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building at 196 Scholes Street

Started by nibur
over 11 years ago
Posts: 21
Member since: Aug 2010
Anyone know why the apartments change hands so often in this building?
Response by Ottawanyc
over 11 years ago
Posts: 842
Member since: Aug 2011

Seems normal for bburg. Define why you belive this to deviate from norm?

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Response by Ottawanyc
over 11 years ago
Posts: 842
Member since: Aug 2011

Seems normal for bburg. Define why you belive this to deviate from norm?

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Response by NWT
over 11 years ago
Posts: 6643
Member since: Sep 2008

Nibur, all those $0 sales are between the developers and their relatives. They don't count.

There're eight apartments.

Three sold in 2007 or 2008. One of those resold this year. (At a loss, after transaction costs.)

The remaining five didn't sell. Three finally sold last year, one this year, and the last one (2A) still hasn't sold.

So, only one resale in eight years.

They're asking a lot of money for half-floors in a 25' rowhouse. The few thousand dollars worth of appliances are getting old, the project across the street isn't going anywhere, and buyers need to look carefully at what it costs to heat and cool all that unused volume. The second bath in what they're calling the two-bathroom is up in the loft and isn't to code.

No surprise that this was a Scarano project.

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