A 'Short Sale' on Grand and a Lofty Condo on Fulton

This week in GreeneListed we look at two condos on the maket in the southern section of Clinton Hill. One, a "short sale" for $360,000, the other the first resale condo in a loft-like conversion on Fulton Street.

500 Grand Ave. #4B between Lefferts Place and Atlantic Avenue

Bargain hunters looking for properties on the cheap often scope out "short sales."

These are properties where the original owner has defaulted on their mortgage. The lender (the bank) then steps in and offers the property as a short sale to recover some of what the original owner still owes. Got it?

This Grand Avenue condo is in a modest five-story building between Fulton Street and Atlantic Avenue. And while the block isn't the prettiest in the neighborhood — it's next to a lot surrounded by barbed wire and a gas station — it is convinient.

The condo itself is clean, spacious feeling and truly in ready-to-move-in condition. It will appeal to buyers who are reluctant to pay new construction prices.

The condo boasts two balconies at opposite ends. The front of the apartment has a Juliet balcony that's just large enough to step onto, and the master bedroom has a balcony large enough for a couple of chairs and a table.

The livng room is large and bright and has a half-bath. The master bedroom has a walk-in closet.

Pros:

• Trash chute in kitchen.
• Elevator opens directly into unit.

Cons:

• The condo has a washer, but not a dryer. The new owner will want to replace this with a washer/dryer condo or a dishwaher.
• The building is on a semi-gritty stretch of Grand Avenue.

$360,000 (subject to short sale approval; No FHA financing - tax abatement through 2028 included.)

For Showings:
Jacqueline Edwards
Perfect Quarters
212-281-6881
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936 Fulton St. #2A at St. James Place

Fulton Street has never been known as a residential destination, but most of the stores lining the street have several stories of apartments above them.

Indeed, some of the residences lining the bustling thoroughfare are quite stylish. This is the first resale condo to be listed at 936 Fulton Street, which was converted to loft-like condos in 2007.

The exposed brick and high ceilings make the unit feel open and airy. The original owners have moved back to their native Austrailia and left the unit in like-new condition.

The unit has two full baths, two spacious bedrooms on either side of the layout and a kitchen with stainless-steel appliances that is open, but semi-separate to the living room.

The condo has an in-unit washer and dryer, and there is a nook in the hallway for bicycle storage. 

Pros:

• Clean loft-like design with high ceilings and exposed brick.
• Two full bathrooms, lots of closet space.

Cons:

• No outdoor space.
• The common areas of the building need to be spruced up.

$549,000

For Showings:
Laura Denise Milkowski
Brown Harris Stevens
212-317-3662