Thursday, January 6, 2011

More Value in Deep Clinton Hill: 380 Greene Avenue

Today we're back in deep Clinton Hill - some might say it's more or less Bed-Stuy - with a nice 3-Family brownstone. This house has a true home feel on a tree-lined block full of brownstones. We like to see 3-Family places with 2BR rentals, nice curb appeal, and a touched-up exterior for $1.25M:

However, 380 Greene Avenue might be priced like it's 5-8 blocks further west than it really is. We've mentioned the debacle we had on 298 Greene, which was a renovation that closed 15% below asking price. We expect to see a similar price cut here to make it happen. More attractive than some properties to its west, and pricier than many properties to its east, something will have to give. Looks like the owner has plenty of equity, so just under $1.1M should be a happy medium.

The interior speaks for itself:

The 2nd bedroom upstairs is too narrow to really call it a bedroom, but high ceilings and two wood burning fireplaces help the cause.

Pro's: turn-key, curb appeal, brownstone block, nice interior, wood floors, wood burning fireplaces

Con's: off the beaten path, close to the G train?!, maybe not be the best buy east of Classon, 1.5BR rentals

Ideally: this fine property takes a little haircut for a discerning buyer.

1 comment:

  1. Just closed for asking price of $1.25M on 3/2/11: