House of the Day: 87 Macon Street
A housekeeper might be in tall order, but the old bones of this house at 87 Macon Street in Bed Stuy are pretty sweet if you can look past the clutter. The painted brownstone is divided up into a double-duplex configuration and has a two-story extension off the rear. It was originally listed back in…
A housekeeper might be in tall order, but the old bones of this house at 87 Macon Street in Bed Stuy are pretty sweet if you can look past the clutter. The painted brownstone is divided up into a double-duplex configuration and has a two-story extension off the rear. It was originally listed back in November at $849,000 but recently was reduced to $750,000. Getting warm or a ways to go?
87 Macon Street [Fillmore] GMAP P*Shark
Benson, you are right. Absolutely. The engineering issues are central to whether or not you will even approach this; no way do I discount that. And wine lover is right about cash flow. Without going through all of the engineering issues or really even seeing the place I can’t say whether this is a real deal or not. One might be able to camp out in one of the apartments. And 300,000 is a conservative estimate, I think, that is why getting this place way down in price is important. But I WILL tell you this. People ARE put off by that kind of junk. That place does have some pretty nice stuff in it and could be really wonderful if it isn’t on the verge of falling down AND you get the right price.
this is a $300K conservative fix. which is fine, but not at that price by a long shot. also, probably take a year + to renovate, and you probably can’t live there, so take on rental/storage money for a year. This should be under $500k, probably like $450K. In fact, after the work, not sure if you could re-sell it at the total price.
i’m sure someone will say that the renovation costs less, but this is a total gut job with probably some real time wasters thrown in to boot.
Donatella and all;
Give folks some credit. I don’t think anyone is scared off by alot of clutter. When you’re talking about a sagging extension (see photo), an electrical system that needs to be overhauled (note the listing states that they still have a fuse system), and ditto for the kitchen and bathroom, you are talking about SERIOUS money to bring this building up-to-date. Who knows what other skeletons are lurking in such a house? Hence, my reaction regarding their asking price.
If this were a developer asking such an outrageous price, the cries of greed would be spewing forth.
MM I just read your post — you said the same thing! Oh, I also meant to say, I love Fillmore. I bought my place through Fillmore — maybe they are better for buyers than sellers but they get these kind of places that Corcoran stays away from. I got a nice deal from them on a similiar kind of situation — daunting amount of junk, Adams Family ambiance, now transformed and pretty nice, if I do say so myself….
This is the kind of place that gets house junkies fired up.
The junk is actually exciting — it scares off the faint of heart and leaves us to a diamond in the rough. The structural stuff is worrisome – you need to get a structural engineer in there first. This house WILL take over your life but there is so much in there, wow.
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This is one of the prime blocks of the Bedford part of Bed Stuy. If the LPC goes ahead with an expanded Bedford Corners Historic District, this will be landmarked in the near future.
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Posted by: Montrose Morris at February 10, 2010 3:02 PM
Montrose –
I know precious little about Bed-Stuy. You seem like a very knowledgeable source, so perhaps you could educate me a little…
What is Bedford Corners? How far is this house from Stuyvesant Heights? Which parts of Bed-Stuy are the most interesting architecually?
General questions…which parts of Bed-stuy would be considered (in your opinion) the most desirable? Which sections would be the least desirable?
Thanks in advance
DIBS, YOU should buy ME a beer! You’re Mr. Moneybags!
We don’t invite people over because after having been there for 5 years, our apartment still isn’t finished. The tenants never seem to have a problem getting their Manhattan buddies to come over though.
Thanks, Maly.
I’m sold- one look at the original stove and it had me. I won’t even speculate on price since i can’t buy it anyway- but if I had the money i would be waving it at the owner -while shoving Amzi and MM out of my way.