Price Drop: 328 Plymouth Street Townhouse

328 Plymouth Street, Vinegar Hill, Brooklyn

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}

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