House of the Day: 266 Stuyvesant Avenue
Most recently used as a school, the four-story brownstone at 266 Stuyvesant Avenue in Bedford Stuyvesant still retains much of its original (and quite impressive) woodwork. It’s definitely going to need some work (how much, we don’t know) but it’ll certainly be an interesting barometer of the Bed Stuy market. Priced at $699,000, it’s in…
Most recently used as a school, the four-story brownstone at 266 Stuyvesant Avenue in Bedford Stuyvesant still retains much of its original (and quite impressive) woodwork. It’s definitely going to need some work (how much, we don’t know) but it’ll certainly be an interesting barometer of the Bed Stuy market. Priced at $699,000, it’s in the first-time family homebuyer range for sure. In this market, though, we’ve got no idea whether this is a $699,000 house or a $599,000 house. Let’s think about the math: If you bought it at the asking price and put another $100,000 into it while racking up a $600,000 mortgage, your monthly costs, with taxes, would probably be somewhere in the mid-$4,000s. If you could rent a duplex out for, what, $2,000, then it could cost you less than $2,000 a month after tax to own this place. Not crazy.
266 Stuyvesant Avenue [Stuyvesant Heights Brokerage] GMAP P*Shark
“‘More whites’ is not the reason the crime rate has gone down in Bed-Stuy. It has gone down because of the commitment of longtime residents.”
This is such a bullcrap argument. If it were the longterm residents, then why didn’t they fix their crime problem earlier? The longterm residents are the crime problem. Nobody ever went to bedsty from somewhere else to commit crimes against people and property. It was bedsty’s own residents.
seems far from the subway
kdabrowski, I’ve lived here my whole life and I know plenty of people who make enough money to care for their families because that’s the responsible thing to do. They pay their rent/mortgage, child car, food costs, etc. MAny waited to have children or a house until they could afford them – novel idea, huh? Children are people to whom you have an obligation, not property to which you have a right. If you couldn’t afford them and their care, you shouldn’t have had them. If you had them anyway, nobody owes you a nice house in a nice neighborhood or cheap rent. It’s your own fault. Go get a job like the rest of us.
” Factor in the cost of private school for 2 kids at 20,000 a year and you can kiss the rental income goodbye!”
Exactly. Tuition for just one kid is 20K a year, so the theoretical 24K in rental income is gone.
“If 2 parents can’t pull down enough in NY salaries to pay 2K/mnth for a home for their kids, they aren’t even trying. Get a job or stop complaining that you can’t afford your home.”
Hello? I work in publishing and have a relatively high-level postion–which brings in just 85K a year. My wife free-lances (and cares for the kids), which brings in 15K. Unless we skip food, clothes for the kids, and all the true essentials, we cannot possible cover 4K a month–which is 48K a year, or almost our entire take-home. No way am I going to stretch the income and put the family in jeopordy in order to live in Bed Stuy.
I own in Stuyvesant Heights and charge $1650 for a floor through apartment. My neighbor across the street charges $1800. I am sure in three years $2000 will be the norm here.
“More whites” is not the reason the crime rate has gone down in Bed-Stuy. It has gone down because of the commitment of longtime residents. The improvement of the US economy and general reduction of NYC crime during the 1990’s didn’t hurt either.
Brooklyn is over.
It has become too expensive.
only the drone-workaholics can afford it any more.
Anyone with any interests other than making money would do well to seek new pastures.
It is a big country. there are a lot of intersting places, and they are attracting the folks who would have otherwise moved to Brooklyn.
This whole Borough thinks it is one giant Greenwich, Connecticut or something.
fuhggedaboudit!
bed stuy and clinton hill are not for families. anybody who does that to there fam. is irresponsible. Its like using your kids as pawns to see if you can make a couple of bucks if the hood ever gets nice. Factor in the cost of private school for 2 kids at 20,000 a year and you can kiss the rental income goodbye!
AS MORE WHITES MOVE IN THE NEIGHBORHOOD CRIME WILL GO DOWN MAKING THIS A GOOD INVESTMENT.