Last Week's Biggest Sales
1. DUMBO $2,000,000 100 Jay Street #30A GMAP (left) This 1,711-sf, 2-bedroom in the J Condo was first listed for $2,290,000 a year ago, according to StreetEasy. Its seller purchased the unit for $1,899,000. Entered into contract on 11/17/09; closed on 12/21/09; deed recorded on 1/8/10. 2. PARK SLOPE $1,950,000 457 9th Street GMAP (right)…
1. DUMBO $2,000,000
100 Jay Street #30A GMAP (left)
This 1,711-sf, 2-bedroom in the J Condo was first listed for $2,290,000 a year ago, according to StreetEasy. Its seller purchased the unit for $1,899,000. Entered into contract on 11/17/09; closed on 12/21/09; deed recorded on 1/8/10.
2. PARK SLOPE $1,950,000
457 9th Street GMAP (right)
When this 3,700-sf townhouse was an Open House Pick in May, it was listed for $2,145,000. Entered into contract on 12/17/09; closed on 12/17/09; deed recorded on 1/6/10.
3. MANHATTAN BEACH $1,645,000
175 Exeter Street GMAP
This is a 2,122-square-foot house, per Property Shark. Entered into contract on 10/12/09; closed on 11/24/09; deed recorded on 1/7/10.
4. PARK SLOPE $1,570,000
570 10th Street GMAP
This 3-family townhouse was first listed for $1,875,000 a year ago, according to StreetEasy. The price was cut several times until it was finally asking $1,640,000. Entered into contract on 11/18/09; closed on 12/23/09; deed recorded on 1/7/10.
5. COBBLE HILL $1,550,000
60 Wyckoff Street GMAP
This 3-family was listed for $1,950,000 in May, according to StreetEasy. Entered into contract on 10/20/09; closed on 12/23/09; deed recorded on 1/8/10.
457 9th St. photo from Property Shark.
PARK SLOPE so interesting .
37 real sales
32 in contract
108 apartments is not 100% sold
still looks like units are moving
looks like new asks are about $500psf vs 6-700psf before.
if you write a nice contract that ensures you’re moving into an occupied bldg these new buyers will probably do well.
units moving at oro and toren, too
Was referring to the original incarnation of Forte, 11217. I’m pleased with your “news” because 100% would obviously mean significant price whacks. Volume is my friend because it forces mark to market.
***Bid half off peak comps***
Can something be considered “way overpriced” if it’s already been bought?
Obviously it was perfectly priced for the people who purchased the home.
The square footage for 457 Ninth Street is WAY OFF!! This is a very Shallow house. I know it well. It is only about 2800 square feet (as listed in Propertyshark). SO the price per square foot changes CONSIDERABLY!! Therefore, YES it is WAY overpriced.
BHO:
You’re not going to like this news, but it appears that due to the recent Pricechops, nearly 100% of the Forte units have gone to contract in the last 2 weeks…(look under “recent activity”)
http://streeteasy.com/nyc/building/forte-condo
If the ones “in contract” all close, looks as though there are 3 active listings left.
Can’t use that one as an excuse for much longer it looks like.
i love a thread where i agree with DIBS and 11217. Benson, is already my hero, so need to gush over him.
miss muffett – i actually may just go out and find you a house, so you stop saying whatever it is you usually say.
i have a few undeniable talents – 1 is mixing drinks (a gift from god that i can’t explain) and the 2nd is finding the perfect piece of property. i am considering taking on the Muffett. more to follow.
*South Slope comps are down from peak (see Ledbury).
*Mortgage rates will increase significantly (nowhere to go but up) to attract foreign debt purchases.
*Comps have to pass through -16 to -20 percent to get to negative fitty. Dis aint ovah!
*Brownstones and condos are correlated apples & oranges.
*DIBS’ Chicago example is in gross terms. He won’t tell us how much $ he dumped into it. Net gain much less than 133%. Annihilated by flips of the recent past.
*I can’t get enough of Muffy’s comments. She fuckin’ rocks!
***Bid half off peak comps***
b-
i don’t see good comps in your buildings and wonder how you arrive at 10-15%. only smaller ones in your bldg traded near peak and none of those have turned though one is for sale. the bigger units are selling well above original sale level but that is not a particularly relevant number imo (except to explain how folks leveraged into bigger ppty). also beware that big unit is in contract for a suspiciously long time.
look at others i’ve noted in past.
more like 20-25% off peak.