House of the Day: 1860 Bedford Avenue
When we were house hunting back in 2004, the beautiful but neglected brick house at 1860 Bedford Avenue in Lefferts Manor was on the market for about $550,000 if we recall correctly. (This makes us think the $185,000 sales price from 2004 listed in Property Shark is not correct.) Now it’s back on the market…
When we were house hunting back in 2004, the beautiful but neglected brick house at 1860 Bedford Avenue in Lefferts Manor was on the market for about $550,000 if we recall correctly. (This makes us think the $185,000 sales price from 2004 listed in Property Shark is not correct.) Now it’s back on the market for $900,000. According to a tip we received, the current owner bought it with the intention of moving his medical practice, only to be stymied by zoning restrictions. He’s completed the interior demolition and put in new joists and sub-floors but that’s about it: Tabula rasa for the right owner. As great as this house could be, this price seems like a big stretch given how much money will have to be put into it. Agree?
1860 Bedford Avenue [Fabrikant] GMAP P*Shark
What’s Up with 1860 Bedford Avenue [Brownstoner]
LPC does have to sign off on any interior work that requires a DOB permit, but AFAIK their role is virtually ministerial on those parts of the interior that cannot be seen from outside.
I would think that the LPC would actually be very helpful with the exterior renovations, although doing this work in an historic district is more costly than elsewhere.
LPC has no interest in the single family covenant, but the Lefferts Manor Association does. Since the building also has R2 (single family) zoning the City would also enforce that occupancy.
Hey 9:02 here, thanks Bob. I think you are right this house is unique which part of the reason why there is so much interest. Do you have to abide by LPC rules when doing a complete interior rebuild like in this property? I thought in a case like this the landmark folks would only be interested in the exterior facades and single family covenant..is this true?
11:18 wrote:
“As Bob Marvin noted, there are only about four of these neo-Georgian Colonial houses in Brooklyn (perhaps the City) and this house”
A slight exaggeration–I can think of three others in Lefferts Manor and one in Park Slope (none of which are for sale)–but there are only a handful and your point is sound. This is a VERY unusual house for brownstone Brooklyn. BTW, the similar houses in LM are all attached in the rear;1860 Bedford is free-standing, so, I guess,it could be called unique
There are 11 houses in LM on the market. Four are on Rutland and seven are on Midwood Street between the two blocks of Flatbush and Rogers. Two or three of these properties are in contract.
Interestinly, there are several “right buyers” according to the broker who has received at least three offers on this property already. One offer “is very handsome”.
As Bob Marvin noted, there are only about four of these neo-Georgian Colonial houses in Brooklyn (perhaps the City) and this house does seem to interest a lot of people in and outside the neighborhood. So I guess this place is quite unique.
I have heard so many people say this house has the potential to be an amazing neighborhood gem but only with a PROPER renovation. The roof line is a work of art and seems to be in good condition. 100 percent re-pointing of the exterior, new windows, and restoration of the garage would be a good start. The other interior stuff like plumbing, electrical, dry walls, etc. would follow and move fairly quickly since the house is a clean slate. I’m sure there are community architects and contractors willing to offer free consultation to the new owner(s) to get them on the right track. Ideally, it would be nice if someone in these trades would purchase the house.
Keep in mind the “appraised sister property” down the street that appraised for $1.5 million is owned by a real estate broker. These two are beautiful houses but you have to take that appraised value with a grain of salt.
I’m with 9:53. Please price this house right for once and get somebody in there who will fix it and take care of it properly! In a case where a house is in this condition, it’s irresponsible to be making property values a priority over getting a more responsible and committed owner in the house.
1. the “right buyer” will be hard to find for this property (hard-pressed to call it a house)
2. minimum of six months work; more likely a year or more before it’s livable…
3. literally, not figuratively, a shell: only one modest fireplace surround exists as detail; everything else except the bricks and patched sub-floor is gone — no pipes, electrical service, etc. some good news in that, but nothing an amateur DIYer would generally be able to handle…(w/out quitting their day job)
4. while existing maintained homes hold their value well, this one’s a real crapshoot in terms of where market will be in twelve months…don’t need to restore to original condition, but renovation/restoration would need to be done to a certain standard in order to fit into the LM market…
5. given need to self-finance such a property/project, the risk-reward equation puts this well below the ridiculous $900K ask – maybe half….
No question this is the perfect house for the right buyer. But not at that price.
FYI Bob I share your pain. I walk by this house EVERY F-ING DAY on my way to work. I am glad to see it on the market but I would prefer to see it on the market for an asking price that will invite more people to actually take a look and make an offer.
-6:20
8:36,
Everyone knows that there’s a crying need for more hair and nail salons in PLG [NOT–inside joke] but the Lefferts Manor covenant would preclude that use here.