Last Week’s Biggest Sales

1. PARK SLOPE $5,203,550
19 Montgomery Place GMAP P*Shark
A big sale on Montgomery Place. When this was a HOTD in February we said: “It’s not everyday you see a 30-foot-wide single-family house hit the market, as this one at 19 Montgomery Place just did. Given the prime Park Slope location and architectural pedigree (designed by C.P. H. Gilbert), the price tag on this one ain’t small: $4,750,000.” Looks like there was a huge demand. Entered into contract on 3/19/12; closed on 6/5/12; deed recorded on 6/19/2012.

2. PARK SLOPE $2,350,000
104 Berkeley Place GMAP P*Shark
When this was HOTD in January, we lamented over the two crappy interior photos in the listing. We had no way to know if the home was worth the $2,500,000 asking price. Entered into contract on 4/6/12; closed on 6/6/12; deed recorded on 6/22/2012.

3. BROOKLYN HEIGHTS $2,301,245
360 Furman Street, #836 GMAP P*Shark
The listing’s been pulled for this condo sale at 1 BBP. Entered into contract on 4/23/12; closed on 6/1/12; deed recorded on 6/21/2012.

4. BOERUM HILL $2,200,000
278 Hoyt Street GMAP P*Shark
An OHP this March. The single family home was listed for $2,300,000. Entered into contract on 4/25/12; closed on 5/31/12; deed recorded on 6/18/2012.

5. PARK SLOPE $2,200,000
489 3rd Street GMAP P*Shark
Another HOTD, this time in January. Here’s what we said: “The house as a whole appears to have plenty of original detail as well as an attractive general vibe. The 22-foot-wide property is currently configured with two floor-through apartments over an owner’s duplex.” It was asking $2,450,000. Entered into contract on 4/10/12; closed on 6/4/12; deed recorded on 6/19/2012.

4 Comment

  • Hey BHO, are you out there? What do you make of these prices dude?
    Really impressive to us but not sure what others think. Brownstoners do you folks think were are close to pre-cash levels or even higher??

  • Brownstone Brooklyn is looking more and more like some of the areas in Silicon Valley, I think. Demogaphically, anyway. As more high tech jobs move to NYC (and specifically Brooklyn with the new Applied Sciences school for NYU as well as the large influx of tech tenants in Dumbo) the area is just becoming more and more desirable, it seems. It doesn’t necessarily mean it’s a bubble (since I don’t believe all areas of NYC are moving up like this) but it means specifically these locations are becoming more and more appealing to a certain set of people able to afford 2-5 million dollar homes. It doesn’t take many buyers with such low inventory either. If you go to Queens or even upper Manhattan, prices are not moving up like they are in the popular neighborhoods of Brooklyn, close to transportation and new high paying jobs. It leads me to believe it’s something about the combination of quaint while still being close to “the city” that makes for a perfect combination for many upwardly mobile people. They used to go to Long Island, New Jersey and Westechester…now they go to the Heights, Cobble Hill, the Slope and Williamsburg.

  • Prospect Perk–I believe you are right. The suburban flight of the past generation of upper middle class families has slowed or even reversed. Brownstone Brooklyn appears to be a major beneficiary.

  • I feel as though suburbs has become a dirty word almost. Sure, tons of people do it, but seem to hold their nose through the process. I could name family after family who moved to the suburbs (mostly in New Jersey) only to regret their choice later on. Many never move back to the city simply because they’ve now been priced out. The suburbs have become much more affordable during this last crash (you can get a pretty decent house for 500K) within an hour commute of NYC but still many would rather tough it out in a 2 bedroom here and have all the conveniences and culture of the best city in the world at your footsteps. Plus getting to live near your friends when you’re raising kids (without having to drive) is more pleasurable than you could know when the comparison is a life of solitude out in the burbs. Especially for the wife, if she’s a stay at home.