House of the Day: 404 Hancock Street
When we included 404 Hancock Street in a batch of Open House Picks in late July, it had just hit the market with an asking price of $1,200,000; now, six months later, the three-family brownstone is looking to fetch $990,000. The house has undergone a renovation which, while a little glossy and Home Depot-esque in…
When we included 404 Hancock Street in a batch of Open House Picks in late July, it had just hit the market with an asking price of $1,200,000; now, six months later, the three-family brownstone is looking to fetch $990,000. The house has undergone a renovation which, while a little glossy and Home Depot-esque in terms of fixtures, looks to have been fairly comprehensive (at least for the completed portions—the listing alludes to the renovation not being finished yet). We suspect the price has further to fall. At this point, it’s going to take a special house to fetch a million bucks in this part of town and, while it has some very nice woodwork, it feels like some charm was lost in the renovation.
404 Hancock Street [Corcoran] GMAP P*Shark
Open House Picks 7/25/08 [Brownstoner]
mopar…what’s the verdict on the termite damage to the joists?
You guys should check out this August 6 1893 article about Hancock Street from the Brooklyn Eagle :
http://eagle.brooklynpubliclibrary.org/Repository/ml.asp?Ref=QkVHLzE4OTMvMDgvMDYjQXIwMDUwMQ==&Mode=Gif&Locale=english-skin-custom
It tells a bit who these houses were built for…
Those are nice rentals, but $1500 each for one bedrooms? Really?
We’re sticking with the Adams Family look and leaks at half the price.
Nice house. For the same price–say 850K–I’d go for the one on 19th street.
Bolder…when I bought my place in Bed Stuy in 2007 the market in harlem was certainly way above those levels. Entry point was $1MM and you got, at best, a gutted building on a not-so-great Street. Harlem did very well from 1995 to 2007.
So too did Bed Stuy but you could still get a fully renovated house with all the architectural details for well under $900k.
The owners duplex is not finished yet. All of the photos online are the rentals
Note that 990 is the “completed” price. I suspect the “as is” price is whatever you can come up with in cash. So if one unit is finished, you could get into it for, say, 700k, then finish it yourself or just wait awile.
Personally, I like this house. As an odd comp, we have acquaintences who bought a brownstone on W. 122nd st. in harlem around 2000. For a total of about 1 mil including purchase price, they gut renovated into owner’s duplex, and 2 br floor throughs on 3rd and 4th floor. They were asking 1600/mo in early 2003 when they finished the reno.
So prime Harlem in 2003 = Bed Stuy in 2009? I think B/S still has a ways to go down, unfortunately.
DIBS – I’ll bow to your knowledge on the reno costs. It didn’t look like a particularly high-level renovation job to me, but it’s not an area I have a ton of expertise in.
I don’t take offense too easy Dave…. Posting and working at the same time on here I have not mastered yet…. Your name comes up often at our landmark meetings we like you in the hood..
Queen of Hancock:
http://bstoner.wpengine.com/brownstoner/archives/2005/04/the_queen_of_ha.php
BedStuy Architecture:
http://www.nyc-architecture.com/BES/BedStuy.htm