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
Great deal, that is a huge house
ReplyDeleteCash only deal too.
ReplyDeleteCash 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.
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