House of the Day: 157 West 9th Street
This three-story brick house at 157 West 9th Street might be a little too close to the BQE for some; on the other hand, it’s only a block from Buttermilk Channel and three from Frankie’s! The stoopless three-family brick has been on the market for at least a year, starting out at $1,550,000, which was…
This three-story brick house at 157 West 9th Street might be a little too close to the BQE for some; on the other hand, it’s only a block from Buttermilk Channel and three from Frankie’s! The stoopless three-family brick has been on the market for at least a year, starting out at $1,550,000, which was clearly way too big an ask. Depending on what brokerage site you look at, you can now pick it up for $1,100,000, a price that’s probably still too high. It’s hard to see how this tops a million bucks, isn’t it?
157 West 9th Street [Vita Real Estate] GMAP P*Shark
this would be a great place if you love the crowd that transfers to/from the bus and G train at Smith / 9th. show off your tats while figuring out how to get sent back to Rikers. Also, the Sunoco isn’t but a half a block away, if you must get a job. whats not to like?
Gee, BHO. My house cost less than 10 x rent. Gasp. What could it all mean?
800,000 x 0.625 (-37.5% decline) = $500K after say five years. (150K underwater plus 150K down plus another 100K misc costs)/60 mos = $6,667/mo to rent this house!?
Low and behold! 4,500 x 10 x 12 = $540,000.
Cheaper to rent. It’s time to buy when buying is cheaper.
***Bid half off peak comps***
Someone will pay close to ask and hold it until automobiles become extinct and then make a killing!
I love the Romanesque-Revival cornice.
Yeah, tough sell . . .
Here’s one way it works:
Since it’s zoned for PS58 – maybe you buy it for investment units, but keep your address there so you can send your kids to a good elementary school.
I’ve seen BHO do the numbers on these things before. But say $1500 a floor, times 3 = $4500/mo income – taxes/util = $3800/mo = $650,000 mortgage + $150,000 down = $800,000 max sale price.
Yeah – this block is ridiculous. I was trapped in my car one day, probably directly in front of this house, for no less than 45 mins. And the worst part was that I just wasn’t paying attention and I was supposed to have turned right on Smith Street…. 15 min errand became above 1-1/2 hrs.
This place is Ground Zero when it was still smoldering. Every car service in S Brooklyn uses 9th for access to BQE or Battery Tunnel. During rush hour honking cars backed up for two blocks.
When Atlantic Yards traffic starts bottle necking expect the overflow to search out new ways into the city. This will be one.