Tuesday, August 23, 2011

You Had Me At "Barrel-Front Brick Facade": 282 11th Street

Park Slope South was once a bastion of value. Then it got too pricey. There were a handful of deals to be had last fall, but we've seen high prices showing up further and further out. 282 11th Street is a throwback to us, and it's what South Slope is all about. It's not everyday you see a true 3-Family on a legitimately nice block in Park Slope for $1.35M. Sure, the Euro might drive off the cliff. Sure, there's fear of a double-dip recession. Sure, the inside of 282 11th Street isn't much to look at (and they're not showing us much):

But compared to the Barney Rubble exterior of a North Slope renovation for $1.3M like 405 Douglass, 282 11th Street has our attention.

This makes the Prospect Heights barrel-front renovation 154 Underhill looks like a steal.

Pro's: curb appeal, close to the train, outdoor space, doesn't feel like the usual Park Slope premium,

Con's: dated interior, only 3BR's total, no real look inside yet, probably hefty renovation

Ideally: see what the rest of the house has to offer, see if there's a move to be made, and don't be surprised if it goes above asking price