Real Estate

Bed Stuy Queen Anne Brownstone Flip With Fanciful Details Needs Work, Wants $1.795 Million

It probably needs the works, but considering its plethora of Queen Anne details will likely polish up nicely.

by Stephen Zacks

11/14/2018 0

Sold a couple months ago for $1.125 million, this quirky brownstone on a row of fanciful 1880s Queen Anne/Romanesque Revival townhouses with pediments and projecting window bays is being flipped for a quick $670,000 increase. The four-story brick and stone building at 466 Greene has experienced at least one other short hold in its history, when it was sold for $9,000 a decade or so after being built.

Now let’s consider its advantages. A scenic tree-lined block in an increasingly coveted section of Bed Stuy. Already converted into a two-family home. Only two blocks from the Bedford-Nostrand G train.

Herbert Von King Park, Banneker Playground, Hattie Carthan Community Garden, and Kosciuszko Pool only a block away. Wonderful Queen Anne details like four ornamental fireplaces with elaborate toppers — a little like dollhouses, if you’re into that sort of thing.

We see original door and window casings, paneling, doors, baseboards, stained glass, plaster crown moldings and picture rail moldings. Wet rooms are not pictured. Also present: dirty wall to wall carpet, popcorn ceilings and builder-grade new flooring.

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(It’s also sprinklered, mysteriously, which could be considered a plus or a minus, depending on your point of view, but we could find no evidence it was ever an SRO.)

It probably needs the works — wood stripping, new mechanicals, skim coating, new wet rooms, new floors — but will likely polish up nicely. In October, about a month after this listing went up, the owner filed an Alt-2 application for plumbing and other construction. The listing notes it’s being sold “as is.”

In September, an LLC based in Long Island purchased it from the estate of a long-time owner for only two-thirds of the current $1.795 million offering price — the latter brokered by Dani Ohayon and Tomer Shmuel of Massada Home Sales Inc. The taxes are $3,555 a year.

Considering details and condition, think they’ll get ask?

[Listing: 466 Greene Avenue | Broker: Massada] GMAP