Last Week's Biggest Sales
The One Main closing is one of a series of recent big deals in the building, according to DumboNYC. 1. DUMBO $3,995,000 One Main Street, 9D GMAP (left) According to PropShark, this bad boy clocks in at 2,477 square feet. Deed recorded 6/5. 2. MIDWOOD $2,509,000 1511 East 7th Street GMAP (right) Two-fam house is…
The One Main closing is one of a series of recent big deals in the building, according to DumboNYC.
1. DUMBO $3,995,000
One Main Street, 9D GMAP (left)
According to PropShark, this bad boy clocks in at 2,477 square feet. Deed recorded 6/5.
2. MIDWOOD $2,509,000
1511 East 7th Street GMAP (right)
Two-fam house is 4,728 square feet and has a garage. Deed recorded 6/5.
3. PARK SLOPE $2,025,000
1 Montgomery Place, Unit 1 GMAP
Originally listed at $2,600,000 almost a year ago, according to StreetEasy. 3-bed, 2.5 bath, 2,162-square-foot duplex. Deed recorded 6/4.
4. FORT GREENE $1,969,000
16 Willoughby Avenue GMAP
Asking $1,969,000 when we had it as an Open House Pick in January. Four-story, 3-family house. Deed recorded 6/3.
5. WILLIAMSBURG $1,665,000
211 North 5th, Penthouse Unit GMAP
Duplex unit in “The Metropolitan” condo was originally asking $1,875,000 last August, according to Street Easy. Unit=3-bed, 2-bath, 1,917 square feet. Deed recorded 6/4.
Photo of One Main by cosentino; photo of 1511 East 7th from Property Shark.
So, if Guest 10:43, you come back to read this, can you tell me if there is a big difference between what one would expect to pay for a 3-family vs a 1-or 2-family four storey townhouse in FG?
If someone can easily convert a 3 to a 1, it seems there should be very little difference in purchase price.
Is this correct?
So, if Guest 10:43, you come back to read this, can you tell me if there is a big difference between what one would expect to pay for a 3-family vs a 1-or 2-family four storey townhouse in FG?
If someone can easily convert a 3 to a 1, it seems there should be very little difference in purchase price.
Is this correct?
response to “Do similar houses with C.of O.s for 1 or 2-family go for more or less in FG generally or is it all about the same thing.
Seems like those who can easily pay 2m don’t necessarily want regular duplex but might want the whole house…”
people who are buying buildings at that cost want the full monty. you’d have to get $4k per floor in rent to make it work financially and you simply cant get that.
a 4 story bldg in manhattan may go for $5m and you get it for 40% of that in FG or other “close” parts of bklyn. you can also fairly easily convert CofO from 3 to 1 family. so if CofO is 3 now and the buyer wants it to be 1, it would be a liability to the buyer and feasibly make property worth slightly less. but again if they are also committing $300 per s.f. to renovate the bldg too, the cost of CofO change is nominal.
The people buying in Midwood probably bought all cash. Not too many of them need a mortgage. There was a home that sold not too long ago in this neck of the woods for 10 million.
Brenda, I wouldn’t call them insane for paying that much though. Living near family and community doesn’t have a price tag. If I could afford to buy at least five of my neighbors out at outrageous prices, I would. I’d then move my parents and siblings in near me.
nope…just tried it…it works…
*****
Is it true that FG us desirable enough that people will pay about 2m for a 3-family which has had a contractor-ish reno? Was that the orig. ask ($1.969) or was it higher initially?
Do similar houses with C.of O.s for 1 or 2-family go for more or less in FG generally or is it all about the same thing.
Seems like those who can easily pay 2m don’t necessarily want regular duplex but might want the whole house…
…just my thoughts…
no, i’m not a renter…am thinking of selling…
****
1:46 – link expired
Not good news for Williamsburg:
http://www.nypost.com/seven/06092008/news/regionalnews/nabes_hit_by_spikes_in_crime_114715.htm
Even with the price cuts, the Montgomery Place apt. still got almost 1000 psf.
I remember when bstoner highlighted that place. I loved it. Glad to see it sell.
Dumbo price…WOW