Monday, August 23, 2010

Urban Jungle 2-family: 351 Sackett Street

We're back from the tropical jungle and into the urban jungle. 351 Sackett Street is a 2-family in Carroll Gardens just off of Smith Street, around the corner from Zaytoon's and Bar Great Harry. Property Shark says it was originally listed at $1.399M in November 2009, now listed with Fillmore at $1.195M. This postlet says it's in contract. Only 20' x 30', so it's a small floorplate, but with the english basement, the 4 floors give it fair square footage. Property Shark has it listed as a 3-family, rather than a 2-family, but the postlet says it only has 2 bathrooms. With the list price right around the FHA 3-family loan limit, this difference is crucial. However, the listing calls for a gut renovation anyways. If it's set up as 2 duplexes with only 4 bedrooms, we don't see much of a play here around this price. It will be interesting to see what it closes at.

Pro's: location, at least 20' wide isn't 16' wide, "R6 zoning allows expansion"

Con's: depth, 2-family status, price

Ideally: probably still a better buy than 202 Bergen, under a million could work over here

1 comment:

  1. This closed for $925K on 8/18/2010 and was just recorded last week.