House of the Day: 472 Washington Avenue
Perhaps the news that the derelict house at 470 Washington Avenue was getting a makeover is what inspired the next-door neighbors at number 472 to put their four-story brownstone on the market just before Christmas. There aren’t enough photos to say for sure, but it appears that the house has retained most of its original…
Perhaps the news that the derelict house at 470 Washington Avenue was getting a makeover is what inspired the next-door neighbors at number 472 to put their four-story brownstone on the market just before Christmas. There aren’t enough photos to say for sure, but it appears that the house has retained most of its original detail. No word on when the last time the plumbing and electrical were upgraded. The asking price of $1,875,000 is definitely in the right ballpark, assuming the market doesn’t take a nosedive this month.
472 Washington Avenue [Corcoran] GMAP P*Shark
3:56/newsouthsloper, what seems trollish about your comment is calling this Bed-Sty. It is clinton hill and far closer to fort greene than bed sty. And yes, 4 stories in CH cost 1.5-2M now. If you’ve seen nicer places for this price in s. slope then mybe you should realize that many people prefer CH to what is now called south slope.
The asking price of $1,875,000 is not only NOT in the right ballpark, it is not even on the right planet.
The What is a crack whore.
Hey assholes, Get a fucking clue! It’s 2008 not 2005! There is no Bank or Underwriter is going to OK overprices shit. Our Economy is in some serious fucking trouble. Hey Brownstoner, do you need comps for that bullshit you put up here??!!! I will do it for free just sent me the address. It’s so mother fucking over! Rest in peace Mutant Real Estate Bubble 2001- 2007.
The What *lmfao*
Someday this war is gonna end…..
The prices have been very high over the past two years for beautifully preserved and rstored houses on the nicer streets and for top-notch apartments in elevator buildings.
The outlandish ask prices for second and third tier properties, such as this one, is a mystery. I do not think anyone could make this little flats building financially viable and it would cost a great deal -and take over a year -to turn it into a single family building. I don’t get it. The numbers do not work for these types of properties.
3:56 Here – no intent to be trollish at all seriously. I just remember looking at homes or potential investment properties when this neighborhood was all the rage like 1 – 2 years ago. The places I saw were like 750 – maybe 999 for a nicer property. I never saw anything in the $1.5 – $2 mil price range.
Maybe this is an exceptional area or property or something? I dont mean to sound trollish, I am just truly surprised.
3:56 – are you being clueless or provocative when you ask about townhouses in Bed-stuy? Or, shall we say, trollish?
I had read here that one could no longer buy brownstones in this neighborhood and cover the costs through rentals. And certainly most renovations I know about seem to be going the other way – tajing SROs and creating one, two or three families. Referring to them as walk-up “tenements” (do you understand what that term means) or “flats” (uh, are you British?) seems to miss what has been happening in this neighborhood. But hey, I don’t have a crystal ball – maybe next year there will be ten families from Poland or the Balkan territories of the Austro-Hungarian empire leaning out the windows calling for th ragman…
Ok, I’m 3:58 — the one who emphasized that the building is way overpriced. However, I don’t think the market in this neighborhood is a sinking ship. I think the market in general sucks for sellers, but anyone buying in this area is making a wise decision in the long run. It’s just that this particular building won’t go at this price because there are comps with WAY MORE to offer, such as for instance, the Ft Greene Federal Townhouse right by Ft Greene Park (gorgeous block, willoughby, tucked away from traffic but right at the park), close to all cafes/restaurants/transport. It’s a little smaller, but it’s been renovated!
I don’t mean to sound like a broker, and this renovation might be a POS hence the very few photos (which show very little promise, frankly). But look at that price comparison. This place at least makes sense– and even IT might be overpriced considering market slump and lack of details.
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1151466&ohDat=1/5/2008%2012:00:00%20AM;
4:57 — I don’t think it’s that easy to go from single family to 8 family. Am I crazy, or is it actually getting really hard to divide single family units?