House of the Day: 1860 Bedford Avenue
When we were house hunting back in 2004, the beautiful but neglected brick house at 1860 Bedford Avenue in Lefferts Manor was on the market for about $550,000 if we recall correctly. (This makes us think the $185,000 sales price from 2004 listed in Property Shark is not correct.) Now it’s back on the market…
When we were house hunting back in 2004, the beautiful but neglected brick house at 1860 Bedford Avenue in Lefferts Manor was on the market for about $550,000 if we recall correctly. (This makes us think the $185,000 sales price from 2004 listed in Property Shark is not correct.) Now it’s back on the market for $900,000. According to a tip we received, the current owner bought it with the intention of moving his medical practice, only to be stymied by zoning restrictions. He’s completed the interior demolition and put in new joists and sub-floors but that’s about it: Tabula rasa for the right owner. As great as this house could be, this price seems like a big stretch given how much money will have to be put into it. Agree?
1860 Bedford Avenue [Fabrikant] GMAP P*Shark
What’s Up with 1860 Bedford Avenue [Brownstoner]
9:02 wrote: Is this true Bob?”
What, that $900K is a steal? (Well….) or that a similar [beautifully renovated] house down the street appraised for $1.5 million (very likely).
I don’t really knows what a fair price would be–my gut tells me something between your figure and the asking price, but what do I know?”
I just spoke to the broker and will be @ next open house for I’ve always wanted a place like this. But the broker (who seems like a nice guy) is convinced that 900K is a steal and he compares the place to properties in PS or the fact that the appraised sister property down the street appraised for $1.5 million. Is this true Bob?
I personally think a fair price would be around $700k but who knows. The fact that there are more intact houses for sale on Midwood probably will bring some sense to this greedy owner……….
You guys are behind the curve. This house has sold and is slated to become a hair and nail salon.
Even if there really were 20 houses for sale in Lefferts Manor (which would mean they’re all on Midwood per Bob’s joke, because none are on our own street) keep in mind there are 600 houses in Lefferts Manor. You know, just for perspective.
People in the neighborhood are hopeful somebody will buy this particular house and fix it up. So they speak highly of it here. But it’s without question overpriced for all the work it needs. If the sellers were truly serious about unloading it they’d set a floor or minimum that would cover what they owe on it and have an auction and get it over with.
Thanks Bob. And you’re right. Not much fun there with that one.
This house does seem like a truly beautiful potential, but I am totally unfamiliar with the neighborhood.
It reminds me a touch of the “shell” of a mansion with great potential and beauty on Washington Ave. in Clinton Hill. The difference is that the brokers are smoking crack on that one. Asking more than 3 mill.
Anyway, just an opinion. Maybe I’M smoking crack to think there’s any comparison. Hmmm, am I smoking crack?
6:20,
I have no idea what price the owner actually actually expects to get. When he withdrew the house from the market a few months ago there were rumors that he did not intend to do anything at all with the property for a few years. I guess those rumors were wrong and I’m glad that the house is back on the market.I live around the corner and am tired of seeing it in it’s present sorry state. You ask “Why would you buy this house if you could get a house with walls, windows, plumbing, and floors down the street for the same price?” Most people would NOT do so.I probably would not (I LIKE traditional brownstones AND would have neither the courage, nor the resources to take on such a project), BUT this house is VERY different from a traditional brownstone and has very special qualities for the right person who, I hope, would be very happy there.
Bob, I know you spoke to the realtor, but honestly, the owner can’t POSSIBLY be “really ready to sell” if they’re asking $900K.
Why would you buy this house if you could get a house with walls, windows, plumbing, and floors down the street for the same price?
I know this house has potential but that asking price is just too high to be taken seriously.
5:09,
“Half of Midwood II is for sale!” Really?
There are 84 houses on Midwood II. I live there. I don’t know of 42 being for sale. I do know of 2. You wouldn’t be exaggerating a touch, would you?
You resort to name calling when you’re called out for dramatizing? There are not 20 houses for sale in LM; Brownharris does not have 5; Corcoran does not have 5. C21 does not have 3: there are not 7 others. Midwood two has 3 houses that were owned by lonnnnnggg term residents who have retired or died. There are only two houses for sale on the block by owners who haven’t lived here for over 30 years. It’s about time there is some turnover on the block. You try to make it seem like these are all houses that are occupied by gentrifiers who are fleeing. Not the case.