Compare Listings

Threshold has a home

Following a couple of delays, and still with a few strings attached, the purchase of my new home and office was finally closed today. I was reluctant to post much about it until I closed, but now its open season. This image is a picture of the front facade of the building. Many of the others I have taken have personal items of current and former tenants, but those included should give you an idea of the makeup of the building.

Currently the upper apartment is vacant. It is in pretty good shape and I will be moving into it tomorrow. The one catch is that the commercial tenant in the lower unit still hasn’t moved. After considerable negotiations, an agreement was made which put money in escrow after closing until the tenant is gone. If they haven’t vacated by Sunday the seller will be penalized and the penalty will increase daily. Hopefully all that goes through without a hitch, but history has prepared me for the worst.

On a more positive note, I hope to have some semblance of an office open by the end of next week. Most of the lower level will be used as my personal living space, but the front area (that’s the rounded room with rounded doors) will be my office. Everything is in good shape overall, but it is going to take about six months to a year to get things where I want them. But after spending the last month of my professional life as a wondering vagabond, I’ll take anything.

Location wise, the building is at 2654 Gravois in the South St. Louis neighborhood of Benton Park West. I’ve been operating nearby in Benton Park for the past year and a half, but this will definitely be a change. Most of Benton Park has been rehabbed, while Benton Park West still has quite a ways to go. Just about all the neighboring commercial buildings are in need of quite a face lift, but I look at this as an opportunity. An opportunity to get in at the ground floor and help improve area.

The nearby commercial sector along South Jefferson has seen quite a revival and I plan on doing all I can to replicate that success. Speaking of which, if you are looking to do a little mixed-use investing or opening a business in South City, I can point you to quite a few building along the strip which would be legitimately good investments. I could always use a few good neighbors.

img

Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn't representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

Related posts

Threshold storefront progress

It's been nearly a year since I moved my company, Threshold Investment Properties, into my current...

Continue reading
Matt Kastner
by Matt Kastner

My NPR story ended up airing nationally

As great as being on NPR was, I was a little bit let down that the story aired only in St. Louis,...

Continue reading
Matt Kastner
by Matt Kastner

NPR interview is now online

I was hoping to have a little more notice, but my interview with St. Louis NPR affiliate KWMU on...

Continue reading
Matt Kastner
by Matt Kastner

3 thoughts on “Threshold has a home”

  • Mike

    August 20, 2008 at 6:45 am

    Congrats on the new space.

    Reply
  • Phil Jarvis

    August 22, 2008 at 7:52 am

    Very cool… And what a view you will have of the cathedral. Congratulation!

    Phil Jarvis

    Reply
  • Matt Kastner

    August 26, 2008 at 1:13 pm

    The cathedral is a rather nice bonus. Its a little weird though. My bedroom faces the main tower and if I look at the right angle I can see it even with the blinds shut. It feels like I’m being watched. Maybe I should get better blinds.

    Reply

Join The Discussion