Tuesday, August 05, 2008

322 12th Street fenced.

Tear Downs @
$188 per buildable foot
Looks like another wood framed 25 footer is about to meet its maker. New building permits for 322 12th Street are on the books, and the plywood fence is up, signaling that the demo is on the way.
Seems the property changed hands in February of this year for $1.23 million?
Back on November 2007 when 322 was for sale, Brownstoner.com posted a story about a bidding war breaking out at the open house, driving the price up 25% over asking. Here's the link. There are something like 99 comments to look back through. Always interesting to see the different mindsets at work. In the end all the discussion points about the potential renovation costs are moot. Developers are lovin' these 25' wide lots. That extra 5 feet of width is the kiss of death for these old stick built 1 and 2 family homes. They're going quickly all over the R6B zoned South Slope and Green Wood Heights. Another tear down on the block, 314 12th Street, recently sold for $1.35 million and has already "broken" ground.

Architect for this project:

4 dwelling units

Looks like another 50' tall, 4 story with mezzanines, type of a building is coming your way.

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