Price Drop: 328 Plymouth Street Townhouse
November 12th, 2007
We posted this townhouse listing on Plymouth Street in Vinegar Hill back in July. It still on the market, but the list price has been reduced from $1,495,000 to $995,000, a half million dollar reduction. Sounds like there were no takers at the original listing price.
A reader went to check out the property and had this to say:
“just a wee bit of a price cut - half a mill worth down to $995k. i checked the place out today and it is a definite knockdown. and the location is absolutely dreadful. don’t get me wrong - i love, i mean love, vinegar hill, but this location is horrible - directly across the street from the water treatment plant, which stinks, the conEd plant is just down the block, and the PJs are around the corner.”
I agree, the location is not great, but quiet. What do you think? Is there potential for an investor who is willing to take a risk to tear down and build a home there (R6-B Zoning)?
{On the Market: 328 Plymouth Street, Vinegar Hill, 25July07}
{NY Times Listing}
16 Responses to “Price Drop: 328 Plymouth Street Townhouse”
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November 13th, 2007 at 11:54 am Rate:
If someone were to acquire it at a bit less. Then build a new two unit bldg. with a tricked out owner’s unit. You would have an excellent roofdeck with views of Manhattan & Brooklyn. Get a back yard. Then your rental unit helps with the mortgage, etc. Could be worth it. The purchase of the bldg, knock-down & construction could be less per sq foot then what is currently on the market in the neighborhhod.
November 13th, 2007 at 2:13 pm Rate:
V.H. - i hear you, but the drawbacks to the specific location of this property just seemed so extreme to me, especially when viewing this place in person. it’s the adjacent water treatment and ConEd facilities that kill this for me - I just can’t get by that, regardless of how nice a place one might be able to put there.
maybe i’m a bit shortsighted on this one, but just my personal feeling.
November 14th, 2007 at 11:12 am Rate:
There don’t appear to be any panhandlers in front of the building…that’s a plus.
November 14th, 2007 at 9:19 pm Rate:
maybe because the panhandlers are inside the building.
November 14th, 2007 at 9:44 pm Rate:
The panhandlers own the building. They bought it with the money that Adam paid them to scrub his dirty peddling feet clean.
November 15th, 2007 at 11:35 am Rate:
did you mean “pedaling?”
November 15th, 2007 at 11:40 am Rate:
: ) Hahahha…Adam strikes again!
November 15th, 2007 at 11:42 am Rate:
I think I’m probably the smartest person on this blog
November 15th, 2007 at 3:40 pm Rate:
It’s a shame we don’t have logins to this site. We’d be spared fake comments like the one above.
November 16th, 2007 at 12:23 pm Rate:
And it would increase the quality of information.
November 16th, 2007 at 11:01 pm Rate:
so true, that is a smart idea, adam! you are smarts.
November 17th, 2007 at 2:39 am Rate:
Adam is typical of the elitist yuppies that have overrun this blog. Lets keep some character in Dumbo.
November 17th, 2007 at 1:20 pm Rate:
i live in a crumbling loft, am car-less, abhor cookie-cutter developments, and avoid chain stores. what does “yuppie” connote to you and how do you figure it describes me?
or did you mean literally “young urban professional?”
which pithy slur could we use to describe you Dan?
this is becoming less and less interesting.
November 17th, 2007 at 9:13 pm Rate:
so typical of a yuppie to point out things in an attempt to argue he’s not a yuppie
November 18th, 2007 at 12:01 am Rate:
The exaggerated protestations of a man who knows he’s guilty
November 18th, 2007 at 1:24 pm Rate:
I see. Well alright, check you guys later. I think I’ll go Beemer shopping today. Conspicuous consumption always makes me feel better.