Sunday, February 6, 2011

Carroll Gardens Coattails: 496 Henry Street

A few blocks west of the lovably-loaded Court Street in Carroll Gardens sits 496 Henry Street. This 4-Family brick building is in that upper price range of things we cover, but not nearly the nicest interior, exterior, or location we cover. So we wonder what we're paying for over here. It looks like a property that's just riding Carroll Gardens' coattails, as if anything decent over here can command close to $2M. We're a little more discerning when it comes to that kind of money.

There's some nice spaces inside & out:

But nothing about the bathroom or kitchen shown knocks our socks off.

82 Butler is still a better buy for sure. 297 Court Street might even be a better bet too. Let's face it, 440 Henry Street was the best buy of all over here.

Pro's: 4-Family, close enough to Court Street, rental income potential, small backyard

Con's: steep price, kitchen looks a little small & dated for this price, towards the BQE, 6' wide 2nd BR in upstairs rental?

Ideally: Wouldn't overpay over here for this. Even if you wanna overpay, there's better places to do it. There should be plenty of equity there for the owner to make a stab at a lower price.

1 comment:

  1. Sold for $1.775M on 7/8/2011:{scid=hdp-site-map-bubble-address}