Monday, August 5, 2013

Boerum Hill Beauty Sold: 230 Bergen Street

A 4-story beauty on one of BoCoCa's favorite streets sells last week to Platinum Members.  Another Corcoran listing not to be written off.  230 Bergen Street is a quintessential 3-Family with an owner's duplex and 1.5BR rentals.

Original details?  Check!  Modern kitchen & baths?  Check!  Central A/C?  Check!

The house is very reminiscent of our favorite off-market townhouse in Prospect Heights, but when the seller got cold feet, Platinum Members couldn't wait for the pricepoints to go north of $3M.  Oh wait, they already did!  105 St. Marks Ave should be blushing selling for $300K more than this finished product at 230 Bergen Street.

Oh yeah, can't forget the yard...

$4K/month in rental income on top of a price per square foot that beats most condos in this area??  Looks like another relative value to us.  Even if this price isn't for everyone, it's still bargain basement compared to Manhattan.

Pro's:  curb appeal, original details & modern upgrades, great block, great rental income

Con's:  off the beaten path by some accounts, many will want to personalize further, not everyone's pricepoint

Ideally:  another solid purchase in our book, even if it is Corcoran again

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