Monday, November 1, 2010

Just Closed: 324 Carlton Avenue

Back from vacation with a look at a 3-Family building in prime Fort Greene that recently closed for $1.2M on 10/20/10. This Street Easy listing for 324 Carlton says it needs a complete renovation. Property Shark says it was first listed in June 2010 for $1.25M, and it looks to be an estate sale. While this would be a great block to live on, right between the main drags of DeKalb, Lafayette, and Fulton in Fort Greene, our first instinct is the price seems a touch high for a 19' X 35' place in need of a complete renovation. Especially when compared to some of our favorites like 258 Adelphi. Although, you throw in the 17' foot extension and a limited supply of quality buildings on these blocks in this price range... nah, it's still pretty surprising.

The listing brags that, renovated, this "can easily become a $2,000,000+ house" and the pretty immaculate 341 Adelphi might agree. Although the whole might not be greater than the sum of the parts, once all the work is done.

Pro's: curb appeal, prime Fort Greene, 17' extension

Con's: a bit on the small side, 1BR rentals, needs lots of renovation

Ideally: still probably better off with this than the handful of other $1.6M+ places on these blocks in not-impressive condition, but this sales price almost makes poor ol' 204 Clermont look appealing

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