House of the Day: 180 Adelphi Street
While $1,245,000 may on its surface sound like a low price for a brownstone in Fort Greene, it may not be such a great deal if the house is less than 14 feet wide and devoid of any historic charm, as is the case with 180 Adelphi Street; in addition, the block between Myrtle and…
While $1,245,000 may on its surface sound like a low price for a brownstone in Fort Greene, it may not be such a great deal if the house is less than 14 feet wide and devoid of any historic charm, as is the case with 180 Adelphi Street; in addition, the block between Myrtle and Willoughby is not traditionally the most sought-after location in the neighborhood. The two-family listing isn’t doing itself any favors either with the paltry and poorly-executed selection of photos (we had to hit the pavement and snap this exterior shot ourselves). Come on…
180 Adelphi Street [Awaye Realty] GMAP P*Shark
Open House Picks 4/24/09 [Brownstoner]
Doesn’t look that bad?
ONE POINT TWO FOUR MILLION DOLLARS!
And for this, you get to pay 12K in mansion tax and add an extra point to your mortgage (minimum) for being over 1 mil in loan (if you can get it). 25K added to your nut for the privilege of a reno, and better be sure you’ve got 30$ down.
So you’re looking at over 400K in cash to purchase this turd so you can drop another 100+K to fix it.
Current comps mean nothing. Who care if you’re getting near 2 BR condos…We are deleveraging from the greatest asset bubble in global history.
Don’t think 2004 prices, think 1997….before banks started offering 100% financing and negative amortization loans.
As someone who could afford this craptastic home at the risk of stretching myself thin, I have to ask, who exactly is getting approved for the loans on places like this, and eager to jump in bith both feet?
Nobody, that’s who.
I saw this property shortly after it first listed. It actually is really nice inside and has a beautiful back yard. It is true that it does not have any period detail inside. It is a very modern renovation. Like DeadCatBounce, I was told by a broker that the house was no longer on the market, so it is surprising to learn that it still is.
The comments about Awaye Realty are spot on. It is especially strange that the owner went with this broker given that he passed out a pretty decent flyer with good photos when I saw the house. If you can make your own marketing materials better than your broker, why hire them??
At the risk of sounding contrarian, it doesn’t look that bad to me. The garden looks nice, although I don’t get the deck beyond the bluestone patio, and the house looks to be in good shape. No detail, no character, for sure, but there are things you can do to improve it. It would hardly be my first choice, but at that asking price you’re bumping up against the price of 2 bedroom apartments.
(If you want to see a real dump – and that’s being too kind – go see 358 Prospect Place, HOTD on 6/30/09, for which they’re asking $1.2 million. http://bstoner.wpengine.com/brownstoner/archives/2009/06/house_of_the_da_714.php)
Awaye Realty in my experience are a Joke.
So here we have 3 blurry JPGs in a narrow building on a mediocre block in price depreciated Fort Green, which for the most part will not hold long-term value, and we’re to drop a cool $1.24 Million when they can’t do us the favor of showing real photos?
Worse yet, the sellers expect that buyers will actually come to cisit their norrow abode with this craptastic listing and beer-goggled perspective on architectural photography.
This bubble actually started in 1981. We have a Awaye to go my friends.
Maybe the realty firm will give Mr. B a cut of the sale for his photography work.
i thought mr. b said he took the exterior photo, and i presume it was relatively recently that he did so. i don’t see any trash bags or boarded up windows. frankly, the block looks like a lot of ft. greene blocks to me, with a mix of houses that look well-kept and some that don’t.
Awaye sucks – they rented an apartment I was moving out of and told the new people they could move in the same day I was moving out, even though I still had 10 days left on my lease and needed a day to clean the place.
Poor people who moved in to a not really clean or painted apartment.
Also – anyone know what is up with 165 W 9th St?
http://www.awayerealty.com/detail_rent.asp?webid=850
It’s been done for at least 3-4 years, has been on Awaye’s website for over 2 years, and is still empty.
What is it with Awaye? They have done a terrible job with other listings too – why on earth would anyone use them?
Are the photos blurry? Or am I having a seizure?