☞ DWELL: An Affordable Shell in Harlem?

Number 249 West 131st Street just arrived on the market this week for the initial asking price of $599K.  This price is probably one of the lowest ones to be found in Harlem so what are pros and cons of the property?  Location wise, the 17-foot-wide brownstone is about six blocks away from the express trains at 125th Street, has some original details worth saving and less than 2 blocks away from St. Nicholas park.

With that said, the major challenge here is that even though most of the brownstones are intact on the north side of the street, the south side faces the projects.  Another issue at hand is that the building is technically an SRO and the listing does not mention anything about all the necessary certificates needed to get the renovation started.  Any thoughts out there on the pricing of this one? More details can be found on Streeteasy: LINK