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
CGar — I don’t know what the big deal is for 399 Clinton Street.
With 30% down, the $6000 tax bill, plus paying for basic utilities and maintenance, they would just have to produce about $4500 a month for EACH unit to make a go of it. The listing says it’s a “4 family with very high income.” So, that’s probably perfectly in line.
funkymonkey,
You could make the rear parlor into a bedroom if you really needed to, but it would cramp the parlor floor and disrupt the layout.
The biggest problem with the Borum Hill house is it’s a few houses from the Gowanus Houses. If it weren’t, the ask would be a few hundred thousand dollars more.
Yes, I just noticed that’s in Carroll Gardens. Makes my point even more. The comps are $2 million at most on 4 families (without even knowing the rent roll). That was my point about the mortgage – it’s not more difficult per se to get the commercial mortgage, it’s just that the appraised value is going to come in so much lower than the asking price (even assuming someone’s willing to pay it).
Also Mr. B neglected to mention that this house was briefly on the market in the winter for $3.19M.
“This Boerum Hill brownstone makes the idea of buying a condo unthinkable”
That was my point in the OT this morning, Pete. This is on my broker’s list for me to see this weekend. Of course, it is on “that” side of Smith Street.
I think there’s confusion regarding 4-family and mortgages.
A broker at Wells Fargo told me 4-family does NOT need a commercial mortagage.
For mortgage purposes, property is considered commercial if it’s a 5-family or more.
For NYC tax purposes, property is considered commercial if it’s a 4-family or more.
That’s my understanding.
i like the boerum street place, but it’s two bedrooms. do you really need a front parlor and a rear parlor, could you make the rear parlor into another bedroom?
399 Clinton is a full 3 blocks into Carroll Gardens. It is NOT Cobble Hill. And $3 million for that 4-family house. RAOTFLMMFAO. Sorry, but typical, typical, typical Brown Harris Stevens wayyyyy overpricing.
Any of these sellers who are successful near ask will be fortunate to “get out”. The next leg down will be far more excruciating than the first. Will you be holding the bag?
***Bid half off peak comps***
4 family is a commerical mortgage.