House of the Day: 124 Dekalb Avenue
It’s been two and a half years since 40 Acres and Mule moved out of 124 Dekalb Avenue, but Upper East Sider Spike Lee still hasn’t been able to sell the former firehouse. (It does look like the deed was transferred to another company back in 2009 though.) In March of 2008, the Do The…
It’s been two and a half years since 40 Acres and Mule moved out of 124 Dekalb Avenue, but Upper East Sider Spike Lee still hasn’t been able to sell the former firehouse. (It does look like the deed was transferred to another company back in 2009 though.) In March of 2008, the Do The Right Thing director put the 6,000-square-foot building on the market for $6,000,000 but there were no takers. Since then the price has changed a couple of times, as has the brokerage firm repping the property. Last month, Halstead took over the honors with an asking price of $3,900,000. The place looks to be in okay shape but seems a little bland on the inside. Think this is more of a condo conversion or a single-family play?
124 Dekalb Avenue [Halstead] GMAP P*Shark
Spike Lee Does not own this building, and is not trying to sell it. Current owner bought the building at auction from the city in 1981, Lee purchased in in 1990 with a seller note ($1.7), but in 1998 it was deeded back to original seller because Lee couldn’t complete terms of the note. Too bad, because Lee could have a couple mil gain via no money down deal. Instead he got the boot.
Despite it looking like a related party transaction, it wasn’t. Just a tenant who purchased building from LL and couldn’t get it done. After that, then the original owner renovated and added a kitchen, listed it for $6 mil, now 3.9 and that’s where we are today.
Too bad it’s not in Carroll Gardens.