plg-update-042413So, the listing is up for the Prospect Lefferts Gardens two-family we told you about last week. That was really fast. But our flipper did not just turn around and put the property back on the market without doing some work first. He cleaned it out, exposed the floors, did some plaster work, painted, sandblasted the limestone stairs, cleaned out the back yard, inspected the mechanicals and brought them to working order — including the gas lamp outside — and put on a new roof. Here is what he had to say about his first project:

The thinking is that the property will speak for itself and a buyer would want to apply their taste to the kitchens and bathrooms (although I personally would do simple subway tile, etc.). A prospective buyer I spoke to said that they would want to avoid paying for a second place while they renovate so I’m making the garden floor immediately livable.

The first open house is this Sunday, April 28. How do you like the new look? And do you think they will get their price of  $995,000?


What's Your Take? Leave a Comment

  1. 200 Sterling closed a couple months ago for $800, and I think that needed a fair amount of work, so a price in the $800s doesn’t seem crazy. I think Sterling II is a better block than Lincoln III but the basement level here is more usable than on Sterling where you have the English basement.. makes a better 2-family layout. I don’t know about “at least” $250k worth of work. I’m sure you could spend that on a top notch renovation but you could also make this place pretty livable on half of that budget.

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