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
4:21 = person bitter they were priced out of park slope.
“You never hear Manhattanites saying “why would I buy that two bedroom in the East Village when I could get something now quite as nice on the Upper East Side?”
That’s funny…I hear this all the time.
4:21
The PLG boosters chime in all the time about buyers should look there when they are asking for something affordable in other neighborhoods.
“Hey folks about 2 weeks ago a young woman was stabbed about 9 times (once in the head) in serene Park Slope (Berkeley and 6th ave.) and of course it was not covered fully by the media. So folks continue to walk around PS oblivious to what’s happening out there.”
It was covered everywhere and the guy who did it was caught.
Unlike the gangs of teens roaming and getting angrier by the day in Clinton Hill.
4:23, lame, very lame.
What makes me sad is I look at stuff like this and think, great house, someone has had a pretty nice life there for thirty years and whoever buys it for several million dollars more will never have the same.
So… either someone with really bad financial sense will buy this, live on two floors (which they could rent for maybe $2500), and try and evict the tenants who’ve also managed to have a nice life while paying an absurd mortgage…
Or it will be sold to investors for a condo conversion, and after several years in housing court renovation will commence and the condos won’t sell and the investors will turn them into market-rate rentals, which STILL probably won’t cover the mortgage.
In this climate I really think there’s no win.
I’m going to say it just one more time. When you buy a building like this with 4 apartments and rent-regulated tenants, you are not buying a home, you are buying a business. A pretty crappy business to boot, where the owner has all the legal repsonsibility but none of the control.
If you want a home, find one, if you want a business/investment property, buy this building.
I live in the Slope and I find the slopejacking on this site annoying.
4.22, you’re clearly missing the tongue in cheek posts people are making. Keep dreaming. This price is high considering the rent controlled tenants, not for any other reason. It’s a great location, which is why there have been so many high priced sales nearby in the past several months.