After being on the market for less than 2 weeks, a brownstone at 346 West 122nd Street now has a contract out based on an initial asking price of $2.35 million. This home has been in the same family for decades but apparently the estate has been empty for quite some times and is in a state of slow decline.
Record sales of $3 million for a newly renovated home have transpired along the brownstone corridor adjacent to the east side of Morningside Park in the past year and this home does have quite a lot of details. Now if only someone can renovate one of these Harlem brownstones and restore some of the plasterwork at the same time. That would be something new that we have not seen in some times and would also make this a standout as far as original details go. These homes are on the narrower side so all of the small design elements count at the end.
More on this brownstone at the broker site:
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Wow, unbelievable. Needs at least 500K in renovations...
ReplyDeleteWay more than 500k! Restoring original detail is expensive. 500k is light to renovate a whole brownstone even without original detail ..
ReplyDeleteThis is a flip -- a case study in everything that's wrong with NYC real estate. I went to the Open House. The owner is an investor who bought from the estate last November for $1.7M. They did not do a thing to the house -- trash, moldy books, dirty mattresses, broken furniture, plaster debris throughout the house. They didn't even take broom to the place. The original beauty was apparent, but it was dark, damp and you had to step over and around piles of crap -- if the health Department knew the public was on the premises, they would have shut it down! Simply appalling the hubris of speculators. It needs $1M at least -- nothing is to code, leak damage throughout, a lot that was very gross despite amazing original detail.
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