A Red Hook Townhouse for $270,000? Yessiree Bob
It’s hardly a Pierrepont Street mansion, but a house in Red Hook was recently snapped up in foreclosure for the cool price of $270,000, less than half of what the bank was into it for. According to ACRIS, the 2,100-square-foot vinyl sided property went into contract on November 16 and closed on January 29. The…
It’s hardly a Pierrepont Street mansion, but a house in Red Hook was recently snapped up in foreclosure for the cool price of $270,000, less than half of what the bank was into it for. According to ACRIS, the 2,100-square-foot vinyl sided property went into contract on November 16 and closed on January 29. The lien on the house had been $598,021, according to Property Shark. How big a deal this was is unclear though: The place looks like it could use some serious work and the house next door looks like it’s about to fall down. Was this a good buy or not? GMAP
walked by this property a few minutes ago.
The front yard is full of lath strips, 5 feet high.
Apparently a gut reno is in progress.
Recently moved from Bed Stuy to Red Hook.
Mainly because my girlfriend likes to buy cheese that doesn’t begin with “Mac n'”
…and you can’t get that in Bed Stuy without making a loop on the Seventh Circle of Hell (AKA the B52 bus.)
Well Credit is the only thing the government has left. But trust me things will get really interesting when “money printing” Ben Bernanke picks up interest rates. You will see people who could not refinance abandone ship so fast it will be nice to watch as a tire kicker but sad to see as an American.Greed made this country and greed is going to destroy it.
If the government does eventually move to wind-down the bubble, it’s more likely going to be through inflation.
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There may eventually be a dollar depreciation because of all of the debt we have as a country. But, other than that, there is probably no way that they can inflate their way out of this bubble considering that people have to actually have jobs to demand higher wages. You’re giving the gov’t WAAAAAAY to much credit here.
besides Sonny’s and Fairway:
Jalopy, Ice House, Fort Defiance, Baked, the pool, Dry Dock, Il Barone, Kevin’s, HomeMade, the Red Hook farm, Hope and Anchor, the Good Fork, etc. All a part of the RH panorama. All excellent establishments. The longer you live here the more there is to discover. For those who say they couldn’t be paid to live in RH, who needs you anyway? Living in RH is about being part of a community (which yes, includes the public housing projects).
I live in the neighborhood, and work in real estate. We’re selling a house on the corner of Richards and Wolcott – the Lucky Gallery building. Directly across the street from the “spinning window” deli. It’s $700,000. I love the building, the location, everything, yet I spend a lot of time talking tire-kickers out of coming to view it. Many people think they want to live in Red Hook because they shop at Fairway and went to hear bluegrass at Sunny’s once. We discuss openly the limited public transportation, the generally humble housing stock, the fact that most of the buildings in the area have done battle with rot, or termites, or (more likely) both. Still they come.
I understand why – Red Hook is unlike any other neighborhood in New York. Some people actually want to live here. Some just think they do. And still others can’t understand why anyone ever would (see above). That’s just fine by me.
Ms. Hook,
Sorry Nancy Drew, but you’re wrong.
Peace out.
The Mare: I guess my hunch is correct, then. You were once invited to a party on Dikeman and spent the whole time standing alone in the kitchen. Or you went into Bait and Tackle and got their bullshit. I’m not going to argue with people who talk about Red Hook being unsafe, “fringe”, or complain about the projects, because they clearly live in a different city from me. I have no problem with the projects, the very pleasant men who work in the “Spinning Window” store (seriously?), or the shape of my panties. I don’t want to live in Dumbo, or anywhere else. I don’t want Red Hook to change, and I do not live amongst these white folks you are so steamed about, nor do I let them bother me. The words “bitter” and “renter” are leaping ineluctably to mind right now.
Here’s one of the reasons Red Hook gets no love: Projects are right across the street. There is an all night “Spinning Window” store on the corner, which attracts about the most obvious drug dealing in Red Hook. There are at least four empty lots on this block accumulating trash. And there are at least two boarded up and abandoned buildings on the block – including the one next door.
So, yeah, it might be a good deal if you want to be a slum lord. Or if you think the projects are going to be razed in your lifetime. Or if Bruce Ratner is looking for a truly blighted block when Atlantic Yards is finally abandoned.
But as far as living there? No.