Kudos to Brush Park Presivation Society for getting 229 Edmund place on the market

[ABetterDetroit]

I thought it had a date with the huge house eating excavator but recent developments are giving it a new chance at renovation.

The longer you look and think at that house it has real possibilities.

A full plate of NEZ abatements is a great way to start.


http://detroit.curbed.com/2017/3/13/...pment-for-sale

[archfan]

I'm delighted another building is saved, but does the city really think someone is going to pay $315K for that? The link below shows the backside of the building has collapsed [[and has some good background):

http://www.nailhed.com/2015/10/the-r...t-mansion.html

[drjeff]

I'm delighted another building is saved, but does the city really think someone is going to pay $315K for that? The link below shows the backside of the building has collapsed [[and has some good background):

http://www.nailhed.com/2015/10/the-r...t-mansion.html

Exactly. That's ridiculous. You can still buy an intact house in Indian Village for that price.

[ABetterDetroit]

Exactly. That's ridiculous. You can still buy an intact house in Indian Village for that price.

Very true but when has what you could get somewhere else ever been relevant in real estate?

This one didn't last long.

https://www.redfin.com/MI/Detroit/30.../home/98436964

[warsaw7]

Exactly. That's ridiculous. You can still buy an intact house in Indian Village for that price.

Why is that ridiculous? This house has a close proximity to both the downtown and the District. Not to mention it is a historic house that sits in a neighborhood on the verge of a massive rehab. I am willing to bet this house will get the $315k asking price.

[mwilbert]

Why is that ridiculous? This house has a close proximity to both the downtown and the District. Not to mention it is a historic house that sits in a neighborhood on the verge of a massive rehab. I am willing to bet this house will get the $315k asking price.

OK. I'm willing to bet it won't. The location is great, but the building is probably worth less than nothing, insofar as demolishing it would cost something. Lots in Brush Park aren't worth $300K yet. Maybe someday.

[archfan]

This one didn't last long.

https://www.redfin.com/MI/Detroit/30.../home/98436964

Yes, but the backside hasn't collapsed on that one.

[SammyS]

OK. I'm willing to bet it won't. The location is great, but the building is probably worth less than nothing, insofar as demolishing it would cost something. Lots in Brush Park aren't worth $300K yet. Maybe someday.

1400 sqf condos at Crosswinds sell for more than $300k and that's without NEZ or land. The Edmond listed for > $3M but not sure what it sold for. I doubt they poured more than a $mil into that one to get it into its current condition.

[ABetterDetroit]

OK. I'm willing to bet it won't. The location is great, but the building is probably worth less than nothing, insofar as demolishing it would cost something. Lots in Brush Park aren't worth $300K yet. Maybe someday.

The thing about stating what some thing is worth you have to have a comp to show what someone paid recently that is comparable. If you don't have them then it's just speculation.

Here is a vacant Brush Park lot on the market now:

https://www.redfin.com/MI/Detroit/29.../home/96727405

[mwilbert]

The thing about stating what some thing is worth you have to have a comp to show what someone paid recently that is comparable. If you don't have them then it's just speculation.

Here is a vacant Brush Park lot on the market now:

https://www.redfin.com/MI/Detroit/29.../home/96727405

And if they get anything close to that for it, then I'll be wrong.

[warsaw7]

And if they get anything close to that for it, then I'll be wrong.

You were saying...

http://detroit.curbed.com/2017/3/16/...nsion-for-sale

http://www.crainsdetroit.com/article...be-complete-by

[Junjie]

You were saying...

http://detroit.curbed.com/2017/3/16/...nsion-for-sale

http://www.crainsdetroit.com/article...be-complete-by

You're comparing new construction and a renovation to a collapsing wreck. But who knows, maybe they will get what they're asking.

[MSUguy]

Now listed as pending.


http://m.estately.com/listings/info/229-edmund-pl

[Gistok]

At those prices, I'm surprised this one hasn't been quickly snapped up... just down the street from the Manoogian mansion, and next door to the "Castle".... for "only" $285K. Historic and in "move in" condition... and on a canal.... ops... almost a canal...


http://www.estately.com/listings/inf...imilar-listing

[Richard]

At those prices, I'm surprised this one hasn't been quickly snapped up... just down the street from the Manoogian mansion, and next door to the "Castle".... for "only" $285K. Historic and in "move in" condition... and on a canal.... ops... almost a canal...


http://www.estately.com/listings/inf...imilar-listing

Wow ... and at $4800 in taxes per year non homestead is comparable elsewhere where the house would be at least double the price.

It seems like the Manoogian mansion is kinda in a commercial district? Or was that the heckler.

[Gistok]

Wow ... and at $4800 in taxes per year non homestead is comparable elsewhere where the house would be at least double the price.

It seems like the Manoogian mansion is kinda in a commercial district? Or was that the heckler.

In case you didn't know this property was a Bed & Breakfast for quite some time.

[Richard]

In case you didn't know this property was a Bed & Breakfast for quite some time.

Ahh Blanch house inn

I do not get the ,up against the canal but the excess is through the carriage house down the street,so originally the property included the main house and the carriage house?

[Bucket]

Brick construction Second Empire Victorian mansions in a revitalizing neighborhood < 1 mile from Campus Martius are an asset in extremely short supply. Not at all surprised this got snapped up. A recent sale of a comparable restored Brush Park Second Empire Victorian is 97 Winder which recently sold for $2.4 million.