Monday, October 18, 2010

Great Canvass: 109 Lefferts Place

109 Lefferts Place is a huge 3-family brownstone with lots to offer - just like its listing says. Who doesn't want a handsome, 4-story, 3-Family brownstone in need of a little fixing up for under a million? We're digging the front garden, the back yard, the original details...

This is the quintessential kind of place, only if it weren't on this block. We're still trying to get our heads around this block. You've got some foreclosures, some reasonably priced listings, some jankily put together condo conversions with high-end materials - it's a total grab bag. Sandwiched between the Franklin and Clinton-Washington stops on the A/C trains, the block is quiet, but also kinda deserted. We don't know what to make of it. We're not here to hate on this 'hood, though. The house is worth a look, but it may be that the same money is better spent on a renovation that's been long-finished, like 64 Lefferts Place.

Pro's: 4,200 sqft size, curb appeal, front & back yards, malleability, long-term upside

Con's: the current disorder of the block, expensive renovation in order, not many amenities within reach

Ideally: This will certainly be a great long-term play for someone with a longer time horizon, budget, and feel for this neighborhood than us. If that's you, take a look!