Sale at 246 Lenox Avenue

my guess is the property is worth 1.3 million max.

i saw the property and can tell you with 100% confidence that the owner and broker are off their rockers on this price. other transactions on lenox have sold for much better values: 192, 195, 240 and 218 lenox. check them out. also this row of houses is very dodgy. i would be afraid to meet the neighbors.

ive never heard so many lies about a house. these people have taken harlem real estate bs to the next level. move over willie suggs. stay away from this property.

why do harlem real estate people feel the need to lie, cheat and steal?? (more then normal real estate people)

these values have no relation to reality.

I was thinking around $1,200,000 to $1,400,000.

> my guess is the property is worth 1.3 million max.

then it's heading for a REO auction. unless a not so smart buyer comes to the rescue.

At auction it would sell for less. There is a 26 foot wide location that was part of a church bankruptcy that is FAR nicer than this place that sold for less than my estimate. I would say it's a $1,100,000 place at auction. After expenses and the mortgage, the owner may not have any equity left. It is a sorry state. I feel bad for these people. Are there any stories of amature developers really growing into successful real estate developers or do they typically end up like this?

I only know of RAL who was an architect for Waldbaum's supermarkets before he reinvented himself into a developer.
Whatever success he has is mostly a product of smoke and mirrors.
If he wasn't dishonest he would have failed honorably.