Brownstoner is tracking the step-by-step progress of a brownstone renovation in Bed-Stuy. The owner financed the purchase with a 203K loan, which allows you to borrow more from the bank by estimating what the house will be worth once it's renovated; in this case, the buyer also only had to put down 3.5 percent for a property with two rental units and an owner's duplex. The former will be renovated; the latter gutted. And the gentrification watch continues. ['Stoner; previously]
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