Wednesday, November 24, 2010

Foreclosure Auction Time: 92 Lafayette Avenue

We love this stretch of Lafayette. Prime Fort Greene territory. The park is close by, the Lafayette C train (which is curiously actually on Fulton) is close by, you've got a lil' 67 Burger, a lil' Smoke Joint, a lil' Habana Outpost - we'll even forgive Lafayette for being a noisy ave with a bus route going down it. Scattered listings pop-up over here, like one of our personal faves that managed to get bootleggedly faux-listed by various groups including those jokers over at Rapid Realty, 79 Lafayette. And there was the mysterious 70 Lafayette too. Today comes a great-looking place just a block over, 92 Lafayette.

Unlike some of the affordable foreclosures out there we've covered, this looks like simply a bad buy unravelling. Purchased in 2006 for a steep $2.4M, a lil' Lis Pendens in 2007, and again in 2010. Now the foreclosure auction for $1.7M-ish is scheduled for 12/16/2010.

What's the condition inside? Can you ever get a look? What's a mystery meat 1-Familiy foreclosure bound to fetch over here? Who knows? Can't wait to see...

Pro's: curb appeal, great block, proximity to park & trains & amenities, auction offers discount opportunity

Con's: what's the inside like?, can you see the inside?, noisy block, train rumble beneath house?, unknowns

Ideally: People still mess around and pay over $2M for the right building over here. But it's hard to justify a certain price on this thing with so many unknowns. Fascinating case all the same.

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