Dumbo NYC

Notes from the DUMBO, Brooklyn NY neighborhood


Price Drop: 328 Plymouth Street Townhouse

November 12th, 2007

IMG_0610

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}

Filed in Plymouth Street, Real Estate, Vinegar Hill at 1:10 pm
Comments
  • V.H.
    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.
  • BrooklynLove
    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.
  • CharlesHomet
    There don't appear to be any panhandlers in front of the building...that's a plus.
  • Prof. Harold Hill
    maybe because the panhandlers are inside the building.
  • Jonboy
    The panhandlers own the building. They bought it with the money that Adam paid them to scrub his dirty peddling feet clean.
  • adam
    did you mean "pedaling?"
  • KD
    : ) Hahahha...Adam strikes again!
  • adam
    I think I'm probably the smartest person on this blog
  • adam
    It's a shame we don't have logins to this site. We'd be spared fake comments like the one above.
  • V.H.
    And it would increase the quality of information.
  • rob
    so true, that is a smart idea, adam! you are smarts.
  • Dan
    Adam is typical of the elitist yuppies that have overrun this blog. Lets keep some character in Dumbo.
  • adam
    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.
  • yuppie hater
    so typical of a yuppie to point out things in an attempt to argue he's not a yuppie
  • Tim
    The exaggerated protestations of a man who knows he's guilty
  • adam
    I see. Well alright, check you guys later. I think I'll go Beemer shopping today. Conspicuous consumption always makes me feel better.
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