A flipped 875 St. Marks (near Children's Museum) comes to market

The pre-flip "this building needs work" original listing:

http://gosenproperties.com/listings/875-saint-marks-ave/

The listing for the individual units, complete with shiny kitchens:

http://www.aptsandlofts.com/featured-developments/the-875-saint-marks-condominiums

Photo:  Gosen properties

According to the StreetEasy listing, the 2 bedroom units solid even before the May 1 open house.

The pre-flip ask was $1.7M.

It looks like they created a total of six units:   three studios (each listing for about $450k), and three 1BRs (each listing for $650k).      So, the total after-flip price is around  $3.3M.

The value of this building was just doubled.

Plus that basement (pardon my typos earlier), which was a 2 bedroom and yard at approx $500k. 7 units.

So, $3.8M

Please imagine me as the NYC Commissioner of Finance as I state "Thank you for your taxes"

http://observer.com/2014/04/bill-de-blasio-names-new-department-of-finance-commissioner/#axzz319cKdbHL

And Curbed is reporting they've received offers for all of the units. http://ny.curbed.com/archives/2014/05/07/crown_heights_condos_sro_owner_bemoans_failed_shelter_bid.php

Fine, I'll change my estimate to $4.2M.

Here's a video that real estate industry made about the sale:

I used to live down the block from here. This block has one of the finest collection of buildings in the whole borough, imo.

And Curbed is reporting they've received offers for all of the units. http://ny.curbed.com/archives/2014/05/07/crown_heights_condos_sro_owner_bemoans_failed_shelter_bid.php

This may have fallen thru.

Some units appear to still be available:

http://www.aptsandlofts.com/featured-developments/the-875-saint-marks-condominiums

We are in contract for unit 1A. Still pending CO and some other paperwork. Hoping to close before year end

Congrats moxerson!

thank you! it's been a long process but i think will be well worth it in the end. will keep you guys updated when we have more news on the building. we are very excited to be a part of this neighborhood. i think a lot of good things are to come

Welcome @moxerson! I'm just the next block over. Hope your closing goes smoothly and you get to soon enjoy the good thing that Crown Heights already is.

I thought a flip was if you did  nothing to building just relisted it as is. Seems like they did a lot here.

I used to think that too, but if that was once the definition, it is not the default anymore.  I read this article recently about home flipping that definitely involves many improvements being made before selling. 

At this point, I believe it means the buyer never lived in it before selling it.

Renovations may, or may not, occur.