House of the Day: 489 6th Avenue
This four-story house at 489 6th Avenue in Park Slope has clearly seen better days and is gonna need some serious TLC from whomever ends up buying it, but it’s also not without its charms. (In fact the interior looks a lot like our place did when it was being used as an SRO. Remember…
This four-story house at 489 6th Avenue in Park Slope has clearly seen better days and is gonna need some serious TLC from whomever ends up buying it, but it’s also not without its charms. (In fact the interior looks a lot like our place did when it was being used as an SRO. Remember that?) Anyway, for someone with the right vision and bank account, this place could really be brought back to life. The asking price of $1,949,000, however, seems a little steep, don’t you think?
489 6th Avenue [Sotheby’s] GMAP P*Shark
Hmmm…so even though it is zoned Tax Class 2A – 4-6 Unit Residential Building, the taxes are only $4913.
Which means annual expenses probably aren’t much more than $30K.
Residential SF 3,510
Retail SF 1,170
I think we have a solution that works.
Skip the condo conversion, work on getting market rate renters in there (‘will be delivered vacant’).
thanks for playing, nexttttttt!
I think vacant and with a commercial space, the price could work for someone. I think condo-ing the apartments sounds like a perfect idea and i love that block of 6th avenue, right by Bar Tano, it’s quieter than 7th Avenue but has excellent foot traffic. I don’t know if 1.9 is the right spot, but certainly over 1.5 for four apartments and a commercial space, especially since the boiler and roof were replaced the two biggest expenses in a building like this.
Someone’s going to need all cash to buy this and to do the reno. And change the CofO. Is it empty? Rent controlled? I can’t access the site.
Top 3 floors at $350psf (gut) would get you $1.25 mil, plus retail space is worth? Hard to say its worth over $400k. I’ll say $1.6 for all. There is only a 15 foot backyard given the short lot. In a world where people could get condo financing in small buildings this would be worth more.
absolutely people are condoing bldgs still. Hard to say whether this was a ‘brownstone’ or townhouse originally.
19.5′ x 60′ is nice size footprint for single floor apts. Lot depth is only 75′.
I still say price depends on whether commercially can still rent out the 1st floor and what rent could get.
Pete,
Are people still converting brownstones into condos?
It would be great if this were given a first-rate reno.
But it does seem far overpriced.
This is not prime Slope.
And it’s not a prime block, either.
Still, it’s a nice location, and a great facade.
Get the smelling salts.