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May 14, 2007
Residential Sales in Brooklyn
PARK SLOPE $999,000
39 Plaza Street GMAP
1,500-square-foot co-op in a prewar building; elevator operators, dining room, maid's room, Grand Army Plaza view; maintenance $1,667, 40% tax deductible; listed at $951,000 (multiple bids). Broker: Orrichio Anderson.
PROSPECT HEIGHTS $1,230,000
526 Carlton Avenue GMAP
97-year-old, 6-bedroom, 4-story brownstone; double parlor, marble mantels, renovated baths and mechanicals, 20-by-100-ft. lot; taxes $935; listed at $1,350,000. Brokers: Corcoran Group; Brooklyn Properties of 7th Avenue.
Residential Sales [NY Times]
Photo by Kate Leonova for Property Shark
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Comments
The Carlton Avenue was open house pick Dec2005 Listed at about $1.5.
I flinch whenever I see the stupid comments about neg. effect of AY - but this one probably is since directly facing what will be constuction lot for years.
Posted by: Anonymous at May 14, 2007 11:51 AM
agreed -- "atlantic yards effect" is generally an overused concept, but this is a prime example of a property actually suffering the effect. a couple of blocks south and this house is fetching a price several hundreds of thousands of dollars higher.
Posted by: z at May 14, 2007 12:30 PM
i've been noticing quite a few properties in park slope going for well above the asking price in multiple bids this spring.
from everything i've gathered, park slope is super hot again with continous fresh supplies of transplanted manhattanites, while the surrounding hoods of windsor terrace, kensington, ditmas, prospect heights are gaining ever more park slope and other brooklyn transplants.
Posted by: anonymous at May 14, 2007 12:39 PM
Well we know what the AYE haircut is now.
Posted by: Anonymous at May 14, 2007 12:43 PM
"I've been noticing quite a few properties in park slope going for well above the asking price in multiple bids this spring.
from everything i've gathered, park slope is super hot again with continous fresh supplies of transplanted manhattanites, while the surrounding hoods of windsor terrace, kensington, ditmas, prospect heights are gaining ever more park slope and other brooklyn transplants."
Gosh, that's so exciting you've noticed.
You aren't an RE agent by any chance are you? Or a developer? You do sound like a tout.
Posted by: Anonymous at May 14, 2007 12:45 PM
you aren't by any chance an ahole, are you 12:45???
yup, thought so. because your comment was FAR more informative than 12:39's.
Posted by: Anonymous at May 14, 2007 1:04 PM
Whoa, is that Carlton house the light-painted double duplex that Corcoran had? I like that it says "listed at $1.35M" when the original list price was much higher - $1.5M at least. What is that, a 17% drop?
That's a huge, more than even I suspected. It undercuts anon 12:39's newspeak-like observation (chance that 12:39 is broker: 85%), and shows that AYE is real (though I think it will be limited to 1-2 blocks in each direction around the site).
As for the Slope listing, the only reason it went above asking is that Oricchio priced it so reasonably in the first place. $951K is leass than $650psf, and monthly maintenance is reasonable, not much more than $1psf. This is not rich Manhattanites; they are buying condos at 30% higher prices psf. This is just par for the course for a huge apt in an established coop with great views in a great location.
Posted by: Anonymous at May 14, 2007 3:56 PM
i'd say a million bucks for the corner of flatbush avenue and plaza street on the non-park slope side of flatbush (actually prospect heights) is a pretty good sign for the market 3:56.
you can downplay it all you'd like.
anyone who talks about aye as being "real" before it is actually real doesn't do a thing for their credibilty in my opinion.
Posted by: anonymous at May 14, 2007 4:26 PM
Actually this building is on the corner of Plaza St West and Berkeley Pl. Very much on the Park Slope side of the plaza, for what its worth
Posted by: Anonymous at May 14, 2007 8:01 PM
These prices are fresh examples of the way sellers lose out when they go with smaller agencies. Thanks for posting.
Posted by: Anonymous at May 14, 2007 8:27 PM
Umm, I said AYE was 'real' because a house on a prime street in Prospect Heights sold for $270,000 less than asking. I'm looking at a real (and, as noted, unpredicted) effect; I'm not just talking out my arse like the trolls who just randomly comment "AYE" in every post.
And as for the Slope listing, I don't know if it's "a good sign for the market" or not. But $1M for 1,500sf on the Slope side of GAP is not so outrageous. Double the numbers: surely a 3,000sf house would sell for more than $2M in that location. I think it's a reasonable price (reasonable as in "makes sense," not reasonable as in "affordable"). And ultimately, I think reasonable prices are good for all markets.
[Chance that anon 4:26 is anon 12:39: 25%. Chance that anon 4:26 is a recent buyer hoping for quick, steep appreciation so as to have the psychological security of being able to flip in a few years rather than actually investing in a long-term home in Brooklyn: 65%.]
Posted by: anon 3:56 at May 14, 2007 8:44 PM
I wouldn't call the house on Carlton 'prime'. It is one of the last houses before wasteland. It is on one of the few blocks that really will be effected by the construction...and will be decade before the area across street gets built (according to plans).
So it will for 10 years face dusty staging area.
Not prime at all.
A block or 2 away and I would say no problem. Here it will be factor. But for this discount probably worth it.
Posted by: Anonymous at May 14, 2007 9:32 PM
Re: Park Slope listing. I know a couple of people shopping for a 3 bedroom in the Slope and they usually go for over ask. 3 bedrooms are in short supply given the nature of the housing stock, and in an area filled with kids, that's gonna drive up demand incredibly. No surprise it went over.
Posted by: Wendy at May 14, 2007 9:40 PM
"I wouldn't call the house on Carlton 'prime'. It is one of the last houses before wasteland. It is on one of the few blocks that really will be effected by the construction...and will be decade before the area across street gets built (according to plans).
So it will for 10 years face dusty staging area."
Well, Carlton itself is prime for Prospect Heights - a beautiful tree-lined street in the western part of the nabe near all amenities and train stations. But of course this particular block, practically within the construction zone, is the worst block on Carlton.
"But for this discount probably worth it."
That very discount is what people talk about when they say Atlantic Yards Effect. I suspect that, as happens all too often, people are arguing even though they really basically agree.
Posted by: Anonymous at May 15, 2007 2:26 PM
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