House of the Day: 215 Gates Avenue
In response to last Thursday’s post about the under-the-radar house at 182 Washington Avenue, the folks at the site Historic Brooklyn brought today’s HOTD at 215 Gates Avenue to our attention. After changing hands for $900,000 last year, the house came on the market several months ago for $1 million. After failing to get any…
In response to last Thursday’s post about the under-the-radar house at 182 Washington Avenue, the folks at the site Historic Brooklyn brought today’s HOTD at 215 Gates Avenue to our attention. After changing hands for $900,000 last year, the house came on the market several months ago for $1 million. After failing to get any love, the price was cut officially to $750,000, though HB reports that a bid as low as $600,000 could get the deal done. Here’s what HB had to say about it:
The home is normal size 20×40 on a lot 20×70. It’s a four story home, pretty spacious inside, boasting some original details. The pocket doors are in tact but the glass panes need replacing. The parlor doors are there looking magnificent. The mantles need some paint removal but look ok. On the 4th floor, the back room has had the entire fireplace removed. The hole in the wall remains.
Does this tickle anyone’s fancy?
215 Gates Avenue [Historic Brooklyn] GMAP P*Shark
As an update, this house sold for $440k June 19, 2009.
I left out the contact information for the broker that has this property. The people on the sign are really not involved at all. Contact Jon Buck at Fillmore RE ph: 646.233.3427
Website:http://www.SlopeBrownstone.com/
I just called the number on the sign and the agent who answered the phone said the property is now going for 950,000 not $750,000 or $600,000. Are they serious? That place needs a total gut renovation. Guess they really don’t want to get it sold!!
July 23, 2007 11:40 p.m.
I purchased a two story brownstown fixer upper 7 years ago in proximity to the house on Gates ave. Purchase for low 200’s now my home is worth low 800 easy, and will continue to increase in value. This property is in an area thats up and coming; near the famous “broken Ange”, 5 minutes from prime Clinton Hill’ 15 from Prime Fort Green and 20 from Downtown Brooklyn BAM Cultural district. Outskirt of Bedford Stuyvesant is what is happening,
Bed Stuy is an “up-and-coming” neighborhood–soon to be gentrified. I’m a standup comedienne in NYC. I can’t tell you how many stand up comedy shows I attend, and the resident comics from Bed Stuy who say they see the change daily. Get in while the gettin’ in is good. This is great buy as fixer-upper, if you can get it for a deep discount.
Looks as if one could spend $200K inside pretty easily. It’s a great project for someone. You just have be willing to bet it’ll be worth that million down the road. I hate removing fireplaces, too!
Please, get real.
who wants a decrepit old pit of a dump
in the outskirts of Beford Stuyvesant?
Have the cocaine-snorting classes lost so many brain cells that they are actually wondering why this ugly wreck is not selling for a million dollars?
Maybe it’s haunted…
The owner took out 100% financing with two loans. The first loan for $721,600 is an ARM with an initial rate of 8.35%. This rate is to reset in April 08 to Libor + 6.42%. I believe the Libor index is currently about 5.4%. Using todays numbers his new rate will be just under 12%. The second mortgage looks fixed.
I think we can figure out why he’s selling.