Thursday, August 20, 2015

Bed-Stuy Stunner with Open House This Weekend: 806 Greene Avenue

When you're asking $2M+ in Stuyvesant Heights, you'd better have "one of those" houses where the renovation is butter.  And with an asking price of $2.375M, 806 Greene Avenue doesn't disappoint.  The modest brownstone exterior belies the stylish, decked out reno inside.  The listing says, "The owners combined their world renowned architectural and design skills to create a utopic home with a desire for simpler, fuss-free living."  Full of brand name fixtures, this house has high end retail finishes throughout at high end retail pricing.

$2M has been touched and surpassed a few times before in Bed-Stuy and Stuyvesant Heights, and for houses not quite as stunning as this.  Platinum Members hit the off-market asking price of $2M this summer on the 200-block of Jefferson for a house with more original detail, but not quite all the modern pizzaz -before the owners opted to rent instead.  The buyers now have a contract out in Stuyvesant Heights over $2.2M on another house before it even hit the open market.  All on the same block where yet another house closed for over $2.2M.  And don't forget 391 Macon Street, which closed for $2.2M in June to buyers from more prime Brooklyn.

As long as buyers with $500K+ downpayments are willing to go further and further into Brooklyn, these price points are achievable.  But they do get you top of the line product, instead of what shells and what generic reno's and 3-stories go for $2.5M and over in Fort Greene and Park Slope.  So while the price proximity between such perceived-as-different neighborhoods may surprise you - heck, it even surprises us - the market comes down to a decision for the home owners and home buyers.

806 Greene Avenue's yummy pics will have those tippy top buyers gushing...

Even the baths look magazine quality...

And you've gotta have that yard.  $2M+ Manhattan condos won't come with that.

When you could find bones this nice for $1.4M-$1.5M, but would have to spend $400K+ and many months to make it right, you can see why handfuls of people opt to "overpay" for finished product that couldn't've produced themselves even if time & money were no object.  For $2.3M+ you might've wanted at least one of the 6 fireplaces restored to functional, but doing that part yourself won't break the bank.  At least it has 6 of 'em.  As high end double-duplexes go, this 806 Greene Avenue is top notch, and probably won't be undersold.  But with an open house this weekend, it's easy to come see for yourself.

Pro's:  totally lux reno, stylish & unique interior, many original details intact, double-duplex set-up, finished cellar, barely more than worse on & off market deals in the high-end range of Bed-Stuy, great pics up and open house to come

Con's:  special pricing, pretty standard curb appeal, further northeast than most people wanna be, would like a working fireplace at this price

Ideally:  top of the line house for a top of the line price whose sale will still probably shock thousands, even though it makes perfect sense for a dozen or so buyers

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