House of the Day: 146 6th Avenue
Here’s a big ole brownstone on the nicest stretch of 6th Avenue that just hit the market—for the first time since 1979! The five-story house at 146 6th Avenue in Park Slope has 4,700 square feet of space according to the listing (Property Shark says 5,100) but “needs tlc.” The only photo provided, of an…
Here’s a big ole brownstone on the nicest stretch of 6th Avenue that just hit the market—for the first time since 1979! The five-story house at 146 6th Avenue in Park Slope has 4,700 square feet of space according to the listing (Property Shark says 5,100) but “needs tlc.” The only photo provided, of an antique marble sink, suggests that it needs a lot of tlc, as does the fact that it hasn’t changed owners in almost three decades. Still, could be a killer pad. How do you think the asking price of $2,750,000 will fly?
146 6th Avenue [NY Times] GMAP P*Shark
Photo by Kate Leonova for PropertyShark
Bold type guest = DaveinBedStuy
He got sick of people making fun of him and changed his name.
This one is way out of my price range but did anyone check out the Corcoran listing on 12th St for $1.5 over the weekend? It looks like a sweet house though I’d love to hear from someone who’s been inside.
Center Slope has the R train too.
I would buy one. Maybe get one vintage at the flea! He would be practical AND lovely. I think mine would wear a tie.
z – your math leaves out all kinds of hidden costs, i.e. closing costs on such a big property etc. And 1 million is a very conservative estimate for renovation, since bare bones renovation is 200 psf, but if you’re talking about trying to make high-end condos that will make a profit, you’re going to have to spend significantly more. And all this at a time when financing is drying up, there is great uncertainty in the NYC real estate market, and the economy is weak. Not to mention that the guts of this bldg are a mess, there is a potential title dispute, and a lawsuit with entrenched tenants. I think even without all of these issues, 2 mil for this heap of junk would be optimistic.
Biff, I really believe that weathervanes are only correct for a gable roof and totally out of character on a brownstone…somewhat akin to recessed lighting. She could however be positioned in a “widow’s walk” I know there is that lerge yellow corner house in Ft. green (?) that has one.
“Neighborhood is pretty good (but it is not center slope).”
I’d argue that you are in the best part of Park Slope. Center Slope is bound by the F train only, where the North Slope has the 2/3 and Q. The better architecture tends to be in the North near the named streets as well…
Nokilissa, a semi-nude contortionist on the roof of each house would be a novel and practical way of determining wind direction!
2,750,000 purchase price
1,000,000 renovations to build 5 decent floor-throughs
———
3,750,000 total cost
divided by 5 = 750,000 per condo
so the condos would have to sell for at least 800-900k to make a profit. not impossible, but could be difficult unless the finishes are very nice. if there are rent controlled tenants, then good luck.