Wednesday, January 25, 2012

Expired Listing with Potential: 105 St. Marks Avenue

"And now, ladies & gentleman, the starting line-up for... your Chicago Bulls!!!"

Ok, not really, but how hilarious is this video? 105 St. Marks Avenue couldn't really compete with the likes of 57 St. Marks Avenue in the $2M range, but there's still plenty of value here considering the price action in Park Slope. We're kind of sad to see it go away just as the market was really heating up. We can see action on this just below that $2M number, given what's been going on. And they only bought for $1.1M in 2007, and didn't do the MOST amazing job or anything inside. Isn't there equity left to strike a deal appealing to both sides? The C of O is for a 2-Family "with no more than 4 boarders". So those of you who had a 5th boarder in mind for this place, you can "Fuhgeddaboudit!"

You get a healthy 20' x 50' on four floors with an extra-deep yard and some buildable squarefeet? Original details are okay, with a mediocre renovation for this price point, but we see potential.

Pro's: curb appeal, great block, price coming down in an up market, big place

Con's: so-so renovation, no longer listed

Ideally: maybe this owner would reconsider...

1 comment:

  1. re-listed for $2.99M and sold for $3.1M last month