House of the Day: 456 Bainbridge Street
It’s tough out there for a house in Bed Stuy. While houses in some of the more expensive neighborhoods in the borough continue to hold their value relatively well in the face of the national housing crisis, neighborhoods like Bed Stuy, which has had its share of subprime and foreclosure problems, are having a tougher…
It’s tough out there for a house in Bed Stuy. While houses in some of the more expensive neighborhoods in the borough continue to hold their value relatively well in the face of the national housing crisis, neighborhoods like Bed Stuy, which has had its share of subprime and foreclosure problems, are having a tougher go of it. Take, for example, the case of the 456 Bainbridge Street: The three-story house still has lots of original detail in the owner’s duplex and a two-bedroom apartment on the top floor to help cover the mortgage. It’s been a long, unfruitful sales process thus far. The house hit the market last July for $695,000 and has undergone three price cuts since, culminating with that week’s that brought the asking price to $525,000. Think this will be the magic number?
456 Bainbridge Street [Douglas Elliman] GMAP P*Shark
Price Cuts at Bed Stuy Townhouses: Is This a Trend? [Brownstoner]
I’m disturbed by comments about alleged anti-white racism in Clinton Hill. I am one of those white latecomers you hear about, have been in this neighborhood for only two years. After twenty years in New York City I can say this is honestly the friendliest area I have lived in — certainly light years friendlier than the Upper West Side or Lower East Side, areas where I lived for a long time.
To those who complain they’re encountering hostility, I suggest you get back what you put out in this world.
As for the house, it looks a great entry-level opportunity. If I had had more vision and gumption, I could have bought a place like that here in Clinton Hill some time back instead of wasting my time renting in Manhattan.
I cant believe it. 100 and something posts and this POS is not even in Bed Stuy……
In 1990 most of Smith st. was terrible after 9 pm. That is Cobble Hill. In 1985 a building on 6th ave in Park slope sold for $16,000. That’s right, sixteen thousand. Aboandoned drug house. In the mid 80’s lofts in Soho sold for $60,000. Buildings in Tribecca (befor it was known as that) were sold for $1.00 by the city. They were drug riddled slums. The guy who has been around for ever must be between 12 and 25 years old.
Dave where in Bedford Stuyvesant?
2:02 If you have lived here forever, why refer to only 10 years ago. how about 20? Getto, getto and ghetto! Brooklyn did not start 10 years ago fool
Anyone interested in investing in other Bed Stuy properties? We’re looking at a number of mixed-use buildings and looking for additional investors??
you would think with Bedford Stuyvesant having over 4,000 brownstones the largest number of brownstones outside Harlem this site would have at least 2 HOTD of the area a week. Most people cannot afford 2 million dollar homes in Ft Greene.
Dave I think Bedford Stuyvesant is a interesting area good and bad… I think people that really want a nice should go there.. But I have to say I like the south west part of the area…
Every open house that I have been to in Bedford Stuyvesant the turn out is always about 95% non African American… You stand in the AC platform at Nostrand or Fulton you see every type of people.