House of the Day: 110 Lefferts Place
The case of 110 Lefferts Place exemplifies why house-flipping can be a tricky business. The current owner paid $950,000 for the five-story brownstone (which is “not in move-in condition,” according to the listing) last August, suggesting he probably went into contract in May or June. He put the house back on the market in January…
The case of 110 Lefferts Place exemplifies why house-flipping can be a tricky business. The current owner paid $950,000 for the five-story brownstone (which is “not in move-in condition,” according to the listing) last August, suggesting he probably went into contract in May or June. He put the house back on the market in January for $1,100,000, which would have been enough to earn a good return on his equity given that he had managed to finance more than $900,000 of the original purchase. Just last week however, the price was cut to $950,000, meaning that with the broker’s fee, his equity will be wiped out. This stuff always sounds good on the way up.
110 Lefferts Place [Corcoran] GMAP P*Shark
it is a great street. kind of private. Once Fulton Street gets there act together This street will be HOT…
“This area is not so fringe. You don’t have million dollar shell in fringe areas. Now BS where I live and CH thats really fringe. For now away way”
This is bedsty by some peoples definition of Grand as the border and a few feet from it according to those who say Classon is the border.
“Is this house in a nice part of clinton hill?”
Two kids were shot on this street on Christmas Eve. Maybe that’s why the buyer decided to cut and run.
I so want to buy one of these in a fringe neighborhood (but up and coming neighborhood), take 2 years to totally renovate the place and then decide whether to sell or live there. But I’m not going to do that for $900K for a shell when I want to put another 500K to $1 million into it. It’ll be interesting to see if this even sells for this price. I’m thinking it is going to go for closer to $600K than $900K.
2:56 can we get back to the house? Is this house in a nice part of clinton hill?
It’s actually on a fantastical street that only runs three blocks, has a funky old hotel (not sure if it is still functioning as one) and an incredible free standing Victorian. It’s actually one of my favorite streets in Brooklyn.
This area is not so fringe. You don’t have million dollar shell in fringe areas. Now BS where I live and CH thats really fringe. For now away way
I think your wording made is sound liek you KNEW this was a flip job. I must think most short term turnarounds are because of death/divorce/job transfer/kid got into Dalton and youre moving uptown/inheritance/lotto/job loss/leg less and NOT flip jobs.
Sad, but also really stupid, to keep quoting sections of other people’s posts and then putting one inane word after them.
“Yawn” indeed.
snooze.
can we get back to the house? Is this house in a nice part of clinton hill?
It’s been a long time since I have seen anything in Carroll Gardens go for under a million.