House of the Day: 14A Monroe Street
A couple of years ago we wrote about 14A Monroe Street, which on its surface looked like the victim of mortgage fraud: After trading for $325,000 and having $570,000 of financing sucked out of it, the small Bed Stuy brownstone was flipped two years later for $950,000 to a guy who almost immediately defaulted. In…
A couple of years ago we wrote about 14A Monroe Street, which on its surface looked like the victim of mortgage fraud: After trading for $325,000 and having $570,000 of financing sucked out of it, the small Bed Stuy brownstone was flipped two years later for $950,000 to a guy who almost immediately defaulted. In 2009, someone bought it out of foreclosure for $650,000 and proceeded to do a top-to-bottom renovation. And while we hope the new owner can earn a couple of bucks for his contribution to improving the city’s housing stock, the new asking price of $1,185,000 seems kind of ludicrous. Only time will tell.
14A Monroe Street [Corcoran] GMAP P*Shark
Foreclosure of the Week: 14A Monroe Street [Brownstoner]
A little update for you naysayers: you were completely right. After wasting 12 Sundays, the agents were replaced. This little shiny house is now relisted for $925,000.
anyone know how to get a fridge that size into the garden floor? (this is a serious question…)
wow, the brokers and the property were severely slapped on this forum! well done, since the slapping was well deserved! i hope some people that go to the open hose (if anyone) get to see this discussion.
“If these Corcoran agents wants to waste their next 12 Sundays, then let them be.”
Well-put, Crownlfc… and very funny.
“Fringes of Clinton Hill”? “Fringes”? of all the nouns to use – a marketing no no I would’ve thought.
If these Corcoran agents wants to waste their next 12 Sundays, then let them be.
Borehum Hill, on Acris i’m seeing the deed at $287 and the mortgage at $185, along with an assignment of R&L. I see $650 was from the Bank to the Referee, and appears to be around the last first mortgage amount.
P-shark always has lots of misinformation, invisible.
http://www.nyc.gov/html/dof/html/property/property_val_sales.shtml gives you the real deal, which was $650K.
I see what you are referring to on P-s, but given that Credit Suisse is on one side of the deed transaction ($650K) and then on the flip side of a second deed transaction ($287K), I suspect the latter was to record the mortgage.
does anyone else besides me see the current buyer getting the place for $287K instead of what Mr B says is $650K? I see the foreclosure going in at $650 but not the current purchase.
Either way, clearly overpriced but definitely room to come wayyy down.
Between Corcoran creating its own neighborhood boundaries and over pricing listings how can the market recover? Not that it makes a tremendous difference, but every bit helps. These people work against what we need to be doing in this market, which is pricing property correctly and not blowing smoke up peoples asses. DO YOUR HOMEWORK AND STOP TAKING LISTINGS JUST TO TAKE THEM! Inexperienced brokers give a bad name to every other broker. If you couldn’t tell I am a broker, working in the same area, talking to the same people, the only difference is I know an over priced listing is a headache and a waste of time! This place needs a 50% price cut at minimum.