House of the Day: 52 South Oxford Street
Um, no. An unrenovated SRO, five stories or not, on South Oxford Street for $2,500,000 in this market? Don’t think so. There’s some nice detail left and, according to the listing, 6,000 square feet of space, but given the headaches and delays associated with the SRO status and the time value of money, we think…
Um, no. An unrenovated SRO, five stories or not, on South Oxford Street for $2,500,000 in this market? Don’t think so. There’s some nice detail left and, according to the listing, 6,000 square feet of space, but given the headaches and delays associated with the SRO status and the time value of money, we think the sellers of 52 South Oxford Street are going to have to come down in price to get a deal done, especially given the unfortunate facades of its two neighbors (both of which serve as useful reminders of the importance of landmarking).
52 South Oxford Street [Clinton Hill RE] GMAP P*Shark
4:26 – can you show me the five-story places that are sitting on the market on not selling for $2MM – I think I might be interested in them.
I, too, know someone who lives in this building. Is it true that a certificate of non-harassment would be all that would be required to vacate the building? This person never signed anything to that effect; does that make a difference?
Lil’ Piggy is a cheap date with a heart attack.
Rice is lousy.
That’s “hushed voices”, not “pushed voices”.
So, 8:57, you did “quite a bit of reno.” and didn’t get it permitted (“worrying about the city”)! If you’re in PS, I’m shocked no one called in.
You mean to tell us, you got a first mortgage and refied and no one mentioned anything about it having been an SRO? The documents had to list the CoO status all over the place….It must have been an SRO a rather long time ago and de-SRO’d way before you’re tenure in the house!
I mean, your property tax status is based on this! The “class” of your building is on your tax statement I believe. Hhhhmmmm…
Strange…
You can convert an SRO, as described above–however the problem is getting a bank to finance it. It wasn’t easy a year ago and I’d bet it’s near impossible these days, with the banks cracking down on every type of mortgage. If you can pay cash, you’ll get a deal on this house.
Where to eat in Ft Greene for under $10? Little Piggy Market or Rice.
Of course it’s not as hopping…but that’s okay. It was neurotic for a while there in the US and NYC. I couldn’t take the frenetic, edginess with the real estate craze going on. It was kind of revolting.
Now it is simmering down and will maybe even be depressed and we’ll be able to refocus on other things.
I hope.
Who knows if readership is down. It just seems there are fewer posts that get people’s ire up enough to bother commenting. It seems the fights over “my nabe is better than yours”, “my kitchen counter is cooler than yours”, and “my friends’ recent bid they were outbid on is more fabulous than yours” is over.
People are giving up the battle because they realize it no longer seems winnable. The hot air is escaping the balloon. I worked at a major corporation (L*****) while it scaled the heights and then plunged down the other side. It was depressing…there were only pushed voices to be heard during the bad times when it was all boisterousness and light during the rah-rah good times.
But, there are lots of other things going on in Brooklyn nonetheless. Let’s hope this real estate bubble doesn’t sour everything for most people. Most of us are still standing, we have responsibilities: childcare, eldercare, self-care, hobbies, jobs (for now), interests, neighbors and neighborhoods, community gardens… there is other stuff to focus on that doesn’t rely on money and real estate values.
Brownstoner and Co. are already tryin to focus the blog on a lot more than just real estate…unless it’s my imagination. It seems it has focused away from RE and toward lots of other things.
Seven years ago we bought a 2-fam. in Park Slopre which had been a SRO (we think) and had neither a CO nor a CNH.
Had no problems with finance, or re-fi two years later. We did quite a bit of renovation w/o worrying about the city.
Are we worried about the remote chance that we can get caught up in the CNF hassle? No.
I guess ignorance is bliss.