Last Week's Biggest Sales
1. PARK SLOPE $2,750,000 205 6th Avenue GMAP When this 4-story, 21-foot wide, 2-family brownstone was House of the Day in June, we wondered if it would get its asking price of $2,725,000. Looks like it raked in an extra $25K — could we call this a bullish sign for the area? Average Reader Appraisal…
1. PARK SLOPE $2,750,000
205 6th Avenue GMAP
When this 4-story, 21-foot wide, 2-family brownstone was House of the Day in June, we wondered if it would get its asking price of $2,725,000. Looks like it raked in an extra $25K — could we call this a bullish sign for the area? Average Reader Appraisal was $2,339,097. Entered into contract on 7/21/10; closed on 8/31/10; deed recorded on 9/14/10.
2. CARROLL GARDENS $2,700,000
87 1st Place GMAP
This ginormous 8,950-sf brownstone was House of the Day back in January, when it’s asking price — which was originally $3,500,000 — got chopped down to $2,975,000. Average Reader Appraisal was $2,389,208. Entered into contract on 4/1/10; closed on 9/2/10; deed recorded on 9/15/10.
3. CARROLL GARDENS $2,238,500
343 Smith Street GMAP
This is the www.gallerythe.org building, a 1-3 family with commercial space on the first floor. According to its ad on StreetEasy, it comes with a 2-car garage and “2 high-end rentals.” Entered into contract on 4/30/10; closed on 8/3/10; deed recorded on 9/13/10.
4. MANHATTAN BEACH $1,807,500
182 Hastings Street GMAP
This, 2.5-story, 2,588-sf building is on a 6,000-sf lot, according to PropertyShark. Entered into contract on 5/24/10; closed on 9/13/10; deed recorded on 9/17/10.
5. PARK SLOPE $1,700,000
628 10th Street, #1B GMAP
This 2,528-sf condo is located in the Iroquois. “This distinctive townhouse-style triplex includes three bedrooms, two full baths and two half baths, a separate entrance, private garden and deck,” says its listing on StreetEasy. Entered into contract on 6/29/10; closed on 8/31/10; deed recorded on 9/14/10.
Photos from PropertyShark.
Comments on this thread are probably dead but I’m going to post anyway:
The widget is always going to underprice because of winner’s curse: The person who actually bought the house was the one who was willing to pay more than anyone else. Thus, the average reader appraisal.
I think the widget takes the average value. Bet the median value is higher and better representative of true values given the number of BHO pricers out there.
I wish the moderator would restore the widget or at the very least explain why it was removed.
“Won’t see anything near peak comps again for the rest of your lives.”
This seems unlikely since you’re projecting over such a large time frame, but I’ll be fun to meet back here 40-50 years from now and see if you were right 😉
Yeah, right.
Lose tons more if you don’t, mopar. Won’t see anything near peak comps again for the rest of your lives. Minimize loss. Can’t be affordable and a losing proposition at the same time. You’ve been warned.
***Bid half off peak comps***
BHO, that’s terrible advice. If we were to sell now, we’d lose tons. If we stay where we are for the rest of our lives, we’ll have an affordable (and beautiful) place to live, work, and garden. I mean, farm.
Sell into the bounce from the first dip!
***Bid half off peak comps***
NYGuy — I mentioned the same idea a few weeks ago about posters owning the guesstimate, but no one seemed interested.
(And I still don’t believe that any one who was actually lowballing on the widget was actually making offers on the property, but if you know of an example I’d be happy to hear it.)
Based on Miss Muffet’s final and parting words, I surmise she has given up on Park Slope and has decided NOT to buy until after her second child is safely in the school of Miss Muffet’s choice. Then they are going to move to a more affordable neighborhood — I think maybe she said they were looking at Prospect Heights, but I can’t recall.
Smart of Miss Muffet.
The widget would have been more interesting if, instead of giving only the average, it gave some other values. Like the 99th percentile appraisal, 85th, etc.
Knowing that a property sold at the 90th percentile or 60th percentile is more meaningful than just relating it to the average appraisal.