Open House Picks: Townhouses
Carroll Gardens 361 DeGraw Street Brownstone RE Sunday 1-3 $1,650,000 GMAP P*Shark Bedford Stuyvesant 53 Monroe Street Corcoran Sunday 12-2 $1,150,000 GMAP P*Shark South Slope 212 16th Street Douglas Elliman Sunday 12-1:30 $1,100,000 GMAP P*Shark Crown Heights 271 Brooklyn Avenue Ettelson RE Sunday 1-3 $799,000 GMAP P*Shark
Carroll Gardens
361 DeGraw Street
Brownstone RE
Sunday 1-3
$1,650,000
GMAP P*Shark
Bedford Stuyvesant
53 Monroe Street
Corcoran
Sunday 12-2
$1,150,000
GMAP P*Shark
South Slope
212 16th Street
Douglas Elliman
Sunday 12-1:30
$1,100,000
GMAP P*Shark
Crown Heights
271 Brooklyn Avenue
Ettelson RE
Sunday 1-3
$799,000
GMAP P*Shark
Only way of geting them out (i mean RS i am not sure of RC) is to claim the space for your own use. You would need to prove that you need that space. It will not work for oldery and dissabled.
Or you can buy them out $$$$$$$.
Rent control is tough for owners for several reasons. Not just $. The tenants can make life a nightmare by calling in violations, etc. There’s no getting rid of them. Good for them and all, it’s just terrible for the owner of the building. Don’t ever buy a building that has rent-controlled apts.
1.1 in park slope sounds appealing, especially for what looks like a brick/brownstone structure..even if it needs work, many others are selling for 200-300k more. I can only assume that this price is negotiable, so it can only get better
Okay folks, you proved me wrong! Clearly rent control in a 3 family is rare but possible. Thanks for the info!
NYC REal estate wow how depressing
CG: 2 tenants each pay 650/month and are rent-controlled.
One set is a couple near retirement age (i.e. you can’t kick them out); second one is an elderly blind woman with her son living there; good luck kicking them out in the next 40 years.
Yuck.
Saw the 16th Street a few weeks ago at first OH. Cleanly and decently renovated, but almost devoid of original detail. Very little space, virtually no closet space, and low ceilings on the top floor. The Basement apartment was quite small, as well.
Moreover, it has a looming condo project immediately to right side, which dimishes the appeal substantially.
Would have worked better as a single family, which would have attracted more buyers.
What about the new Warren Lewis townhouse in the Slope listed at $1.1 million. Anybody seen it?
Saw the degraw st house last week. To 12:04’s question “established tentants” = rent controlled tenants, IIRC paying under $1500 combined for the two units.
Which raised a question for me, how much should rent controlled tenants affect a property’s price. The rental income doesn’t pay much of the mortgage after utilities, maintenance and headache are considered. There is the indeterminate benefit that you may get the units back, eventually. I assume the tenants are elderly, but I wouldn’t want to feel a vulture. There is also the possibility that a relative might try to enforce some continued right to the place.
It seems like the house should be worth (1)the value of the owner’s duplex, plus (2) the value of the current rent, plus (3) the value of potential future rights to the rest of the house. I can figure out the first two. I’m at a total loss for the third. Can’t wait to see what the market says.
“no such thing as rent control in a 3 family” I bought a 3 family in CG 13 years ago with a rent control tenant paying $57 per month. Even 2 families had rent control in the 1950s. If a person moved in to a 3 family before 1960 something, rc applies. My tenant is still with me and I know of many others. After the rc tenant dies or leaves, it becomes a market rate apt.