The brownstone at 260 West 121st Street has great bones and a lot of original detail, but the entire building has seen better days. First, the good news is that all the electrical, plumbing and roof are have been updated in the past few years, so there's nothing too major in that department. There's also a huge amount of original detail, but most of it has been painted over by layers of high-gloss paint. The tricky thing about the house is the various, chopped-up apartments in the building that are in really shabby shape. The exterior, although gorgeous in its aesthetic appeal (look at the arced cornice), needs a really good paint job to restore it. Another issue to watch for is the empty lot next door, which can be bought for a hefty price if you buy the house. If the lot is not bought, then who knows what will be built next door? All said and done, the asking price is $1.3 million for the house, and the deal with the side lot included will cost $2 million. Two million can get one a lot of house in Harlem with less work, so it's looking like a big stretch for this one. The closest train to this South Harlem house is the A,B,C,D on 125th Street or the B,C on 116th Street.
Not sure if you saw the place, but it seemed to have some damage to the structure. The did some roof work to fix some leaks. The leaks damaged the floors on the second and third floors - unless something else caused the damage. Otherwise, decent bones and a nice area.
ReplyDeleteI was at the open house this week and agree. Needs tons of work and is overpriced for the market. With an 750 k Reno budget you would be good but you could buy a renovated place for 1.4 so the numbers don't work. That vacant lot is another huge issue since the builder will go as bis as possible. Hope the buyer likes shaddows.
ReplyDelete