Tuesday, January 16, 2007

Finding a Town House for Under a Million

PEOPLE interested in buying brownstones or town houses should not assume that all of the bargains are gone. Brokers say there are still properties in New York City that cost less than $1 million, but only if buyers are willing to venture into often overlooked neighborhoods and tolerate extensive renovations.

“You can still get a lovely brownstone in Bedford-Stuyvesant for well under $1 million,” said William S. Ross, executive director of sales for Halstead Property in Brooklyn. “The market begins around $650,000 to $700,000 for a real four-story brownstone.”

Because brownstones in Bedford-Stuyvesant and Crown Heights have been less appealing to renovators than those in Brooklyn neighborhoods like Park Slope and Carroll Gardens, many still have original details, Mr. Ross said. These often include fireplace mantels, tall parlor windows and high ceilings.

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