Friday, January 4, 2019

Time Changes Everything

Last night, an ad for this house on North Second Street popped up in my Facebook feed.

The accompanying text proclaimed (capitalization is as I found it):
Invest, Invest, INVEST in HUDSON!
This little City is Big on Art, Antiques, Boutiques and more! Three-story Brick Townhouse awaits your complete restoration, ready for rediscovery as your gracious home, two-family, or think investment as an Airbnb rental. Even better, it also includes an extra 60' x 108' lot that can be built upon for future development/investment!
The asking price for the house and the vacant lots (there are two tax parcels) next to it: $285,000. Or you can purchase just the house for $139,900 or just the vacant lots for $169,900.

This poor house has been vacant at least since 2010. The picture above was taken in 2010. Back then, there was much talk of replacing Bliss Towers with 132 units of scattered site housing, and this house and the double lot next door were eyed as possible locations for some of those units. Tax records show that the two vacant lots had been owned by Hudson Community Development & Planning Agency (HCDPA), but at the beginning of 2010 they were sold for $2,500 each to an entity called North Second Street LLC. In 2008, the house was purchased for $10,000 from Wells Fargo Bank, which undoubtedly had foreclosed on it, by an entity called Little Molly LLC. In November 2009, ownership of the house was transferred to North Second Street LLC. 

Today, less than ten years later, what was acquired for $15,000 is for sale for nineteen times that amount: $285,000.

1 comment:

  1. The front porch on this place looks like it's about to fall. As I walk past it frequently, I move just in case it happens to fall. The owner should make it safe until someone comes along with the many hundreds of thousands of dollars they are dreaming about.