Thursday, September 22, 2011

Park Slope Flip: 131 St. Johns Place

135 St. Johns Place has been one of our most heavily-viewed pages since we covered it a few weeks ago. Now 131 St. Johns Place hit the scene last week on Zillow with a "Make Me Move" price of $1.6M set by the owner. Now this is a pretty good feature Zillow offers, where owners who might only have a passing interest in selling get to list for however much they want and by-pass the whole traditional listing process entirely. Which actually doesn't seem that bad in a climate of postage-stamp blackberry pictures of the exterior for buildings trying to fetch $2M. Buyers can put pictures up and everything, but this one chose not to. Heck, we wouldn't mind moving either if we just picked up the place from what looks to be an estate in ~$25K tax liens for just $999K on 9/7/11. $600K profit wouldn't be a bad flip at all.

Just who is eager to make this person move at this price, with no indication of the interior condition and no resolution of the SRO status also seen on 135 St. Johns - is beyond us.

Pro's: curb appeal, prime location, on a block with buildings like 158 St. Johns Place that just closed for $3.2M last month

Con's: SRO status, no interior pictures, 17' wide, sloppy 2nds on the flip, this is what nice places cost just a few blocks from here

Ideally: we'd never do it at this price, but maybe contact the owner and see how it stacks up to 135 St. Johns Pl

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