Tuesday, December 13, 2011

4-Family After Top Dollar: 405 Clermont Avenue

With $2M the new benchmark price in Park Slope, everybody wants to come along for the ride. That's why the 4-Family gut reno on 572 Pacific wants $2.295M. Now we have 405 Clermont Avenue, a gut renovated 4-Family brownstone on the Fort Greene/Clinton Hill border for $1.8M. Reading the dinky description, it pretty much looks like they texted this listing in. And besides, who wants to just read for $1.8M? Would you rather hear about "GUT RENOVATED FIRST FL DUPLEX CUSTOM MADE KITCHEN" or see it? Too bad there aren't any pictures either. This is all we get...

Worse yet, they raised their price from its original $1.6M in the first 3 weeks! You want a meaty house for this kind of money, not 35' deep.

Pro's: curb appeal, location, great block, renovated

Con's: no pictures, price is tough, way better $1.8M's to be had, only 2,800 sqft on a 20' x 35' floorplate

Ideally: they show some pictures and drop the price.

1 comment:

  1. Problem with the 4 fam is that your mortgage tax is a full percentage point higher. You are at 2.925% vs the 1.925%. That with the higher taxes on commercial property (NYC views 4 fam as commercial) it makes this a tough sell. How did they get a duplex into the equation?