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
1:53, you’re wrong. If you zoom in closely on this listing, you’ll be able to spot in the garden the rock under which The What lives.
I dont understand. He bought it for 950K, did nothing to it and expected it to sell for $1.1M. Even in the hottest day of the market, who would pay $150K more for nothing in exchange?
It’s a real estate listing people. It’s a LISTING. It’s public information. My goodness.
As someone who has had their house labeled as a flip job on this site, when there where other circumstances.
There’s not a lot you can do.
Brownie doesnt have time to ask questions first.
As painfull as it was, you just gotta hope he posts another “Flip Job” that afternoon to take the heat of you.
this has probably been discussed before, but honestly, what are the legal ramifications of posting a public listing on a web site? Mr What, if this had been your home, what recourse could you really take?
people have strange ideas about what web sites are, and what info is or is not in the public domain.
Trust me The What.
Im pretty sure your house is not going to make it onto this site.
Just a hunch
amen, 1:47
And it previously exchanged hands on 2/23/2006 for $435,000. The title history is very convoluted.
this is a lesson to people who buy in fringe areas.
i won’t be suprised to hear MANY more stories like this about clinton hill, bed stuy and crown heights.