House of the Day: 306 Washington Avenue
This five-story brownstone at 306 Washington Avenue in Clinton Hill is an impressive place. Owned by the same person for the last three decades, the house has beaucoup original detail—crown moldings, pier mirrors, the whole nine yards. The only downer is the fact that it’s a four family house and the three floor-through apartments are…
This five-story brownstone at 306 Washington Avenue in Clinton Hill is an impressive place. Owned by the same person for the last three decades, the house has beaucoup original detail—crown moldings, pier mirrors, the whole nine yards. The only downer is the fact that it’s a four family house and the three floor-through apartments are generating a measly $3,021 per month. Given the cost of converting to, say, a two-family, the $2,300,000 asking price might be a bit on the high side. What do you think?
306 Washington Avenue [Douglas Elliman] GMAP P*Shark
“but better, restaurants also”
where? i haven’t seen any?
i’d rather have 200 to choose from on 7th and 5th avenue any day.
Polemicist: the truth is that in housing court all renters are protected. Evicting a tenant in the People’s Republic of Brooklyn is complicated and expensive even if they are not rent regulated, If they are rent regulated then I would say it is next to impossible. Everyone here acts like this is Florida. This is Brooklyn, renters rule. Buy a house with an existing tenant at your own risk. Remember if the prior owner could have gotten them out, they would have gotten them out.
“Perfect opportunity to convert to single family home” -after spending seven years in housing court!
you could get a beatup place in north slope near 4 or 5 ave for 1.4 and probably have to spend 300k or so to fix up.
this house is way too expensive.
A four-unit building with rent-stabilized tenants is a nightmare.
No one on this site ever seems to have a clue about NYC rent regulation laws. Which makes me think this site is mostly read by suburban high school students.
If the place has rent stabilized tenants, the fact should be mentioned in the listing. The brokers explicitly say ‘Perfect opportunity to … convert the entire property to a stately one-family home.’
An owner can terminate the rent stabilized leases if the house will be converted back to a single family home. This will undoubtedly cost many tens of thousands of dollars in legal fees however. The current seller should take care of this himself and sell the place free and clear, otherwise a substantial price reduction is in order.
Also, the place was likely converted into 6-8 apartments (2 per floor). That is really the only way it could have been subject to rent stabilization as 3- and 4- family buildings are exempt. That means the place is probably not in the best of shape on the inside and those floor plans for the upper floor apartments are probably BS
2.3 is not going to get you a nice north slope house.
maybe one needing work, or between 4th and 5th or possibly up to 6th avenues.
the north slope houses near the park i’ve been looking at have been near or over 3 million.
wow with tenants that are rent stablize would even get you a bigger discount.