clock menu more-arrow no yes

Filed under:

How a Brooklyn Townhouse Increased Its Price by 11,744%

New, 12 comments

Mildred Furiya is a patient woman. After buying her home on State Street between Hoyt and Smith Streets in Downtown Brooklyn (or Boerum Hill, it's iffy) for $16,000 back in 1967 she is finally deciding to sell after 45 years. The house, which will need some work, is being listed for $1.895M and would make her a 11,744% profit. Not bad, Mildred! A tidy profit for someone who wants to move into an apartment either in the area or somewhere on the Upper East Side. We suspect that buyers who want to get in on the townhouse game in the area will scoop this one, especially considering the 14 Townhouses development on this block, which were selling for just shy of $3,000,000.
· Holding On Has Its Benefits, and Then Some [NYT]