Photos Now up for Grand But Decayed Brownstone Asking $2.75 Million in Fort Greene
If you’re curious, photos are now online for the impressive but structurally unsound brownstone at 6 South Oxford Street. It was a HOTD in April; the ask is $2,750,000. At the time, commenter Pierre de Taille said the stairs are “completely rotted” and the plaster details that are left “aren’t salvageable given the extent of water damage.”…
If you’re curious, photos are now online for the impressive but structurally unsound brownstone at 6 South Oxford Street. It was a HOTD in April; the ask is $2,750,000. At the time, commenter Pierre de Taille said the stairs are “completely rotted” and the plaster details that are left “aren’t salvageable given the extent of water damage.” Not only does the roof have a hole in it, but reportedly some beams on various floors have collapsed. It will need “everything new,” including “structural walls,” in his opinion. Apparently, it’s also an SRO. Kudos to the brokers for putting up photos. Click through to the listing to see the grand entrance hall and an unusual mantel. Does anyone have experience rebuilding houses that have been open to the elements?
6 South Oxford Street [Douglas Elliman] GMAP
You buy this at ask for 2.75M, you spend 1.2M on renovation/restoration. You got a 5million dollar house. It doesn’t make sense to buy this and spend a year + in renovation when you can get a move in ready house.
How are brokers pricing these houses? I think they just put numbers in a hat and pick.
Cost of House = $$$
Cost of Renovation = $$$$
Cost of Sanity = Priceless
@ Andrix. I would love to hear about your experience. Thinking about doing something similar and, given that this is an expensive, lengthy, arduous process, I would really appreciate any tips from someone who’s been down a similar path. Currently on Cumberland, looking around in the surrounding blocks. Please let me know if you’d be willing to entertain a few questions offline. Thanks!
a bigger house and doesn’t need as much work to make this a 2 family.
At the end of the day, this would be a better buy.
http://streeteasy.com/nyc/sale/893176-multi-8-south-portland-ave-fort-greene-brooklyn
MM, I too think this would be a great project. But the asking price is ridiculous considering that the house has to practically be rebuilt.
And if someone wants to re-create the details, I take back my 1.2M renovation cost….1.5M.
People buy fixer uppers because after all is said and done (cost of house, cost of renovation, and time on renovation), it’s a better value. But not in this case.
And first glance at the listing, I mised it’s an SRO with no mention of Cert of No Harassment….ChaCHING…that’s the sound of more money falling out of the owners’ pockets.