House of the Day: 1418 Pacific Street
Will somebody please put this listing out of its misery and buy it! The brownstone at 1418 Pacific Street in Crown Heights has been on the market for more than three years by our calculations. It was an Open House Pick in April 2007 when it was asking $999,999. The price now is down to…
Will somebody please put this listing out of its misery and buy it! The brownstone at 1418 Pacific Street in Crown Heights has been on the market for more than three years by our calculations. It was an Open House Pick in April 2007 when it was asking $999,999. The price now is down to $700,000, which has to be getting close to the market-clearing number given the amount of original architectural detail and the proximity to the Brooklyn Children’s Museum. What’s it gonna take?
1418 Pacific Street [Brooklyn Properties] GMAP P*Shark
quote:
Rob, considering you have never been to Crown Heights, I hardly see how you can judge.
um i have been there. and i know plenty of people who rented there only to break their leases. it’s not a very gay friendly place. and that is a known fact. in fact i personally know someone who was brutally gay bashed in crown heights, and didnt the same thing happen to one of 11217’s gay friends!?
*rob*
speaking of crap in a house, is it legal obligation for seller of a house to clear out all the stuff in the cellar too? I know the “broom swept” covers the rest of the house but wasn’t sure about the cellars where folks often encounter a packed cellar (often mostly junk vs. goodies like old details that could be added back into house) in these old houses
You people are killing me with the “projects” comments. The likelyhood of anyone living in this house walking near those projects are slim to none, unless they are themselves involved in criminal activity (this includes buying drugs) or you have relatives living there.
The range in that house? I want.
If it were less than 500K, I would move on this. I don’t have to tear out some other persons awful kitchen and bathroom renovations and the backyard is mostly cement free.
“The Albany houses are not anywhere near this house”
1 block over and 2 blocks down is VERY near for someone with $700 to spend, and a material decision factor.
right, unrenovated houses in Brooklyn do not typically have c of o’s, that’s not a problem. I had no idea people were so concerned about c of o’s until I started reading this blog.
The block wasn’t an issue. The house has been used and abused. I visited it maybe a year and a half ago? It was already 700K, so whenever that happened. Piles of rotten crap, old containers of take-away food, thin mattresses on the floor that I wouldn’t touch with a 10-foot pole, and all that come with it.
The bones are great, but it needs a dumpster just to come up with a plan. Assume it needs everything, and you won’t be far off. Nothing visible seemed to have received any love or care in the last 50 years.
I don’t think it could be financed, there is no working kitchen, and I was afraid to touch anything without gloves. Anyway, 500K is the top. The funny thing is that they might have gotten $700K+ 3 years ago, when anything could be financed. It goes to show, sometimes an overreach at the beginning ends up costing plenty.
PropertyShark has tax class 2 family; link to DOB shows no C of O (typical for a house this age), so I don’t really see a problem there. I agree, smells and questionable alterations can be corrected. Maybe the problem is that Brooklyn Properties doesn’t co-broke (I have buyers who’ve passed on this for that reason).
What are the C of O problems??? Like most houses built before 1938, it doesn’t have one. That doesn’t mean it can’t have a rental unit. Although, to have one grandfathered in, typically the door must be changed to a 3′ single door instead of the narrower double doors, at least back in the day.