Tuesday, February 14, 2012

In Contract in Windsor Terrace: 488 16th Street

With the explosion of prices and pent-up demand in Park Slope proper, the last few bargains are now being swooped up in the South Slope/Windsor Terrace area. 488 16th Street is one of the latest to go in contract with a list price of $1.295M. This tiny 16' x 40' 2-Family would be a few hundred thousand more just a few blocks over, but presents some relative value these days at this price. You gotta like the musical slideshow they do when you click the link there. The inside's dated, but what were you expecting?

We think there's a little more value in a few other places here, but listed since July 2011, we can see how someone finally snatched this up. Probably a condo alternative for lots of folks. Not what we'd wanna throw $200K+ into for our part.

Pro's: value, delivered vacant, not as close to the highway as the rest of 16th Street, 60' yard

Con's: small, dated interior, might be some better picks

Ideally: if you like, there's more where this came from.

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