Monday, August 18, 2014

Projects: Crown Heights Renovation - 660 St. Marks Avenue

This week we stopped by to check in on the renovation of a Crown Heights limestone that Platinum Members picked up last year under $1M.  We were scoping 660 St. Marks Avenue for weeks before it hit the market two year ago, and before it hit the market again last year in a better position to close.  It's not everyday you get Crown Heights today at last year's prices.  So a year after that, the appreciation is looking is even better.  So is the house!

Who says Corcoran deals are always overpriced??  The house has been gut renovated complete with new electrical, new plumbing, new heating, joists sistered, exposed wood beams, new steel beam supporting the back of the house.  The owners say all the contractor bids came in around $1M, but they took the reigns of GC'ing themselves and pulled it off for less than half that.  Affordable fixtures like Ikea in the kitchen & bath, along with bamboo floors (that can run as little as barely $2/sqft), still turn out just great...

This is with only the upper duplex 85% done!  Can't wait to see how the lower duplex turns out.  That's how you do it with a 18.5' wide limestone with an extension and an extra-deep lot.  We think this house cleans up even better than 627 St. Marks Avenue across the street that sold for $1.9M with Corcoran this year.  Platinum Member purchases in the past few years in Crown Heights (such as 1379 Pacific Street, 894 Sterling Place, and 1134 Bergen Street) have seen their tide rise tremendously with the rest of the boats.  And Platinum Member misses in Crown Heights are doing just fine too, like 1329 Pacific Street, 1020 Park Place, 255 New York Avenue, and 1261 Dean Street.

Platinum Members have accepted offers on 3 Crown Heights properties off-market, under-marketed, or pre-market, that you won't find on your StreetEasy or your New York Times.  Can't wait to see how those turn out too!

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