House of the Day: 225 Garfield Place
This brownstone at 225 Garfield Place in Park Slope was an Open House Pick on Friday but it clearly deserves the full House of the Day treatment. Exterior? Great. Location? Great? Gut renovation? Extensive and probably expensive. Does it work for you? More importantly, can it fetch the $2,290,000 asking price? 225 Garfield Place [Corcoran]…
This brownstone at 225 Garfield Place in Park Slope was an Open House Pick on Friday but it clearly deserves the full House of the Day treatment. Exterior? Great. Location? Great? Gut renovation? Extensive and probably expensive. Does it work for you? More importantly, can it fetch the $2,290,000 asking price?
225 Garfield Place [Corcoran] GMAP P*Shark
Tybur6, there are hundreds of thousands of middle-income New Yorkers living in areas with decent enough public schools (or Catholic schools, where lots of kids learn, you know, grammar and stuff for an affordable price). Most of them live in very nice neighborhoods that few people on Brownstoner have ever been to. Marine Park, anyone? Madison? It is possible, you just have to get out more.
Didn’t go to private school. Public school all the way for me right through my bachelors, masters and doctoral degrees, BO.
And yes, I OWN a studio.
You RENT a floor thru.
I’m also probably about 110 years younger than you.
And this is ONE of the apartments I own.
The other is a country you’ve never heard of, I’m sure.
and Hell yes I am the product of a Public school, private scool got you a studio on the fringe and public scool got me a floor thru in Brooklyn Heights!
11217 we cant all be big ballers like you pimpin it out in a studio! I bet you got all A’s to put yourself in there. You are livin the dream man, livin the dream
Judging by his inability to grasp the English language and proper grammar, do we think BO went to P.(O).S. elementary school in Imatotalmoronville, NY?
I wonder what percentile they were ranked.
“East New York youre entire lease is void. The renter could stay there for about a year and not pay you one dime if they wanted to. And on top of that they can sue you and see to it that you are fined by NY state. If you try to get them to sign a legal lease how are you going to explain to them why it needs to be done? You are f%*&”
Oh no!!! Uh oh! I’m SOOO sacred!!! Brrrr!! HA! HA!!
Tyburg, where are you living? Maybe you’re paying too much of your income in rent. Move to a cheaper hood, it’s fun.
East New York youre entire lease is void. The renter could stay there for about a year and not pay you one dime if they wanted to. And on top of that they can sue you and see to it that you are fined by NY state. If you try to get them to sign a legal lease how are you going to explain to them why it needs to be done? You are f%*&
No one mentioning the $11K a year in taxes….blows away it’s overpriced brethren by 6-7K a year!!!
Property taxes not deductible if you’re in ATM as well, which many in this category are likely to be. Owch!
Totally agree, at this price, buyer profile not looking to have renters on their heads. And at this price, who’s dropping another $200K to renovate a new reno? Not many.
A great place for a new reno (not my preference, but most new ones blow), on a great great block…but if you assume 4K a month in rent, PLUS 11K a year in taxes, having seen many of it’s peers, you better get much closer to $1.6-$1.7 Mil to make it interesting. I fit the buyer profile a bit lower than that level (w/ renters), oh, but wait….
I forgot the property taxes that will never go down and probably aren’t deductible. Double Owch!!
One comment: “if you buy it 20% down…”
No one is writing mortgages for 20% down over a Mil. 25% to 30% almsot guaranteed.