Lafayette Ave shell on market

88 Lafayette, pictured at right, is now on the market for an astounding $1.4MM via Brooklyn Heights Real Estate and broker Danielle Mosse (formerly of Harbor View Realty). The owner of this house has long been the bane of current owners of the townhouses on Lafayette between South Portland and South Oxford. The townhouse used to be inhabited by squatters a few years back and then was rented out, but in recent years, an absentee owner has had delusions of grandeur. He attempted to gut the townhouse, which released an astounding amount of rats into the townhouse west of it. Another winter, the pipes burst in his basement, which flooded both townhouses on each side. Other design ideas included putting a glass curtain at the back, to take advantage of the sunlight.

Conservatively estimating renovation costs of $250,000, this townhouse will cost the owner $1.7MM dollars. Keep in mind that there are probably a laundry list of unpaid fines on the house. A higher end renovation would make final cost about $2MM. The stately Italianate on the NE corner of South Portland and Lafayette changed hands for $2.1MM in 2005, I believe.