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Traditionally a multifamily market, Bedstuy Condos are making moves
784 Madison Street, Brooklyn, New York Get Directions Click Here Description Photos Maps & Local Schools Print Brochure My Reviews $ Click for current price 2 (1 full, 1 half ) BATHROOMS | 1056 SQUARE FEET JUST SOLD: IN CONTRACT...why did this happen so quickly?  Why are buyers looking for condos?
Bedstuy had a heyday a few years ago... investors came into the area, found older buildlings that were in lis pendis, or behind on mortgages.  Promised buyers CASH deals and easy outs... then gut renovated and pulled out original details and sold the houses at a substantial mark up.  After initial purchases saw the values in the area rise over 35% in a short period, many decidfed to capitalize on that and  the second tier buyers took over.   Many continued to upgrade or improve property, turned nicely renovated bathrooms and kitchens into luxury spaces, landscaped the raw backyards, added architectural details that had been removed, or some brought a very modern and edgy feel to the interior.  These buyers held the property  till the neighborhood values started to rise again and sold.  Value continues to reflect the neighborhoods as they add more services adn new businesses take root, cleaning ... more

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