Wednesday, August 6, 2014

Restored Gem Coming to Market in Clinton Hill: 102 Gates Avenue

Today we checked in on a pretty epic renovation & restoration in Clinton Hill coming along nicely, set to hit the market in a few weeks.  Many of you may remember 102 Gates Avenue for its record-breakingly huge open house with a line around the corner in the cold.  Back when the condition was easy to take potshots at.

Now that the house is starting to twankle & glisten, we can't imagine what the response will be in this market.  When it's ready for its close-up, the shiny pics will do a better job than we can.  The iPhone certainly doesn't do it justice...

And that's before the parlor's even finished up.  Full of restored original details like the claw-foot tub, doors & door hardware, a great variety of wood floors, moldings.  This house makes the quintessential high-end end-user 2-Family as a triplex with garden access over a garden rental.  Even the kitchen in the rental is pretty sweet...

Tasteful choices and neat varieties of tile, paint color, fixtures, and finishes create all the little touches that make buyers melt.  The mix of modern upgrades, restored original features, a little style and attention to detail make this house a stunner.  And in a few weeks, it'll look even better.  Those who bought contemporaries of this house like 148 Gates Avenue must be loving life with what this listing will imply for their value potential.

Some real estate brokers in Brooklyn ask us if the market has cooled off.  Others tell us it's slow because it's the summer.  (Both of these brokers, mind you, are selling homes for $2M and higher well into Bed-Stuy on and off-market - so what's "slow" about that?)  If it's slow out there in Brooklyn real estate in August, maybe it's the calm before the storm.  We've heard about lots of big ticket, flagship listings signed and ready to hit the market in September when the ballers are back in town and on the prowl for houses.  Some sell before they even hit the market, others turn down amazing pre-market offers and opt to test the open market.  Keep in mind, inventory waiting on the sidelines doesn't mean prices are necessarily set to cool off either.  There are a lot more balling buyers out there than houses this sweet.

Pro's:  top to bottom stylish renovation & restoration, curb appeal, full-sized 4-story, great owner's triplex, separate garden space and lots of rental income potential on garden floor, prime Clinton Hill

Con's:  won't go cheaply, won't go pre-market, won't be any secret, at these prices some people refuse to go beyond Fort Greene

Ideally:  way above our pay-grade, but a stunner that will certainly make a buyer and seller very happy, even at a high price

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