House of the Day: 202 Clermont Avenue
While this four-story brick townhouse at 202 Clermont Avenue still has many of its original details, they are overwhelmed, in our opinion, by the charmless, albeit thorough, renovation that was performed back in 2005. If there was any doubt that the person doing the renovation did not understand the aesthetics of most potential buyers, just…
While this four-story brick townhouse at 202 Clermont Avenue still has many of its original details, they are overwhelmed, in our opinion, by the charmless, albeit thorough, renovation that was performed back in 2005. If there was any doubt that the person doing the renovation did not understand the aesthetics of most potential buyers, just check out that garden or the bathrooms. It’s too bad because the raw materials were there. It looks like the current owner paid $1,625,000 for the house in 2006, probably just as the previous owner was completing the renovation. It went on the market in March asking $1,725,000 and was cut to $1,675,000 in May, where it remains today.
202 Clermont Avenue [Brooklyn Properties] GMAP P*Shark
Oh, thanks, DIBS, now I know what you mean. (I like to learn a useful tip as a bonus when I check in on the guessing game about prices.)
I visited this house. it’s a nice piece of property and I was impressed overall. Personally I would ultimately completely gut the back yard, it’s unfunctionally formal, but it works for now. Nice woodwork and a very nice kitchen.
But it is very far from mass transit—close to a 15 minute walk.
This said, $1.675M is not Fort Green-appropriate pricing in my opinion. No schools, late to gentrification party, much less services than more established nabes. And this is established nabe pricing.
Far more likely to sit as buyers are reluctant to jump into the hood (despite the awfully ncie housing stock) at these levels. Requires 400K+ minimum (25-30% down payment plus mansion tax and closing costs) to get started. A very risky proposition for a large capital outlay.
So it will continue to sit until it’s a compelling value proposition vs the risk of deploying that sort of capital and mentally committing to private school and a long shlep to the train.
Anyone with this sort of scratch ready to go (I am one) isn’t going to roll the dice on Fort Green holding value in the near term, or bounce back quickly. So why jump in. Sideliners like myself wither want value, or then a more established neighborhood given the economic outlook and cutbacks in services forecasted over the next decade.
man, this house getting too much positive commentary. need this to drift to 950-975k – a level where cashflow on it makes sense on a rental income perspective plus it would be a bargain (dare I say that)
dibs to be fair, there is good engineered flooring, some made in Europe, and then there is the plastic version you can by in Ikea. But I can see what you wouldn’t want it in a reno of a historic brownstone, high quality or not.
laminate flooring….usually about 1/4″ thick, interlocking and laid ontop of a resin paper. They sound like you are walking on plastic.
DIBS, seamless, shiny and missing anything approaching wood patina. Methinks engineered for certain.
I have to agree with Mr. B on two of the bathrooms. It does indeed appear that “Dina Whatserface” designed them (thanks Luce! I got a genuine laugh from that one).
NEWSFLASH: PRICES ARE OFF THEIR PEAKS.
Glad I got that off my chest.
Boroughbred, if you are calling me delusional, I’m in very good company – clearly many other buyers and market watchers/experts are in agreement with my bets. And I would call predicting a return to 1995 prices delusional, but 2003-2004, or even 2002, prices pretty darn moderate (since, as we all know, prices were still pretty high then, just not gravity-defying as they became in last few years).
What are “engineered floors”?