Sale at 868 Metropolitan Avenue #1B ALARMING Info

The 2010 buyers paid the sponsor $486,720, including the transfer taxes.

They were the ones who sued the sponsor.

In 2012 the sponsor bought it back from them for $542,218, again including transfer taxes. In return, they dropped their case: https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=jw6XGvdvyHoNXPGntZdPHQ==&system=prod

A year later and the sponsor's flogging it again, asking a mere $950,000.

Since Corcoran's listing it as three bedrooms and three baths, it's turning up in all the too-good-to-be-true searches. The text description reveals the catch: two of the bedrooms are cellar spaces you wouldn't keep a dog in, and two of the baths are half-baths, all the city will permit in a cellar.

The infamous Scarano was the architect.

Judging by that first photograph, it has a garage! Oops, what the hell is that space?

It's the space labelled "Backyard lower level" on the floor plan. Note the showerheads in the ceiling, gratings to the upper backyard, drainage trench in the floor, and gas firepit.

In the upper backyard, the HVAC compressor right outside the LR window is a nice touch.

I would usually say that you shouldn't get so excited about a lawsuit with a new construction - but this one seems to hone on this unit which is not comforting, but still in new buildings, stuff happens (usually involving water) and is hopefully sorted now.

Irrespective of that, I think the bigger factor in pricing is pointed out by NWT. It is very hard to properly value these basement units.

Also, the location is not the best. It's probably a good 20 minute walk or so from the park and 30 from the water.

The developer must be laughing though.

Wait! I know this place!

If it the one I remember, then watch out for the alligator pit on the sub level. When I went through this place ground water seemed to be emerging from everywhere. Quite seriously, there are no alligators - but its not a matter of where they will come in, it is when - looking at the above comments; if the developer has made a 142% profit on this place since first sell(and clearly stands to make more without doubt), then he must have fixed up all of the inherit defects this place surely has on its lower level - no moisture barrier perhaps - tough to install the membrane now that the place is alledgedly finished.

If you have you're heart set on living in (yes, actually in) a Floridian Swamp - then this is the place for you!