The 100 East block of Park Avenue only has six buildings and this will be the third in which I will have an active involvement in renovating. I personally renovated 115 East Park, and my clients are currently working on 105 East Park. 119 East Park, though, is a different story. In a nod to my undergraduate days in Boston, I’ve dubbed the building “The Green Monster,” after Fenway Park’s famous left-field wall. Frankly, the building has become an eyesore. It’s been in pretty much the same state since I started work on 115 East Park about four years ago, and in fact, has deteriorated due to shoddy work and some water intrusion. There’s a long, sad story behind the Green Monster, a morality tale, actually, about all that went wrong in the great real estate bubble a few years back, but for now, we are looking forward. The current owners are selling the property for pennies on the dollar, listing it for $150,000. The building is six units, about 4600 square feet, and is in a terrific location for SCAD rentals, or for anyone looking to live downtown. It’s 300 feet from Forsyth Park and projected rents are $800 per unit. It’s a project, no doubt about it, but no more so than 416 E Duffy, which my investors renovated and transformed. It’s hitting the MLS today, and I already have interested parties, but nothing is signed yet, so if you’re interested, let me know and I can share the budget. This one is going to be fun!115 E. Park Ave - Before and After pics
Blogger Matthew Allan is a specialist in Savannah Real Estate, focusing on Savannah's downtown historic districts, including the Landmark Historic District, Victorian Historic District, Thomas Square Historic District, Starland Historic District, Baldwin Park, and Ardsley Park Historic District.
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