Friday, April 15, 2011

Back to Lefferts, Again: 112 Lefferts Place

It seems like every other house on this quiet little block deep in Clinton Hill has been for sale at one point or another. Lots of turnover going on for one little Lefferts Place. 112 Lefferts Place is a 16' wide semi-attached 2-Family brownstone with an open house this weekend on Sunday April 17th, from 2:30-4pm. Taking a look at the listing and sales history the past few years, this place has been hot potato since the crash, most recently purchased for $750K in November 2010.

The interior is fresh, but the quality feels like a rental. Although, they did manage to squeeze an incredible 5 bathrooms and 5 legitimate bedrooms (16' x 16' at the smallest) on this minimal floorplate:

Make sure you see what else is on this block. Compare to such neighbors as the slightly smaller, more home-y 20 Lefferts Place or the renovation candidate 26 Lefferts. For another semi-afforadable 2-Family in Clinton Hill with a higher price but perhaps more value, there's 441 Waverly. With all those big bedrooms and no renovation needed, 112 Lefferts is certainly no lemon, and has lots of value for certain buyers.

Pro's: delivered vacant, renovated, "five story" allows for triplex over duplex, lots of bathrooms & bedrooms for such a small 2-Family

Con's: quirky block, 16' wide, next door to the driveway, maybe not the best house for this price on the block, feels thin, feels like a rental

Ideally: $1.195M sounds high to us, has lots of value much closer to the $960K 2-Family FHA loan limit.

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