House of the Day: 329 Adelphi Street Reduced
The beautiful but crumbling wood frame house at 329 Adelphi Street has a new broker and a new price tag. The shingled corner house started out asking $950,000 last May. According to a few people we know who’ve now been inside, though, it needs so much work that that price was unrealistic. The new asking…
The beautiful but crumbling wood frame house at 329 Adelphi Street has a new broker and a new price tag. The shingled corner house started out asking $950,000 last May. According to a few people we know who’ve now been inside, though, it needs so much work that that price was unrealistic. The new asking price of $795,000 is still more than the pricing widget called for last go-round, which normally wouldn’t be an issue given the widget’s track record of underpricing by 15 percent or so. In this case, though, we suspect the masses may have some wisdom: An architect we know said you’re looking at a million bucks of work here.
329 Adelphi Street [Ahrlty.com] GMAP P*Shark
House of the Day: 329 Adelphi Street [Brownstoner]
Then you’d get NJ quality.
Buying CEU, VISN
I would hire NJ contractors..
I would hire NJ contractors..
Is it me or is everyone crazy.. 400K to remodel a small house.. I think this could be done for about 250k.. And the place would look really nice..
Sorry archigoddess… I won’t spank you, unless you want me to.
But you don’t think it’s pretty close to insane to say, “Look at this medium wooden house that needs work… Oh, it’ll be a million dollars to fix that up.” That’s crazy. Simple as that. And you’re right. One shouldn’t spank crazy people, it’s not their fault.
I’ve been through this house too.
Whether or not you do the bare minimum or do it up really nice, it’ll run between $300-500,000. Structutally it seems quite sound. In fact, the framing is oak 4X4s infilled with brick, yes brick. The whole place needs to be gutted. there is absolutely nothing even salvageable except one fireplace mantle and the stair railing. The floors are warped and buckling due to water damage.
It needs all new windows but, if you wanted to wait, the shingles are not bad and could be repainted. It needs a new roof and rafter replacement.
I think it would sell for $1.0-1.2MM depending on how nice you made it.
Oddly though, you might be able to finance some of the purchase price if you just installed a makeshift kitchen but I wouldn’t bet on it.
I like the place a lot but a gut renovation of this scale despite your employing an architect and a GC is still almost a full time job.
The lot will make a nice yard but there’s no room for a garage and we won’t be bringing up curb cuts anymore anyway.
Sounds nice, and I truly admire the ethic. But I would still like to know who would do it in the City for 350k. Unless of course you are speaking about an extremely hands on and frugal buyer who can do most of the work him/herself.
I would buy someone a year of free drinks for this information. I’d even sit on a bar stool next to you and talk about whatEVER you’d like at least once a week if you were feeling lonely, for this information. It would have to be a contractor with commitment and the experience to do it well though. Not show-stopping, just well. Safe. Ranch work at it’s best…
Cheap gut reno = $350 sq/ft
High end gut reno = $650+ sq/ft
Brooklyn prices. Whatever that works out to.
Not sure if this is a complete gut, but it sure looks like it.
Minard, what a glorious change in tone. Not one of us was suggesting doing anything but the bare minimum to this house to make it habitable or as you say “perfectly nice.” And, I’ll say again, until someone actually unbuttons this thing, it’s all speculation. You have a lovely evening, as well.