House of the Day: 110 Lefferts Place
The case of 110 Lefferts Place exemplifies why house-flipping can be a tricky business. The current owner paid $950,000 for the five-story brownstone (which is “not in move-in condition,” according to the listing) last August, suggesting he probably went into contract in May or June. He put the house back on the market in January…

The case of 110 Lefferts Place exemplifies why house-flipping can be a tricky business. The current owner paid $950,000 for the five-story brownstone (which is “not in move-in condition,” according to the listing) last August, suggesting he probably went into contract in May or June. He put the house back on the market in January for $1,100,000, which would have been enough to earn a good return on his equity given that he had managed to finance more than $900,000 of the original purchase. Just last week however, the price was cut to $950,000, meaning that with the broker’s fee, his equity will be wiped out. This stuff always sounds good on the way up.
110 Lefferts Place [Corcoran] GMAP P*Shark
4:24 PM Right On!
You should be the anti What
The When
Someday Fulton Street should be one of the greatest shopping districts in the city….
Fulton Street is getting there infrastructure together. In 5 years the Fulton Street should be one of the greatest shopping districts in the city.
Yeah accept in that instance it made sense because you don’t have to pay for demolition and you don’t have to fight LPC to tear it down. All your dirty work has already been done and all that is left is to build.
Ideas… ideas…
I agree 3:18. I have the same plan as well, but the prices are crazy.
In other cities, rundown properties can be bought at a discount. In NY, it seems like they are more expensive. Anyone remember the doctor who blew up his house in Midtown, but it ended up being worth more as an empty lot?
“At the risk of sounding like Bill Clinton, all we said was this this “exemplifies why house-flipping can be a tricky business” and never said that this guy was one;”
You did n’t say it. But you implied it, clearly.
“Once Fulton Street gets there act together This street will be HOT…”
Sometime in the next century…
So very unproductive brownstoner.
‘the what’ is a tampon.