House of the Day: 411 Classon Avenue
We’ll say this for 411 Classon Avenue—it’s a better flip job than you generally see in the area. The four-story brownstone between Lexington and Greene on the Bed Stuy side of Classon changed hands two years ago for $890,000. Given the time that’s elapsed and the fact that the kitchens, floors and back yard all…
We’ll say this for 411 Classon Avenue—it’s a better flip job than you generally see in the area. The four-story brownstone between Lexington and Greene on the Bed Stuy side of Classon changed hands two years ago for $890,000. Given the time that’s elapsed and the fact that the kitchens, floors and back yard all look redone, the current asking price of $1,245,000 doesn’t sounds crazy. Unfortunately, that’s not how sales prices are ultimately determined. We suspect that the supply and demand curves may intersect a good bit below this price. After all, while blocks on either side of it keep getting nicer and it has some nice houses, it’s hard to see how Classon Avenue as a whole ever really catches up. Agree?
411 Classon Avenue [NY Times] GMAP P*Shark
“Save your cash for when the Fed is forced to raise % rates due to inflation in about 6-18 months. After that the price of this house will be under 600k – which is still too much for this part of town.”
Very good advice. Not sure about the timing but it is inevitable. The dollar will rebound.
Whats the huge problem next door?
Nice Nice stories. Wonderful people in Real Estate. Loving caring people. Say hello to the meltdown!
Centereach woman pays debt, loses house anyway
http://www.newsday.com/news/local/suffolk/ny-lihome1124,0,1261349.story
Read the comments. You’ll like them LMMFAO 1.2 Million for a shithole. Negative money flows. Gotta love America, where hard work don’t count anymore.
The What
Someday this war is gonna end
It can’t morph into a nice street with those horrific corners.
Just walked by there yesterday. The house next door is a huge problem!
All four corners of Greene and Classon SUCK. The bus stop wall SUCKS! It’s ugly and not worth the money. It’s not nice. Now, if those corners were better. I remember a diner on one of those corners….
And this area has nothing to do with Bed-Stuy really. Well except for the population and class I mean.
No wait! Even the pop & class is different. Young whites are all over this area. I don’t know if they have any more money than the older population. Not so, further “in”. This population distinction between this area–from Classon (really Grand) to Bedford–to THE REAL BED-STUY is striking.
This IS Bed Stuy. The East Side of Classon is where Bedstuy begins… (scores cringe since thier broker told them it was Clinton Hill, alas It IS Bed Stuy)
IMO Classon could very well morph into a nice street – but it does have a bit to go… That being said the location in general is great – and if the house is fully renovated, the price is not so far off the mark given the current comps.
It only takes one buyer.
1:51,
Even Lexington is much better than it was. I remember in the early 90s when there were hookers doing business in cars on Lexington between Grand and Franklin, every day regardless of the hour.
Most of my experience these days is on the B52 bus which turns from Gates to Greene/Greene to Gates at Classon or Frankin depending on the direction, and the B26 which goes to/from Putnam on Grand or Classon depending on the direction.
The area on the other side of Lafayette is very different, with Pratt, the high-rise towers, and the projects separating the parts with Fulton St. as the main street from the parts with Myrtle as the main street.
Nice to see the Clinton Hill/BedStuy border rant again-it’s been too long….
Lets face it-IT DOESN”T MATTER whether you’re east or west of classon by two or three blocks-it’s the same neighborhood and house prices don’t change as you cross the street-nor does anything else.