In Bed-Stuy you get great old housing stock at a great value, and new developments trade at a value too. 315 Gates Avenue, for example, is a nifty condo project that sold at really attractive prices. Now one of our favorite local brokers Celeste Moses, who specializes in underground deals, has 3 condos coming on the market in a townhouse on Greene Avenue at really nice prices. Celeste is talking 3BR/2 bath duplex condos, one with a yard, one with roof access, well over 1,000 sqft, under $700K.
Not a bad look for condos of this caliber...
Local brokers have also told us about some other upcoming apartments over in Prospect Heights, including...
- a 2BR/2 bath duplex with private roof deck asking $1.15M
- a 3BR/2 bath with modern renovation for under $950K
- a 1BR with modern renovation for under $500K
Pro's: modern renovation, nice size, value compared to this price elsewhere, pre-market look
Con's: not everyone's ready for Bed-Stuy, it's a slippery slope to just buying a townhouse further east at these prices
Ideally: a sleek look at a bite more people can chew on than $1.1M SRO's for all cash
This is an interesting property (btwn Nostrand and Marcy), with it's wonderful front and backyard view of the projects, as well as the fact that the home sat vacant for a long time due to a fire that killed quite a few children. Most outsiders aren't aware of this homes history. I live in the projects parallel to this street and always wonder why would some spend $1 million dollars to have such a dodgy view.
ReplyDeleteNot to mention a lot shootings take place in relation to this particular block