House of the Day: 20 Clifton Place
This house at 20 Clifton Place probably has potential but the lack of interior photos in the listing and the disclosure that it needs TLC makes us think that the asking price of $899,000, which is low for a house in the area, may not be low enough. Especially since it’s only got three stories….
This house at 20 Clifton Place probably has potential but the lack of interior photos in the listing and the disclosure that it needs TLC makes us think that the asking price of $899,000, which is low for a house in the area, may not be low enough. Especially since it’s only got three stories. From what we hear, this is just a few doors down from a notoriously bad drug house on the block. That said, if it turns out that there are some architectural details inside that are still intact, this could be an interesting buy if the price comes down a bit.
20 Clifton Place [ReMax] GMAP P*Shark
The block isn’t as bad as some would make it out to be. It’s actually sorta quiet and really charming – there’s not a lot of traffic, so it’s a great street for playing catch with a dog… Has that end of Clifton seen rougher days? Probably. That whole neighborhood has. But I live a block down and, knock on wood, I haven’t had any problems.
By the way, I adore the big trees and that big Pratt building of the corner. (I think it used to be a girl’s finishing school, or something like that.) And in a few weeks when the tree are in full leaf, that block is just plain lovely…
Run, Run, Run Away!!!
Didn’t anyone learn anything from the financial crisis. There are certain risks that u just can’t price.
U got the ole dope peddler down the street in the ole crack house.
U got the gangstas shooting up the hood and killing the folks.
The neighbors are turning tail and heading for the high ground cause there are 4 houses for sale on the block.
I can just hear the missus.
“Why charlie, this would be such an adorable home. The kids can walk to school everyday and if they don’t get shot that day, little bobby can always stop by the crack house on the way for some dope to sooth his nerves. Oh charlie, think about it, we can pay the carrying costs for two years while the place gets gutted, and the rent for the apt cause I’m tired of sleeping on the streets. This is so so perfect!!!”
I was able to appraise $500K twice. Can’t this be restricted per user?
***Bid half off peak comps***
there are four houses for sale on the block. disclosure: i own a place here. and i love it. the places for sale – with the exception of 22, which may be some peoples’ taste – need a lot of work. i haven’t seen 20, but 24 also needs a lot of work (it is 4 floors though). i think this price seems within the realm of reasonable. the houses on this block have nice proportions – 20 ft wide, 3 floors – great for a two family (like mine) or a very good-sized one family. i think 1.3 or 1.4 would be an appropriate number for a renovated house on this block… one would have to be ready to deal with a major renovation to invest in 20.
Who is the outlier who keeps plugging in appraisals way way over ask? Sebb? The seller? Someone is clearly hoping to drag up the average…
Otis posted that there is also a house that went for sale across the street (17) 2 weeks earlier for $650k. The house had a fire and has been vacant for several years.
I googled it and didn’t find the for-sale listing (has anyone seen it?), but did come upon this passage from “Capote,” by Gerald Clarke.
Clarke writes that in October 1946, to escape his mother’s prying, Capote left their upper East Side home at 1060 Park Avenue to “as far away from her as he could get” — what Capote described as “a little lost mews in darkest Brooklyn.”
Clarke writes, “For the sum of ten dollars a week, an astonishingly low figure even in 1946, he was able to rent two sunny rooms. Filled with enough Victoriana to make even George Davis envious, the house, at 17 Clifton Place, in the Clinton Hill section, was clean, well heated, and as quiet as a church.” But he stayed only a couple of months, it seems. “By December he and his mother had reconciled…although he kept his rooms at Clifton Place for most of the winter, he also spent many nights at 1060 Park, where a measure of quiet had returned.”
“Not sure why it hasn’t sold but it is the site where that guy was gunned down in broad daylight about a year ago…think this has anything to do with it?”
Duh. Wake up people.
***Bid half off peak comps***
We saw it too. Absolutely no details. TLC is the understatement of the year, and we have seen more than one home with a hole in the roof to let you know that we have eyes wide open and good perspective on how bad some of these places can get. This place needs $500k of work, and there is nothing at all to salvage inside – even the wood floors and staircase would need to be replaced. Broker tried to convince us of the possiblity by pointing to 22 as well, but that will never move at the current price so its not a good reference point. There is nobody in today’s market that would expend the effort and renovation costs required unless the ask comes down significantly to around $700k.
During the boom boom times of 2 years ago, with the dreams of sugarplums and endlessly appreciating prices, people might have been tantalized by such a deal. Now the risk of getting the mortgage, putting together a construction team and spending 1-2 years completely reconstructing a total wreck of a building with all of its aggravations looks a lot less attractive, not to mention the pleasures of having your site vulnerable to druggies. Having seen 100+ houses during my search four years ago and my continuing morbid curiousity about what is out there (and for how much), I guess that this is a total wreck inside and would be a 2nd career. The exterior is a 50,000+ job alone. Add new floors, electric, plumbing, staircases, kitchens, bathrooms, the works and well….forget it. It’s at least a 500,000 job and 1-2 years of your life. Hey, but maybe that’s just me.