is. For the right person, this could be their dream house.
I hope a die hard restorer gets it. All that detail deserves to be brought back and cherished for the prize it is.
guess you really have to like brownstones to buy this. so much work, terrible neighborhood. don’t get it. i’ve lived in a brownstone before, so i’m not anti brownstone, BUT don’t see why anyone would live in such a marginal area just for the pleasure of walking up and down a bunch of stairs.
Does the B-man even read all the crap on this site?
I don’t see a “dunghole”, or a “horrible condition”, I see a diamond in the rough. From the pix and lp’s description, she may just need some tlc and long deferred maintainance and system upgrades. I would love an intact one family to play with.
A new roof, upgrade the plumbing and electric, repair the inevitable water damage around bathroom and kitchen pipes, get some new kitchen appliances, and the rest could be nothing more than elbow grease, paint stripper, floor refinishing, lighting and a good paint job. $300K for a good job, $500 if you insist on granite, Sub Zero, and fancy fixtures. If you can get it for $799 to $850, in 5 years, the neigborhood will certainly catch up to your investment. You will also have a rocking intact period perfect one family house. Those are very, very rare, and desireable.
Get mixed up with a dunghole like this and sure enough you’re gonna end up smokin’ doobies all day, living in a van…down by the river
Thanks 9:53, very coherent. Again, this is the exact same size as one our reno projects on the site. But I agree should be 700k (or 400k) or 200k. Who the hell knows what anything is worth. [sound of crickets]
I would pass on this.
The house is small, the location is poor, the condition is horrible.
Other than that, it’s a great family home.
What is remarkable is how slow Fulton has been to improve compared to Myrtle. One would think that having the A/C line right there over the bus or hike to G would have encouraged more improvements. We will see what happens when the condo projects in the pipeline in this area are occupied. I had hopes that the ugliest building in the world (Classon/Fulton) would bring some life onto the street, but two years after being finished it is still vacant. Personally I would think that the near Bed-Stuy blocks near the Y on Bedford (Monroe, Madison, Quincy) might also have some potential for someone willing to take some risks rather than just debate the worth of soap stone versus granite (I have soapstone in case we are voting…)
My aren’t I pugnacious today…