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]
3:52 PM, you must understand – 3:30 meant white people.
Regardless, I live around near here and I’ll take nice neighbors, great supermarkets, and not that bad of a commute over overpriced coffee, yuppie bars and unruly stroller Moms and kids anyday.
PS (I’m white)
3:43, talk to some Philadelphians.
3:30, “people have been trying in this neighborhood for 20 years”? I think you mean people have been loving this neighbohood for 100 years. In fact, once people buy here they usually stay for 30-50 years! The few houses on the market now are mostly from elderly people who’ve retired or died. Why do you suppose that is?
I have never heard of a neighborhood “de-gentrifying”
WHY? i do not understand why anyone would want to live there. people having been trying in this neighborhood for 20 some years! it’s no where near any of the other brooklyn hoods you could chose from. you will hemmed in without a public school system and little amenities. for what? a stupid old shell? it makes no sense. too far, and too horrible a hood.
Well if Chicken Little is correct, this nabe will de-gentrify and the price will drop by 50%. If this sold at 550K a few years back, then it is worth $275K in this market.
If that makes no sense to you, Chicken Little, then you know why I am calling you Chicken Little.
3:15,
AFAIK the usual procedure for a shell is to get a construction loan, to be followed by a mortgage after the renovation is completed. Perhaps someone less oblivious to finance than me might care to comment further.
OK, OK 2:34 and Nokillissa,
Bare bones version–elderly couple, husband dies, wife moves to a nearby apartment, but can’t bring herself to sell the house, so it remains empty and deteriorates. Very sad, but no real juicy or titillating details. Aren’t you glad you asked?
Please, please, please, Bob?