After finishing up the facade restoration this year, it now seems that 208 Lenox Avenue is up for sale since a sign has now been placed out front. The shell was featured in a previous post since the SRO conversion had just finished restoring the brickwork and ornaments out front but still had to work on the gutted interior:
LINK. The 19.9 foot wide, 5 floor landmark townhouse between 120th and 121st has a finished basement but all else needs to be added back. The 3,882 square foot building is listed as a C5 converted dwelling or rooming house (i.e. SRO) but the certificate of non-harassment seems to be in order or the building would not have had this much work done on it already. So from what we can gather, the current asking price is $975K for this half-finished shell. Thought? Photos by Ulysses
After finishing up the facade restoration this year, it now seems that 208 Lenox Avenue is up for sale since a sign has now been placed out front. The shell was featured in a previous post since the SRO conversion had just finished restoring the brickwork and ornaments out front but still had to work on the gutted interior: LINK. The 19.9 foot wide, 5 floor landmark townhouse between 120th and 121st has a finished basement but all else needs to be added back. The 3,882 square foot building is listed as a C5 converted dwelling or rooming house (i.e. SRO) but the certificate of non-harassment seems to be in order or the building would not have had this much work done on it already. So from what we can gather, the current asking price is $975K for this half-finished shell. Thought? Photos by Ulysses
Sale price (year 2007): $1,475,000
ReplyDeletehttp://www.city-data.com/ny-properties/rolling-sales/Manhattan/L/Lenox-Avenue-2.html
Noting this blog earlier post today of 466 West 144th Street where MILLIONS were lost, is it fair now to say the Harlem real estate blood bath has begun? If you bought in '05-'09 that gurggling sound you just heard was the bubbles, because you're underwater my friend.
Just glad it has a roof on it to prevent damage-- this is an important building In this row of magnificent facades. But please check out the building on the next block uptown next to Mickey's funeral home. No way Landmarks is going to sign off on that.
ReplyDeleteThere could be an upside to that gurggling sound and that is that people who bought without the intention of flipping within a short period of time - but rather bought for the purpose of staying for many many years - really don't care what the short term of the market is.
ReplyDeleteAnd...the upside could be the discouraging of people who are in this to flipl.
AFineLyne, could not agree more. People who bought a home they could afford should not be concerned with being "underwater" - and I'd rather not have speculators driving up prices unecessarily.
ReplyDeleteThis does seem pricey for a shell, given you can't get a mortgage on a shell and then have to finance construction costs out of pocket. A little lower price could attract FHA buyers though ...
Another beautiful building facing Lenox I'd love to see fixed up ...
Summed it perfectly AFineLyne. Guess I'm old fashioned (30s btw ha), but for me a home was something you hoped to build memories around, not to make a quick buck.
ReplyDelete