Wednesday, October 31, 2012

Back Again: 126 1/2 Washington Avenue

While cash offers well over a million dollars for fixer-uppers in Bed-Stuy are being rejected these days, people still hound us for turnkey houses in some of Brooklyn's most sought-after neighborhoods for under $1M.  Go figure.  The former listing agent for 126 1/2 Washington Avenue told us the house had sold a few months ago.  Turns out that must not be the case because the house is back out a few days ago for $999K.  Now this wouldn't be the first time this lesser-known listing agent needed help moving an under-marketed listing.  Corcoran took a house in Bed-Stuy off their hands that wouldn't move for months at $1.1M until they stepped in.  Now Fillmore appears poised to do the same thing, but at an even higher price point than they were originally asking.

Yes, for "just" $999K, you can land this 3-story brick house with no interior pics, that sits barely 17' by 30' on a 100' lot.  The listing claims, "This home does need some cosmetic updating but the price is right and reflects that."  The only other look we're given is of the backyard, which will need some cosmetic updating of its own:

This house is located on the north edge of Clinton Hill, just off of bustling Myrtle Avenue, near Pratt, near Fort Greene.  It's deceptively well-located, but it ain't too cheap these days either.  Corcoran wants over $1.3M for a similar 3-story house next door at 128 Washington Avenue.  We were told that 126 1/2 Washington Avenue had sold for $825K, so that was obviously a do-able price for the seller recently, but who knows where their head is at now?

Pro's:  under a million, Clinton Hill, relative value potential, basketball courts and prime Myrtle Ave around the corner for Bed-Stuy prices

Con's:  no interior pics, narrow & shallow floorplate, price has gone up without sweetening the pot

Ideally:  there's gotta be a price between $825K and $999K where this makes sense for both buyer and seller