Brick Underground paid an in-person visit to a multi-family brownstone in Bed-Stuy that's taking an ambitious leap. A buyer, identifed as an anonymous Brooklyn real estate investor, closed on 196 Hancock Street on February 18 at a price of $1,200,500. Thenwait for itjust three days later, he listed the 1899-built, four-story home for a whopping $1.85 million. That's a whopping 54 percent markup; of course, historic details are all fine and dandy and the short-lived owner is making some improvements, but three days does not a top-to-bottom renovation make. BU has more photos, an evaluation of the townhouse's condition, and more information about the two rental units. Is it the most egregious flip ever? Or just the Brooklyn townhouse market these days?
· Listing: 196 Hancock Street [Halstead via StreetEasy]
· Flip or Flop: The Price For This Bed-Stuy Townhouse Spiked $650K in Three Days. Is it worth it? [Brick Underground]
· Brooklyn Townhouse Roundup archive [Curbed]
· All Flipping Out coverage [Curbed]