House of the Day: 224 Washington Avenue
Although there are no interior photos provided on the Two Trees website, we’re inclined to believe the verbiage that the brownstone at 224 Washington Avenue in Clinton Hill is indeed chock-full of historic details. The house was owned for decades by the same person and there haven’t been any renovations filed with DOB ever. As…
Although there are no interior photos provided on the Two Trees website, we’re inclined to believe the verbiage that the brownstone at 224 Washington Avenue in Clinton Hill is indeed chock-full of historic details. The house was owned for decades by the same person and there haven’t been any renovations filed with DOB ever. As far as we can tell, the owner died last year. Based on this article from the Daily News, someone recently bought the house from the estate and, in addition to booting the long-time tenant, is trying to flip it. Anyway, it’s a pretty safe bet that this’ll need some new kitchens and bathrooms in addition to some general tuning up, so you’re probably talking at least $200,000 in addition to the asking price of $1,795,000. If the details are intact, though, $2 million all-in for a killer house in this location ain’t crazy. Or is it?
224 Washington Avenue [Two Trees] GMAP P*Shark
Three months later and Status = Available.
“How will Atlantic Yards affect the pricing of surrounding brownstones?”
The logic underlying that argument is not that people will flock to the AY monstrosities, but that the presence of AY will depress values of the surrounding areas. That said, this house seems to be sufficiently far away for that not to be factor. Still, $2,000,000 for that location? Not feeling it.
1:43 – The Daily News article said the tenant did not even have a lease since the owner was her friend. So, no buyout. No condo in Florida.
What a strange list. I’ve tuned in here three times recently, regarding buildings in Clinton Hill, and this is the weirdest discussion of them all. I hardly know where to start.
First, regarding the house, I can tell you that I’m a neighbor and have been in a few times. There are lovely original details (pocket doors, moldings, excellent original floors, etc.) but it will need a major upgrade.
As for the schools issue – which is the neighborhood in NYC with the excellent public schools?
As for the price – we bought about 50 feet from this house right before 9/11 and were concerned that we’d bought at a peak. Remember all the talk of bubbles and recessions back then? It was going to be the end of irony even. I think this mortgage problem is less severe, certainly not the ‘end of home financing as we know it’ as one paranoid observer noted above. Relax.
How will Atlantic Yards affect the pricing of surrounding brownstones? will all the people seeking out historic brownstones suddenly opt for Geary-designed sheetrock condos overlooking the busiest intersection on the planet? Anyone’s guess.
I went to private high school in New Jersey and was miserable. Much preferred public (middle) school. Many more interesting characters who I remember fondly. (Have blocked out names of almost everyone I went to high school with.) Hoping to send my daughter to PS 269 in Boerum Hill.
I went to private high school in New Jersey and was miserable. Much preferred public (middle) school. Many more interesting characters who I remember fondly. (Have blocked out names of almost everyone I went to high school with.) Hoping to send my daughter to PS 269 in Boerum Hill.
I went to private high school in New Jersey and was miserable. Much preferred public (middle) school. Many more interesting characters who I remember fondly. (Have blocked out names of almost everyone I went to high school with.) Hoping to send my daughter to PS 269 in Boerum Hill.
I remember that I bought my first place in Brooklyn 14 years ago for $390,000. It had been $700,000 at the top of the market in the late 80’s and slipped to the price that I bought it at in the early 90’s and is now at $2.5. My neighbors upstairs were horrified because they had paid $385,000 for coops half the size. Those apartments are now worth over a million.
Moral of the story. Even if prices drop to half of the highs, todays prices are not historical highs.
I am one of the people who thinks that prices are going down, down, down. I put up a “has anyone been watching the market” post in the forum weeks ago and got lambasted. It seems now that more people are starting to see the light or darknessa s the case may be.
10:49, the fact that it’s two family might not guarantee that the tenant wasn’t rent control in the first place. Just 2 weeks ago or so we we’re all debating about a guy who has a rent controlled duplex in a two family up for sale on Baltic I think it was? Check the end of July archives…