Friday, April 11, 2014

Listings: Ground-up Brick 2-Family on East Bed-Stuy Corner - 124 Patchen Avenue

New to the Listings section of the blog, it's another ground-up construction special on the outskirts of the well-traveled historic stretches of Bed-Stuy.  This isn't the 100 year old house of your dreams, but it's way better than its former life as a vacant lot with a few cars on it...

Listing broker Nevo is at it again bringing 124 Patchen Avenue to market for $1.35M.  This corner of Madison and Patchen made another great development candidate for this brick house with all the spaciousness of its ground-up cousin 906A Lafayette Avenue, but on a larger floorplate.

The view over the playground across the corner is pretty nice...

124 Patchen Avenue is like the Stuyvesant Heights ground-up answer to a 71 Irving Place in Clinton Hill.  If you're looking for an affordable corner just off the beaten path, you'd be kicking yourself for not picking up 1516 Bergen Street when it could've been had around $800K.  A much smaller, totally turnkey 2-Family a few doors down from 124 Patchen just went in contract around its asking price of $699K:

We don't head this far east often, and we're not jumping out of our seats at $1.35M on this place, but it's bound to make the right buyer and the seller very happy.  With folks already looking for "the next Brooklyn", it feels like there's still plenty more to go.

Pro's:  size, totally fresh renovation, full of huge windows on all sides, double-duplex including a 4BR/2 bath, finished basement with high ceilings, central heat & A/C, playground across the street

Con's:  not everyone's style of renovation, further east than many are heading so far, small yard

Ideally:  another ground-up hipster hide-out in the making

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