Monday, June 10, 2013

Crown Heights 2-Family at Condo Prices: 202 Schenectady Avenue

On Platinum Member radar for a few weeks before it came out, 202 Schenectady Avenue is a 2-Family "deep" in Crown Heights that's more affordable than many condos.  With condos in South Slope trading around $850/sqft, and condos in the towers in downtown Brooklyn asking as much as $1,000/sqft, it's nice to see a barrel-front townhouse listed at under $200/sqft.  If the new asking prices throughout town are you giving you the same altitude sickness they're giving us, take a little comfort in how relatively affordable the asking price of $569K actually is.

With "upgraded mechanicals throughout", there's plenty of room to do the more fun upgrades like kitchens when the pricing's this attractive.

Listing agent Caterina Peters tells us the house compares favorably to a similar 2-Family now in contract that had bids in the high $700K's.  We're sure there's moaning about the Utica stop, but where else you getting 3 stories and a back yard under $600K?  Vinyl siding in Bushwick, perhaps, like 22 Weirfield Street is some of the recent competition at this pricepoint.  We'd take the yard at Schenectady and the trains, but that's just us.

This is worth a look for anyone in the sub-$700K market whose only other comps in this price range are distressed properties bought in cash.  If you missed 1148 Sterling Place a little further west in Crown Heights, this is one of your next-best looks in this price range.

Pro's:  curb appeal, pricepoint, updated mechanicals, some original details, townhouse at condo prices

Con's:  set for some cosmetic upgrades, deeper in Crown Heights that many want to be

Ideally:  a breath of fresh air when coming from all-cash bidding wars in Bed-Stuy

1 comment:

  1. Closed last month over asking price, but still affordable at $588K