Friday, August 31, 2012

☞ DWELL: 261 West 121st Street Brownstone

OPEN HOUSE: Tuesday, September 4th, 5:00PM-6:00PM.  Number 261 West 121st Street is located right around the corner from the FDB corridor and close to subway but used to be a former SRO. Apparently the 17-foot-wide house has been gut renovated in moderate finishes and will be ready as a 4-unit condo when all the paperwork finally gets approved. There's not much detail in this one but it appears to be turnkey.  Asking price is currently at $2.2 million. More details on the broker site: LINK


  1. That is a 4% cap rate. Is this where things are pricing these days?

    With the 30yr rate at 4%, I would think cap rates are at least 5%.

    Does anyone know what a moderate renovation on a 17-footer costs these days?