Wednesday, March 21, 2012

Birds of a Feather: 39 St. Felix Street

In a corner of Fort Greene that feels a little more like downtown than the all-residential blocks the area is known & loved for, 39 St. Felix Street has become the 3rd townhouse on the same block that wants $1.65M. We saw what $1.65M gets you in Park Slope in our last post. Now this listing joins the recently re-listed 54 St. Felix and the relatively new 59 St. Felix as alternative plays on the edge of Fort Greene.

39 Saint Felix Street could be interesting for someone. We've seen all kinds of odd places on this street, and a steal that went in a flash. While not remotely as picturesque of a block as those with the 20' wide townhouses set back from the street with a front yard, this 2-Family with a garage and a curb cut is close to Fort Greene Park and technically well-situated. BHS sure gives it a great shot with 2 open houses, nice pictures (an exterior look would be nice), a floorplan, and an accurate, compelling write-up. This kind of turnkey space at $1.65M certainly gives some of the other silliness in prime Fort Greene asking $2.4M a run for its money:

It's telling that a year & a half ago, seeing a renovated 2-Family come out on this block for under $1.65M seemed lofty, and now it almost feels like a value play compared to what else has gone on the past few months from Clinton Hill to Carroll Gardens and in between. It's almost like a fancy condo alternative for those who aren't married to the traditional brownstone with a deep yard (which trade at an insane premium over here now).

Pro's: two open houses, nice renovation, well located, flexible 2-car garage space, well-presented listing, price point isn't daunting at all for this market

Con's: this particular block is "meh", not a deep house or deep yard

Ideally: there's some value over here if the block isn't a dealbreaker. As these carriage-house looking 2-Families with garages on this block go, we'd still lean towards 54 St. Felix, but with an open house tomorrow and Sunday at 39 St. Felix, it's easy to find out what you think for yourself.

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