Friday, January 7, 2011

Not Even Close: 137 Adelphi Street

We can all dream a dream, can't we? When you're a little kid, you wanna grow up to be a fireman or an astronaut...

Well, 137 Adelphi Street has dreams of growing up and selling for almost $2M dollars. Okay, $1.995M to be exact. We're shocked and appalled. $2M gets you a fine piece of property in a good location, up and down the great neighborhoods of Brooklyn that we cover. But who's going to pay that for a 17' wide 3-Family on the north side of Myrtle that needs extensive updating and TLC?? Have they not learned the lessons of a property just around the corner 204 Clermont? (which, a reader pointed out incidentally, is finally in contract after over 2 years?) Who wasn't buying 204 Clermont for $1.54M for months & months and is now suddenly going to decide to spend $455K more on a worse property that's further from trains and amenities? We're down-right appalled. Not sure if this agent took the listing just for the heck of it, or what. But we don't see this thing going anywhere without a $600K+ haircut.

There's lots of love needed inside. Here's the best-looking picture available:

And here's what most of them look like:

The same money (or less) would be much better spent on: 82 Dean Street, 82 Butler Street, 54 St. Felix, 407 Sterling Place...

It's almost an insult to these fine properties (which, mind you, haven't been able to sell for months) that someone would list 137 Adelphi at this price, in this condition, just a few weeks ago. Feel free to e-mail us for a list of at least 10 other places that are way better than this one and probably way cheaper!

Pro's: at least it isn't a full $2M!?!

Con's: price, off the beaten path, not even a cute block, narrow needs lots of updating

Ideally: in the year 2012, the owner might get lucky when someone puts a $1.2M offer in.


  1. migrated to here:

    1. The truth comes out, down to $1.2M:

  2. Sold for $2.35M in December, proving even narrow townhouse dreams can come true in this market!