Open House Picks
Cobble Hill 399 Clinton Street Brown Harris Stevens Sunday 1-2:30 $2,989,000 GMAP P*Shark Park Slope 583 7th Street Warren Lewis Sunday 2:30-4:30 $2,150,000 GMAP P*Shark Boerum Hill 163 Bond Street Corcoran Sunday 12-1:30 $1,350,000 GMAP P*Shark Clinton Hill 8 Lefferts Place Douglas Elliman Sunday 12-2 $1,270,000 GMAP P*Shark
Cobble Hill
399 Clinton Street
Brown Harris Stevens
Sunday 1-2:30
$2,989,000
GMAP P*Shark
Park Slope
583 7th Street
Warren Lewis
Sunday 2:30-4:30
$2,150,000
GMAP P*Shark
Boerum Hill
163 Bond Street
Corcoran
Sunday 12-1:30
$1,350,000
GMAP P*Shark
Clinton Hill
8 Lefferts Place
Douglas Elliman
Sunday 12-2
$1,270,000
GMAP P*Shark
Pete, I disagree with you. I’ve seen houses under $2 million that do NOT require gut renovations. It boggles my mind that, these days, people seem to think they have to gut a house after they’ve just spent $2 or $3 million on it. Witness the house on Amity listed at $4 million, sold for $2 million, and now undergoing a gut renovation. Rubbish! Total rubbish!
There are plenty of houses in move-in, live-in condition, but they just may not be up to the pristine, perfect standards of certain people on this site, most of whom can’t afford these perfect houses they so covet. If I had $5 million, I’d live in a show place on Grace Court, but I don’t. So I may just have to “settle” for something in move-in condition for a measly $1.6 – $2 million. This was NOT the case 10-15 years ago. I bought a beautiful house, in a great location, with tons of original detail, but it still needed work, which I did over a 10-year-period. Gut renovations were NOT the norm back then.
Pete,
What are the repercussions of being class 2a?
fwiw you avoid the mansion tax (1% on total consideration if over $1mil) on 4 fams but the mortgage recording tax rate is higher than 1-3 fams (2.8% vs. 1.925%)
“Incidentally — I still haven’t been able to reactivate my gmail account… so effing annoying”
Incidentally — ty still hasn’t sent me an alternate email account (so no way to alert him to an off the OT Sycamore gathering) . . . so effing annoying”
streeteasy shows 9 in contract and 8 active listings.
Can’t really sell/have closings until have temp CofO .
4 family is a class 2a
By the way, I find this place from my neighborhood very interesting. They have been trying to sell these units for over a year, and they have NOTHING sold.
http://streeteasy.com/nyc/building/vista-condominium
There are a couple claims of “in contract,” but I’m wondering if that’s actually true.
They have an open house every weekend, probably to show a model unit. They obviously quit before the punchlist phase because the windows are dirty (i.e., covered with construction dust on the inside) and it seems that they haven’t finished all of the visible units…. probably ran out of money. Waiting for a little cash from *at least* one sale. But hasn’t happened.
Building seems overpriced, but pretty decent. And in a pretty solid location. Interesting. Maybe no on is buying because they don’t want to be ass raped. That’s probably it. I think they mention a free ass raping with every purchase (a 40″ TV is the other option).
For tax purposes, 4-family is not the same as 1-family, 2-family, or 3-family.
CLASS STRUCTURE
New York City divides property into four “classes” for assessment purposes:
Class 1 one- to three-family structures, vacant land zoned for residential use, and small co-op and condominium apartment buildings
Class 2 residential rentals, co-ops, and condos
Class 3 utilities
Class 4 all commercial and manufacturing properties in the city, including the major office buildings in Manhattan and Brooklyn
Carroll Gardens/Cobble Hill – makes little difference. You still have to come up with real money and dilusional thinking going to buy something for under $2m that is larger than a condo or doesn’t need total renovation.