House of the Day: 350 Atlantic Avenue
It’s not exactly our style, but someone clearly put a lot of effort into renovating the five-story brick house at 350 Atlantic Avenue in Boerum Hill a few years ago. The 5,500-square-foot property is being marketed for its flexibility: the building can be anywhere from a single-family to a three-family and the owner has the…
It’s not exactly our style, but someone clearly put a lot of effort into renovating the five-story brick house at 350 Atlantic Avenue in Boerum Hill a few years ago. The 5,500-square-foot property is being marketed for its flexibility: the building can be anywhere from a single-family to a three-family and the owner has the option of renting out the ground-floor for retail. Has anyone crunched the numbers on whether this place works as an investment property at its asking price of $2,900,000 or is its only hope a flush owner occupant?
350 Atlantic Avenue [Brown Harris Stevens] GMAP P*Shark
Is there really only a single interior photo, or am I missing something?
Forgot to add:
“And it’s typical everywhere.”
This is nothing short of hysterical. Thanks for ending my day with a laugh.
If you that real estate metrics are typical all over, then I bet you probably can’t wait every time that worthless Case-Shiller report.
All real estate is local and locale. If you don’t understand that, you understand nothing.
90s were six times rent rolls in Boerum Hill. In the last 15 years it peaked around 18-20.
Not sure what you think I should get. You’re an irrational lunatic? Picked up on that right away.
But always happy to share info and glean what I can.
“BHO –
I realize you are stuck in 1986 with your 10 times rent rolls, but 14-16 is more typical along this stretch.”
Try the 1990’s, Boerumhill. And it’s typical everywhere.
(10-16)/16 = -37.5%, the amount we have further to fall to half off peak as we are already at about -20%.
Get it?
***Bid half off peak comps***
Wasn’t this asking $3.5M last year?
Also, someone above commented about Atlantic Center traffic being good for business. If you mean foot traffic, I don’t think that this is close enough to really draw on any of the foot traffic, but it wouldn’t have to. There is plenty of foot traffic on this block of Atlantic for high end retail (even if it seems that the Metaphor gallery is out of business).
Wasn’t this asking $3.5M last year?
Also, someone above commented about Atlantic Center traffic being good for business. If you mean foot traffic, I don’t think that this is close enough to really draw on any of the foot traffic, but it wouldn’t have to. There is plenty of foot traffic on this block of Atlantic for high end retail (even if it seems that the Metaphor gallery is out of business).
Pigeon, the setup appears to be two apartments (both 2 BR; one 2 BA) over a duplex over the retail space. The duplex has no bedroom?? The retail space seems to be cut up by columns and partially walled off, which might explain why it has sat mysteriously vacant for so long.
Very curious what the history of this space is. High-end but strange reno.
I’m Team Bear, however. Things are moving. The big money is looking for homes. Some DINK couple who likes to entertain will snatch it up. The 2 BR apartments will bring in some income or maybe host out-of-town guests.
i like it. its huge, beautiful floors, beautiful facade. I love the dark wood. I think the yard is very pretty too, you could get some vines going to cover that huge cement abuttment, and it would feel like you’re on the bottom of a lush ravine. Its also in a killer neighborhood, even though, yeah, being ON Atlantic would blow, but would be necessary to maximize that commercial income. I don’t know, if i had money, i’d invest, but maybe my lack of sense in that dept is the reason i have no money
The ad would be better if it had more photos of the interior and the “tastefully renovated” spaces instead of all the “gracious, sun splashed…superb north and south light…Viking oven, Sub-Zero refrigeration and a Bosch dishwasher”, blah, blah, blah description. Will some real photos be coming or is this just a lazy broker with the dream that this will sell instantly without any work?