Wednesday, April 27, 2011

☞ DWELL: 1990 Madison Sold in April

The 20 foot wide SRO brownstone at 1990 Madison and 127th Street has finally sold.  This building had gone in-and-out of contract in the past year and had been marketed back in 2009 for the asking price of $995K.  A major issue with the property was that a previous certificate of non harassment had expired and the adjacent boarded-up, corner brownstone (although renovated at one point) had reported issues with squatters on site.  After several price reductions, public records now show that number 1990 finally closed for $525K


  1. Great deal, that is a huge house

  2. Cash only deal too.

  3. Cash is the only way to buy it. Without a certificate of no harassment it's impossible to get anything but a commercial mortgage on it. We went through it twice and thought it had incredible potential. There was an huge amount of space. But high taxes ($2K/month at the time we were looking), the lack of a CoNH, and not the best immediate neighborhood meant we passed on it.