NOT LISTED FOR SALE

Estimated Value: $1,444,000 - $2,463,070

6 Beds
4 Baths
2,460 Sq Ft
$782/Sq Ft Est. Value

Last Sold August 20, 2021

Last sale price $2,195,000 $892 Per Sq Ft

Est. 12% decrease in value since last sale

Current estimated payment $10,502/month

19 Days on Market

About This Home

As of August 2021

Old world-details meet modern barn house, in the meticulous remodeling of this legal 3-family town home at 525 Hancock Street. It was thoughtfully redesigned to replicate the owner's grandparents' house and is the perfect antidote to the "quick flip" properties that are most commonly seen in the area. Here, period details are celebrated and rejuvenated (not erased). Take a moment to admire the beautiful facade of this nearly 19' wide and 100' lot beauty before entering the garden level of the owner's duplex, and you'll see why. First, find yourself in the proper entry foyer-once coats, shoes and umbrellas go in their proper place-make your way into the bright, open-concept, living and dining room that leads to a glorious kitchen. Admire the gorgeously detailed and tiled decorative fireplace (one of seven in the house) before walking across the lush, walnut-stained floors and past the hammered tin wainscoting and exposed brick. The kitchen melds country charm with modern convenience with light sea-foam green, shaker cabinets for abundant storage, butcher block counter tops and a center island that all sit atop white penny tiles. A full bathroom with equally tasteful design sense sits adjacent to the kitchen. Dine in or take the party directly out back into your leafy and verdant backyard. Did anyone say, "Summertime Barbecue"? Have at it, with a cooking station replete with refrigerator and counter space and grill and entertain until your heart's content.The parlor level has been transformed from three bedrooms to two massive ones and can easily be converted back. The bedrooms are bright and cleverly delineated with period pocket doors, and also include ample closet space and a washer/dryer. Two more impeccably preserved decorative fireplaces adorn the front and rear bedrooms. A windowed full bathroom with claw foot tub and two entrances rounds out this peaceful floor.Cover your mortgage, with two highly desirable rentals located on the top two floors. The third-floor oozes charm and features two decorative mantles, a sizable bedroom, a large study and a separate den-along with ample closet space and a washer/dryer. The entire unit is basked in sunlight and has tranquil views over the rear yard and trees. The bathroom on this level also includes a claw foot tub.Transport yourself to a loft in Paris when you enter the top floor, one-bedroom plus den rental with two decorative fireplaces. Three skylights bathe this unit in sunlight all day long. It also includes a washer/dryer.To say there is nothing like 525 Hancock Street on the market would be an understatement, and the heart and soul that was put into this home is abundantly clear with every turn. Nestled in the heart of Stuyvesant Heights, near all of the restaurants, shops and bars that make the neighborhood a go-to destination, and mere blocks from multiple subway lines, this income earning beauty is must-see.

Last Agent to Sell the Property

MARK MARTOV

Corcoran Group License #10401264653 Listed on: 05/13/2021

Corcoran Group

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1899

Home Design

  • Pre War Building

Interior Spaces

  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Full Bathrooms

Community Details

  • 3 Units
  • Bedford Stuyvesant Subdivision

Listing and Financial Details

  • Tax Block 1655

Property Details

Home Type

Multi-Family

Year Built

Built in 1899

Lot Details

0

Listing Details

  • Cross Street: LEWIS AVENUE and STUYVESANT AVENUE
  • Property SubType: Multi Family
  • Property Type: Residential
  • Neighborhood: Bedford - Stuyvesant
  • Architectural Style: Prewar
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Beds/Baths

  • Full Bathrooms: 4
  • Bathrooms Integer: 4
  • Bedrooms: 6

Garage/Parking

  • Garage: No

Building Info

  • Units: 3
  • Total Stories: 2
  • Year Built: 1899

Tax Info

  • Tax Block: 1655

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2021
Closed on
Aug 20, 2021
Sold by
Guge Ashley and Guge Brett
Bought by
Forman Eric and Hu Caitlin
Seller's Agent
MARK MARTOV
Corcoran Group
List Price
$1,999,995
Sold Price
$2,195,000
Premium/Discount to List
$195,005
9.75%
Current Estimated Value
$1,923,018

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$271,982
Avg. Annual Appreciation
-2.93%
Original Mortgage
$700,480
Outstanding Balance
$633,612
Interest Rate
2.7%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$1,289,406

Purchase Details

Closed on
Mar 11, 2015
Sold by
525 Hancock St Llc
Bought by
Guge Ashley and Guge Brett

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$840,350
Interest Rate
3.6%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 1, 2014
Sold by
Gurley Hezron A
Bought by
525 Hancock St Llc

Purchase Details

Closed on
Feb 12, 1997
Sold by
Salavaria Ian T
Bought by
Gurley Hezron A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,900
Interest Rate
7.78%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Forman Eric $2,195,000 --
Guge Ashley $1,200,500 --
525 Hancock St Llc $635,000 --
Gurley Hezron A $145,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Forman Eric $700,480
Previous Owner Guge Ashley $840,350
Previous Owner Gurley Hezron A $145,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/20/2021 08/20/21 Sold $2,195,000 +9.8% $892 / Sq Ft
06/02/2021 06/02/21 Pending -- -- --
05/13/2021 05/13/21 For Sale $1,999,995 -- $813 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,197 $96,600 $19,320 $77,280
2024 $6,197 $84,360 $19,320 $65,040
2023 $6,266 $85,620 $19,320 $66,300
2022 $6,112 $93,120 $19,320 $73,800
2021 $6,079 $71,880 $19,320 $52,560
2019 $5,379 $69,060 $19,320 $49,740
2018 $5,241 $25,712 $10,414 $15,298
2017 $5,201 $25,516 $8,341 $17,175
2016 $4,812 $24,073 $8,749 $15,324
2015 $2,684 $22,711 $12,394 $10,317
2014 $2,684 $21,427 $11,986 $9,441
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10718174

Real Estate Board of New York (REBNY)

APN: 01655-0076