Saturday, April 23, 2011

A True Home: 116 Willoughby Avenue

The fancy-pants 2-Family market is alive & well. $1.595M for a 2-Family is not our speed, per se, but we keep you posted. 116 Willoughby Avenue is a gorgeous, landmarked 2-Family limestone that sits on the north side of Clinton Hill. Willoughby is a quiet, one-way street with some great-looking houses, just a block from all kinds of commercial amenties on the ever-growing Myrtle Avenue. Although, the G is very close, the walk from here to a city-bound train can be draining on a daily basis. Many take the bus down Myrtle to the train. That said, the house looks immaculate and the proximity to nice stretches of Myrtle and DeKalb, Fort Greene, and the park give this place lots of charm and value to buyers who want a building with a true home feeling.

Fireplaces everywhere, nifty style, great floors, owner's triplex, and a backyard make the house a hands-down YES to us. Being across the street from some tall housing complexes on Clinton Avenue might be a turn-off to some buyers. The neighborhood might not trade with the same premium as Carroll Gardens or Park Slope, but that's why people come over here. There's a different feel and often more value. Speaking of value, what's the flexibility on the price? Considering the owners paid $1.4M in 2005, probably not much. And there is lots out there for $1.5M and up. If we're going to spend $1.6M for a great 2-Family, we'd rather have 407 Sterling Place.

Pro's: great house, curb appeal, backyard, amenities abound, private entrance for rental unit

Con's: 2-Family, hike to a city-bound train, across from some tall housing complex, maybe not the best in breed

Ideally: you'd really have to fall in love with 116 Willoughby Ave to make it happen at this price, which we're not ruling out, but make sure you've checked all the other options out there first

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