The (other) Brooklyn Flea

A buyer's vision makes a 'handyman special' townhouse an eventual steal

New York /
Jul.July 22, 2011 04:10 PM

Brooklyn native Margaret Cuonzo at 50 Duffield Street in Downtown Brooklyn.From the July issue: In the current market, home purchases — even at the lower end of the price spectrum — can be just as hairy as commercial real estate deals.
Brooklyn native Margaret Cuonzo, for example, got a steal on her recent purchase of 50 Duffield Street, the three-family Downtown Brooklyn townhouse she is currently renovating. According to city records, she paid $705,000 — “basically, the price of a condo in one of the nicer buildings [in the area],” said Cuonzo, who teaches philosophy at the Brooklyn campus of Long Island University.
But it took nearly a year of wrangling with banks to take possession of the house, despite the fact that Cuonzo is “more than qualified” to buy it, said Jacqui Howard Sicignano, a salesperson at the Corcoran Group who represented the seller.
“I was putting down a big down payment, and still I went through hell,” said Cuonzo, who is hoping to move in this November. [more]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
 Jeff Sutton of Wharton Properties, 25 West 34th Street in NYC (Google Maps)
Jeff Sutton’s Midtown hotel project snags Sonder as first tenant
Jeff Sutton’s Midtown hotel project snags Sonder as first tenant
Carlyle's Kewsong Lee and Jason Hart with 22-22 Jackson Avenue (Carlyle Group, ODA Architecture)
For $85M, Carlyle nabs another LIC resi building
For $85M, Carlyle nabs another LIC resi building
City law protecting commercial tenants upheld on appeal
City law protecting commercial tenants upheld on appeal
City law protecting commercial tenants upheld on appeal
Photo Illustration of Elon Musk (Getty)
Musk could save $2B in California taxes on Texas move
Musk could save $2B in California taxes on Texas move
Dov Hertz lands $442M loan for Sunset Park warehouse project
Dov Hertz lands $442M loan for Sunset Park warehouse project
Dov Hertz lands $442M loan for Sunset Park warehouse project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...