Paddle Time: 404 Stuyvesant to Hit Auction Block
All of Stuyvesant Heights is aflutter over the latest beauty to hit the market - 404 Stuyvesant Avenue. (Check out the full page photo on p. 252 of Bricks and Brownstone.) According to an email we received from a reader, the current owner, who lives on Long Island, inherited the place a few years ago…
All of Stuyvesant Heights is aflutter over the latest beauty to hit the market - 404 Stuyvesant Avenue. (Check out the full page photo on p. 252 of Bricks and Brownstone.) According to an email we received from a reader, the current owner, who lives on Long Island, inherited the place a few years ago from the old lady who’d lived there for years. He’s been collecting the modest rental income for a while but recently decided he wanted to sell. We hear that the guy’s already been offered as high as $1.5 million for the place but thinks he can do better. So who’d he go with? Corcoran? A local broker? No way. He’s going for a balls-to-the-wall no-minimum auction. It’ll be interesting to see if he’s right. In the meantime, he should make sure his auctioneers know the difference between Brooklyn Heights and Stuyvesant Heights!
Limestone Mansion [Absolute Auctions & Realty] GMAP P*Shark
I dont care how beautiful this block or house it, I would not be caught dead in Bed-Sty. That said, if I had enough money for a second home, this house would make a great investment property. As one previous poster said, real estate is all about location.
Response to chill:
I do agree that real estate and location go hand in hand but I want to ask you all this question…. is bedford stuyvesant a developing community and will it be affected positively by ratner and other developments in downtown brooklyn. IT’s only three miles away… ask yourselves, where do the people who are opposed to the project…(due to displacement) where will they go…. a 1 bedroom for 589k on Hanson or amove to bedford stuyvesant ? this is just a question
on the comps, pshark lists 416 stuyvesant as trading at $1.175M, not $1.75M.
The comps posted above is somewhat incorrect. 391 Stuyvesant was sold by Coldwell Banker. It was listed at 975K which was in line with the market at that time. I do not believe it was sold at a discount because of estate issues. I konw because I put in a bid for it. The 1.7 mil house must be a record for a resident in Bed. Stuy. I don’t remember reading anything about the sale but I do know that Corcoran sold a house on that block for 1.17 million. Anyway, the house is beautiful but to buy it at an auction for over 1.5 million is a little crazy. Remember real estate is still about location and while this block in Bedford Stuyvesant is beatuiful two blocks in the wrong direction and the blocks are not so beautiful.
These criticisms are interesting. Sound like brokers who didn’t get the deal. The steal of a lifetime? Sign me up.
So laughable! It’s like hiring a Hyundai car salesman to sell your vintage Rolls Royce! This is insane! Someone is going to walk away with the steal of a lifetime!
It doesn’t look like this house, or most any house, needs $500K-$750K to restore.
AAR is a joke. So is the seller. They are going to screw this one up big time!
“I hope the prospective buyers know the difference between brooklyn Heights and Stuyvesant heights”? Because AAR doesn’t! Brownstoner is simply bringing to light the fact that AAR doesn’t know the difference between Stuyvesant Heights and Brooklyn Heights as their ad states that the property is located in both nabes! Ha!