Wednesday, April 20, 2011

North Slope Renovation Candidate: 405 Douglass Street

405 Douglass Street is a 3-Family in north Park Slope, just off 5th Avenue that "is ready for your renovation." The listing also boasts "its original details including fireplace mantles, pocket shutters and mouldings." Take a look inside and see for yourself:

Great original details wasn't the first phrase that came to mind. Lots of renovation is needed and it's unclear what the ideal end-product would be. Your neighbor 632 Baltic can't fetch $1.5M and it'll take more than $200K to get up to speed with him, so the whole isn't greater than the sum of the parts. 405 Douglass is still a way better buy than our pick 292 1st Street from earlier this week at their current list prices, but anybody with this kind of money and renovation budget should take a look at 432 Clinton Street. We'd be kicking ourselves even at $1.1M.

Pro's: location, delivered vacant, close to trains and amenities

Con's: curb appeal, funky block, lots of work to do, pricey

Ideally: if you can afford the renovation, give the owner an aggressive offer.