Reply To: Auction of 333 carpenter

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fwiw, The county records have it listed as being privately owned. This property is three houses down, was listed as bank owned and was sold recently. http://newburghrestoration.com/?s=375&submit=Search
I recently attended a planning meeting related to a small development adjacent to 375, my property abuts it as well, after which I got into a discussion about 375. The new owner plans to bring it down to two families (currently four) and is ‘guestimating’ renovation costs to be $300k. As usual, the assessments continually are booked way over selling prices, in this case 2x. The city makes the argument that property values are increasing. On paper yes, however, not in reality. None the less, the fact that a buyer is willing to pay 22k annually in taxes is telling. Indeed, these are beautiful houses and are priced absurdly below their intrinsic value. I’ve been involved in kitchen renovations costing $165k.

Cherry

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