Monday, May 11, 2015

Another HomeCanvasr.com Experience: 420 Franklin Avenue, #1



Available only on HomeCanvasr.com, it's a Clinton Hill / Bed-Stuy duplex condo with private backyard asking $1M.  420 Franklin Avenue, #1 is a 2BR/2 bath garden floor condo with finished basement and laundry in the unit, grossing almost 1,500 square feet and almost 700 square feet of private outdoor space.  We were impressed when we first saw it a few weeks ago...










Totally renovated and first rolled out the door last year, the owners have made some tasteful additions since; including taking out some heinous accent tile the developer put in the bathroom, and adding some custom made bookshelves fashioned out of plumbing pipes...






Just in the time for the warm weather, wall AC units in every room.  With relatively low common charges under $400/month, this apartment works as a Franklin Avenue townhouse alternative for those who can't handle fixer-uppers in the $1.35M-$1.8M range.  And you still net the backyard action that townhomes are loved for...




With $700K 1BR's flying off the shelves heading towards Franklin, this is a much larger piece for not that much more money.  We'd rent the finished basement as a legit bedroom ourselves, but whether you count it or not, it makes a great man-cave is nothing else.  Not to mention the laundry...






Some people tell us "a condo that nice for 'only' a million is a no-brainer".  The peanut gallery will obviously point out the owner's cost basis, but the market is the market.  Apple's gone up 25% since last September...




Why can't one of Brooklyn's Finest condos?  For those who want townhouse feel on Franklin Avenue at a relatively affordable slice, this is the move.  But we'll see what the market has to say.  With an open house coming up, it's easy to find out for yourself.


Pro's:  true 2 bedroom & 2 bathroom duplex with laundry, AC, and private backyard, low common charges, ON Franklin Avenue, great Bed-Stuy/Clinton Hill/ Crown Heights tweener play, no big broker commission on the scene, nice owner updates since purchase, shows great, not a huge multi-unit

Con's:  not a garden/parlor duplex, finished basement isn't true square-footage in everyone's book, more expedient than grand, uptick since last season 

Ideally:  if you can find a better 2/2 with private yard, buy it!


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