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October 27, 2007
Open House Picks: Apartments
Park Slope
1 Montgomery Place, #1
3 BR Condo
Sotheby's Int'l
Sun 11:30-1
$2,499,000 GMAP
Dumbo
206 Front Street, #6B
1 BR Condo
Douglas Elliman
Sun 11-1
$828,000 GMAP
Williamsburg
234 North 9th Street
1 BR Loft
Aptsandlofts
Sun 1-4
$619,000 GMAP
Windsor Terrace
30 Ocean Parkway, #5K
2 BR Co-op
Aguayo & Huebener
Sun 2:30-4:30
$519,000 GMAP
Brooklyn Heights
59 Pineapple Street, #2K
1 BR Co-op
Brown Harris Stevens
Sun 12;30-2
$435,000 GMAP
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Comments
With all the interesting units on the market curious why apts and lofts is on two weeks in a row? Are they paying you for this? And they were both in williamsburg....
Posted by: guest at October 27, 2007 8:37 AM
the apartment in the slope for 2.5m is mind bogglingly expensive. And then they throw you a table scrap @ closing "for parking". What on earth?
Posted by: guest at October 27, 2007 9:32 AM
The WT place just shows that you can get a family apartment in a decent area for about $500/psf. I know that exact building -- haven't been in it -- but the outside is well maintained and it's a good location. Good schools (just steps from PS 154), transport and 10 minute walk to PP. Not a ton of amenities in the area but that's why it's (relatively) cheap.
Posted by: guest at October 27, 2007 9:56 AM
I wonder what the mortgage is on these puppies???!!!
The What
Someday this war is gonna end..........
Posted by: guest at October 27, 2007 10:12 AM
wow. $2.5M for a 3BR condo. has Brooklyn jumped the shark? i see absolutely nothing that could justify that price, simply from a common sense perspective. at some point, it just doesn't make sense to pay that sort of money for an apartment with a small kitchen no matter what neighborhood it is in. it's simply crazy.
Posted by: guest at October 27, 2007 10:14 AM
"wow. $2.5M for a 3BR condo. has Brooklyn jumped the shark?"
Nope Brooklyn smoke the crack. Bad times coming Boy's and Girl's.
Wonder what the FED will do this week? If they cut, hello 120.00 barrel oil. Inflation will kill us all. No more of this high priced shit.
2.4 for a 3 bedroom condo, give me a fucking break.
The What
Someday this war is gonna end..
This weekend think about how fucked America is.
Posted by: guest at October 27, 2007 10:19 AM
Montgomery Place was bought for $1.735m at the initial offering in Oct 2006. Hard to see why it would have appreciated over 44% in a year.
Posted by: guest at October 27, 2007 10:27 AM
Why not buy a house in PS for 2.5mm instead of a condo - I don't get the pricing for the PS listing...
Posted by: guest at October 27, 2007 10:27 AM
30 Ocean parkway has been on the market since May and they still want 519k!!! one bigger just sold in there for 410k from Corcoran. good luck
Posted by: guest at October 27, 2007 10:45 AM
I understand completely why busy working couples would choose a condo not a house. Houses are a lot of work and a money pit; even the ones in the best shape take constant maintenance and repairs. We chose a house and love it, but I so totally get it why someone doesn't want a house.
But if you're comparing the size of living space you get for the money I agree about price, wow, so it costs $2.5 million to get an average size 3 BR inside PS 321 now. Tell me again why that school is worth THAT much more money to attend? You can send several kids to private schools for K-5, with what you save buying elsewhere. The unit is nicely finished, but that's a super wide angle lens on the camera and looking past the special effects photography it's quite obvious the rooms are small. The floorplan says 2,162 square feet INCLUDING the terrace which is 497 square feet. So that's 1,665 square feet inside. Not bad for NYC condos, but teeny tiny compared to what you get even in a smaller, one-family 2-story plus garden level size house.
Posted by: guest at October 27, 2007 11:01 AM
Those Windsor Terrace prewar coops are nice, but none of them are worth $500,000+ no matter what the size. Not when you can still get a 2 BR coop on a brownstone block in Park Slope for under $600,000. WT just isn't there yet.
Posted by: guest at October 27, 2007 11:04 AM
"I understand completely why busy working couples would choose a condo not a house. Houses are a lot of work and a money pit"
So buying a condo for more money that it would get for rent.
Gee that's smart. Oh well
The What
Someday this war is going to end.........
I hope soon.
Posted by: guest at October 27, 2007 11:25 AM
Saw the WT place this summer. The second BR is tiny. Both the bathroom and the kitchen need total renos. Nice building, but this unit is priced about $100K too high.
Posted by: guest at October 27, 2007 11:52 AM
brooklyn heights is small, but assuming you could get it for 385ish -- cheap!
what a difference a 2nd bedroom makes. one more 9x12 room and it would be 250 more.
Posted by: guest at October 27, 2007 11:57 AM
my god. the montgomery place condo is GORGEOUS.
i definitely see a couple cashing in on their 2 bedroom in manhattan for this place.
Posted by: guest at October 27, 2007 1:19 PM
i saw the wt place too late this summer and a neighbor told me that there is some astronomical assessment added to the mt..like another 250/motnh or something. so buyer be ware
Posted by: guest at October 27, 2007 1:45 PM
the what - one of the inconsistencies I keep seeing in your rants is that you bring up looming inflation and falling housing prices as if they are related. In fact, if there is widespread inflation, then that should make housing now a good buy, since being a debtor is good when there is inflation, and land should go up with the rate of inflation.
Also high inflation (weak dollar) is associated with an overheated ecomony, so low unemployment and thriving export sector.
Posted by: oe at October 27, 2007 1:49 PM
"my god. the montgomery place condo is GORGEOUS.
i definitely see a couple cashing in on their 2 bedroom in manhattan for this place."
i always get annoyed when people on Brownstoner accuse someone with a positive comment of being somehow connected to the seller...but in this case, could it be any more obvious?
Posted by: guest at October 27, 2007 1:56 PM
yeah, damn those sotheby's brokers trolling brownstoner on a saturday morning.
Posted by: guest at October 27, 2007 2:07 PM
Steam Room in the Park Slope pad?!
Niiiice.
A little pricey but everything looks top of the line. The restoration seems immaculate. Some people like that.
Posted by: guest at October 27, 2007 2:14 PM
The What also goes by "AllenM" for what it's worth (which is very little).
Posted by: guest at October 27, 2007 3:17 PM
2:07 - brokers are brokers, who gives a shit that someone with a GED managed to get an affiliation with sothebys.
Damn right brokers are trolling on a saturday. Do cockroaches or bedbugs ever take a break?
Posted by: guest at October 27, 2007 3:22 PM
2:07 - dontcha think the brokers affiliated with these properties would be interested in this thread? they've gotta be all over it.
Posted by: guest at October 27, 2007 3:24 PM
"the what - one of the inconsistencies I keep seeing in your rants is that you bring up looming inflation and falling housing prices as if they are related. In fact, if there is widespread inflation, then that should make housing now a good buy, since being a debtor is good when there is inflation, and land should go up with the rate of inflation.
Also high inflation (weak dollar) is associated with an overheated ecomony, so low unemployment and thriving export sector."
Go buy a clue.
The What
Someday this war is gonna end............
Posted by: guest at October 27, 2007 3:40 PM
Thanks Allen. Which name does your mother call you - "Allen" or "The What"?
Posted by: guest at October 27, 2007 3:42 PM
well i'm 1:19, not a broker, not affiliated with the property at all, other than the fact that i live nearby and have admired this mansion for years.
so you can continue the crying broker all you want, but you're WRONG.
Posted by: guest at October 27, 2007 3:46 PM
3:46 - do you own?
Posted by: guest at October 27, 2007 3:49 PM
nope
Posted by: guest at October 27, 2007 3:51 PM
The apartment in Montgomery Pl is beautifully done, but the upper floor is not that spacious for a kitchen/LR/DR, and the downstairs is really like a cave. They've done a great job but definitely not worth that money. It's overpriced by more than half a million.
Posted by: guest at October 27, 2007 5:38 PM
The Montgomery kitchen layout looks like those awkwardly placed college apartment kitchens--even if the kitchen itself is high-end. I can't fathom paying anything close to that money for that type of kitchen layout.
Posted by: guest at October 27, 2007 5:59 PM
Some people...probably the person who buys Montgomery Place is coming from Manhattan and isn't terribly interested in a huge kitchen. They will probably be the eat out/take out type and occasionally have some people over for wine and cheese, which is perfect for a kitchen like this open to the living room.
You all really need to keep in mind that in certain buildings in Manhattan, studios are going for almost a million and 1 bedrooms done to this level in the 1.5 million dollar range.
This is expensive, sure...but there will be a buyer for it at perhaps 2.3 or so.
Posted by: guest at October 27, 2007 6:14 PM
6:14 - as someone who is also looking in Manhattan, I can tell you that studios are most definitely NOT going for $1M and 1BRs are NOT going for $1.5M. You are smoking some serious broker dope, my uninformed friend.
Posted by: guest at October 27, 2007 6:40 PM
Yo Chuckle Heads, here is some good weekend reading.
BTW: These condos are way overpriced. Do the math and you will find out 60% of your monthly income is vaporized.
You Want to Know Why You Feel Like You are Struggling Financially?
by Robert McHugh
http://www.safehaven.com/article-8711.htm
The What
Someday this war is gonna end...................
Posted by: guest at October 27, 2007 8:46 PM
Are they f*cking kidding with the $2.5 million on that lame apt? The bedrooms are miniscule and it doesn't even look that nice to me. Who gives a f*ck that it's on Montgomery. I've been following the market for a while, particularly Park Slope where I'd love to buy a two bedroom, and I thought I'd been shocked enough to be immune to sticker shock. But honestly, if that apt. had been listed for 1.5M I would have thought it was too much. Is this really where the market is? F*ck. F*ck f*ck f*ckety f*ck. Long live the What. From his mouth to God's ears.
Posted by: guest at October 27, 2007 8:51 PM
try to find this same space in manhattan for less than 3 or 4 million.
in a blue chip area...
Posted by: guest at October 27, 2007 8:54 PM
yeah we all like brooklyn, but park slope isn't "blue chip" vs the best parts across the bridge and yet @ $1000 per square foot for larger sized places. It gets really old to keep pointing at manhattan as the reason places in brooklyn need to be priced in the millions. Didn't anyone notice yet that the masters of the universe @ wall street are wondering how many will get the axe this year? or that those with 3 million in cash would rather have it in euros now, not the sinking dollar?
Posted by: guest at October 27, 2007 9:48 PM
hello...earth to 8:54...manhattan does not equal park slope. blue chip manhattan especially does not equal blue chip park slope. much as we all love brooklyn on this site.
Posted by: guest at October 27, 2007 9:48 PM
it will sell for near this price.
people, week after week come on here and say brooklyn properties should sell for 100K, but it doesn't happen.
don't you get sick of being wrong?
Posted by: guest at October 27, 2007 10:02 PM
Agreedm 10:02.
I'd love for some of these people to find the hundreds of properties that have previously been trashed on brownstoner for being too expensive and let us know the selling prices.
Somehow I don't think they are on average much more than 10% less than asking price, if that.
Come on...show us the list of all those unsold overpriced homes. Otherwise, is it possible maybe you don't know the market as well as you think you do???
Posted by: guest at October 27, 2007 10:36 PM
I'm waiting for the public records on lots of properties... will let you know. This PS apartment is overpriced by a lot. Put in that money and do a search in Manhattan. You'll be surprised what you can get for all that dough in MANHATTAN.
Posted by: guest at October 28, 2007 12:28 AM
Since the PS apartment broker lady is trolling--don't call your clients at 7 am., it's kind of psychotic, actually.
Posted by: guest at October 28, 2007 12:35 AM
10:36 - all you have to do is go on Streeteasy to see all the overpriced properties that have been LANGUISHING on the market. Not tough.
Posted by: guest at October 28, 2007 9:02 AM
59 Pineapple -- great building but the apartments are MINISCULE. Really need to buy two and combine to make one OK sized (NOT huge) two bedroom -- I've seen it done and it's nice. I've alse seen this apartment -- has a tiny kitchen and only ONE closet. Yes, it's nice to be around the corner from the 2/3 and the building and roofdeck are nice, but anyone with more than three articles of clothing or who likes to occasionally cook something is not going to make it here.
Posted by: guest at October 28, 2007 10:08 AM
11:04, You cannot get decent sized 2 bedroom (over 950 feet) in prime Park Slope (without fudging the area) for under 600K. Please show me such a co-op or condo for sale.
Posted by: cwh812 at October 28, 2007 11:49 AM
"So buying a condo for more money that it would get for rent.
Gee that's smart. Oh well"
Get back on your medications and get a f**king job. We all know you were priced out of the market long ago and are bitter. Move to florida where the market has tanked and you can afford something. We are all sick of your bitching and whining.
The Whatever
Posted by: guest at October 28, 2007 12:11 PM
Wow, I really want to sell my condo in a "blue chip" area of Manhattan so I can buy a condo in Park Slope. Then I can be as self-important as all the other Slopers.
Park Slope is overpriced.
Posted by: guest at October 28, 2007 12:33 PM
and manhattan isnt overpriced?
what isnt overpriced anywhere around here?
I cant even afford to buy a place in crown heights.
Posted by: guest at October 28, 2007 2:02 PM
And San Franciso, Boston, San Diego, Los Angeles, London, Tokyo, Dubai, Sydney, Oakland, Greenwich, Easthampton, Washington, Paris, Seattle, Laguna Beach, Honolulu, Short Hills, Bethesda, Palm Beach aren't overpriced??
Posted by: guest at October 28, 2007 2:14 PM
"And San Franciso, Boston, San Diego, Los Angeles, London, Tokyo, Dubai, Sydney, Oakland, Greenwich, Easthampton, Washington, Paris, Seattle, Laguna Beach, Honolulu, Short Hills, Bethesda, Palm Beach aren't overpriced??"
Actually, prices have crashed in Boston, San Diego, Washington, Seattle, Short Hills, and Honolulu (to name the markets I know about). They are still pricey, but nothing compared to a year ago.
Posted by: guest at October 28, 2007 2:36 PM
the markets you mention, 2:36 have dropped 10% on average. and mostly that was on new construction condos, not core urban areas where people actually live and raise families.
you still can't get a decent place in boston for less than a million dollars either.
my point is...this is new york. it's expensive.
brooklyn is becoming more and more integrated with "new york" or manhattan and as the capital of the world in many respects, it deserves to rank up there with all the other expensive markets around the world.
Posted by: guest at October 28, 2007 3:49 PM
Brooklyn is not Manhattan, no matter what you all think. (Yes, I live - and own - in Brooklyn, so I am not trying to insult the residents.)
Park Slope is overpriced and the listing on Montgomery is so off the wall as to be laughable. Anyone willing to pay that price when there are better, more affordable options in the same area and certainly in other parts of the borough is not making a rational purchase.
Price points are perception and real estate agents are more than willing to create the allusion of value where none exists.
Buyers need to use their heads when determining the price - and yes this is now a buyer's market.
Stop listening to the people who have a direct financial interest in the highest price for guidance on a rational price for any property (read: real estate agents and sellers).
This goes for the neighbors of these insanely priced properties. They too want to prop up a price, as it justifies their buying price and - if applicable - their related and inflated mortgage. Even long-term owners want higher prices as they too are hoping prices hold or rise so they can benefit when they exit the market.
This is a buyer's market. Listing price is a tool to drive price but buyer's should not be intimidated.
Underbid and bargain. Make the sellers work for the first time in over a decade to sell you something of fair value.
Posted by: guest at October 28, 2007 4:36 PM
Re: The Montgomery Place home
It is one of the finest mansions in New York City. It is an architecurally significan gem not unlike some of the mansions on the Upper East Side.
You would have to see to to understand, I suppose, but just take a walk by it. I think you'll understand why the price is high.
It is a duplex that would cost 6 million dollars in a home as significant as this one across the river.
Posted by: guest at October 28, 2007 6:13 PM
I walked by the Montgomery house today and saw at least 3 families standing around outside it at around 1:30...half an hour after the open house ended according to above and all seemed to be scoping the place out. Clearly some people are interested enough at that price to take a look.
Keep an eye on this one and let's see if/when/how much it sells for.
Posted by: guest at October 28, 2007 6:20 PM
6:13 - not 6 million, it would cost 6 BAJILLION across the river.
6:13 - you are a right broker moron pumper. This is an unremarkable apartment in a somewhat architecturally significant building. Guess what, when you live inside the building you don't have much of a view of the exterior.
It's very much more hype than substance. Period.
Posted by: guest at October 28, 2007 6:36 PM
a lot less remarkable apartments have sold for a lot more in this world, 6:36.
Posted by: guest at October 28, 2007 6:41 PM
Right, 6:36 - "in this world", sure. How bout in Park Slope?
Your $6M comment is absolutely meaningless. Sure, a similar apartment on top of the Time Warner towers will cost at least $6M. And a similar apartment in Bed Stuy will cost $500K. So what's your point?
Posted by: guest at October 28, 2007 6:55 PM
6:55 here, I meant 6:41, not 6:36.
I love apples to oranges comparisons.
This apartment would be worth a billion zillion dollars on Fifth Avenue.
Posted by: guest at October 28, 2007 6:57 PM
No, an apartment in the Time Warner Center of this size would sell for 25 million.
And that's why 2 million and change for a 3 bedroom in a landmark mansion is not that absurd.
EVEN though it's Brooklyn.
Posted by: guest at October 28, 2007 6:57 PM
6:57 - you're using the Time Warner Center to justify the price here? That's the most idiotic non-reasoning I've ever heard. Why don't you use the Shanghai market to justify this asking price.
You're making my point for me.
Please tell me you're not that stupid. Please.
Posted by: guest at October 28, 2007 7:00 PM
Some people go to open houses to gawk, not buy. They want to see what is so special about this stupid price. I would bet 6 zillion that the 3 couples were gawkers, not buyers.
Get real on the prices people!
Posted by: guest at October 28, 2007 7:04 PM
Yeah, most families with young kids love to shlep them to look at overpriced apartments they would never buy on beautiful autumn days.
Posted by: guest at October 28, 2007 7:12 PM
Of course I'm not comparing the Time Warner Center to this place.
But I think a lot of you have become severely detached from prices across the river.
STUDIOS at the new Trump Soho begin at 1.2 MILLION DOLLARS.
We are affected by the continuing skyrocket of Manhattan prices.
To ignore that shows me how stupid YOU are my friend.
I'm not saying this will sell...I don't really care actually.
But if I had this to spend, I sure as hell would rather spend my 2.5 million on this place than a 1 bedroom on the UWS.
Which yes...if you look...MANY of the nice ones of this quality ARE.
That is my point.
Posted by: guest at October 28, 2007 7:14 PM
This is Park Slope. The parents are self-obsessed and self-absorbed, so yes they would schlep their kids to an open house just to gawk.
Please post the selling price when it is finally available in 6+ months.
Posted by: guest at October 28, 2007 7:18 PM
But you're not self obsessed or self absorbed for endlessly talking about the property and posting comments on an anonymous blog about how you think it's overpriced???
OOOOOKKKKK
Posted by: guest at October 28, 2007 7:21 PM
So I guess the Saturday Open House Apartment picks are pretty successful...to say the least...
Posted by: guest at October 28, 2007 7:24 PM
those studios in the plaza are actually nice and about 850 sqft. sure, expensive but 1.2mm for 850 sqft in the PLAZA is not a bad deal.
Posted by: guest at October 28, 2007 8:27 PM
well, morgan stanley just lost its CEO and the new CEO is going to come in and make more write-offs and, critically, layoffs.
You don't need to lay off many investment bankers before they grab their wallets with one hand and their balls with another. They all know each other - they play musical career chairs at the bulge bracket firms. One less chair is a problem for all of them.
The other shoe has yet to drop on this thing.. you can kiss making new records per square foot for very average apartments goodbye. People don't NEED to sell they can WAIT it out, but that applies equally well to buyers also.
Posted by: guest at October 28, 2007 10:52 PM
Do you mean Merrill Lynch, by chance?
Posted by: guest at October 28, 2007 11:03 PM
7:14pm - I think you're right, you should use Manhattan comps to value property in Park Slope. By the way, I will gladly sell you my apartment.
Posted by: guest at October 28, 2007 11:21 PM
Does anyone know what the story is on the new building right next door to 1 Montgomery? Is that a private home or a multi family condo? They spent some serious $$$$ on that place.
Posted by: guest at October 28, 2007 11:22 PM
By the sound of nearly every poster on here and especially 11:21, you'd have guessed that everyone bought their home solely as an investment without a thought given to the fact that it's a home, somewhere to raise your family, to share memories and to live life in.
You all act as if it's a stock just waiting to be bought and sold.
It's gross, actually. It never used to be this way.
Posted by: guest at October 28, 2007 11:30 PM
By the sound of 11:30, you think he/she doesn't even think about what price is appropriate to pay for a property. Perhaps he/she has plenty of money from mom & dad and doesn't need to think about a concept as complicated as "value".
Posted by: guest at October 28, 2007 11:51 PM
thank you 11:30pm. no one ever discusses what buyers are looking for to serve their personal needs. i have bought and sold 3 times in brooklyn. each time thought of what our housing needs were and then, secondly, looked at the purchase as an investment. each family is different and different things are important to them.
too many people on this site assume everyone has the same finances/priorites as they do. it is sooo dumb.
Posted by: guest at October 28, 2007 11:54 PM
No 11:30, it never used to be this way.
Nobody used to consider what price was appropriate to pay for real estate. They would just ask the sellers how much they wanted, and then they would pay it. That's the way it used to work. Nobody ever did anything like "evaluate" or "negotiate". The world is completely different now, what with people actually giving thought to what they want to pay.
Are you for real?
Posted by: guest at October 28, 2007 11:55 PM
just now went to the montgomery place listing. it is really nice and do not understand the negative comments.
a lot of people do not want to renovate, and it is expensive to carry a mortgage and rent some where else while doing it. also, many just do not have lives that can mangage a renovation.
it's over $1000 per sq. foot, but, yes it is still cheaper than many places in manhattan, and if you have a couple of kids, you'll save a fortune in private school fees by sending them to 321.
personally, i sold a house in ps last year, so i am not a real ps promoter or anything. but, i don't think that the montgomery place apt deserves this level of trashing.
offer less and see what happens if you are interested.
Posted by: guest at October 29, 2007 12:02 AM
live down the street from the williamsburg listing. was going to stop by today but ran out of time. it's a beautiful building on the outside in a very good location. think that's why brownstoner spotted it. would buy there before windsor terrace in a heart beat. great amenities, close to the city, close to mccarren. it's lovely.
Posted by: guest at October 29, 2007 12:04 AM
You're a republican aren't you 11:55?
Everything is either/or with you.
Couldn't possibly be that someone is interested in BOTH the house as a home and as an investment, could it.
You're too smart for that.
Posted by: guest at October 29, 2007 12:10 AM
You "just now" went to the open house at midnight on Sunday.
Ok.
Don't you mean 12 hours ago?
Posted by: guest at October 29, 2007 12:11 AM
12:10 - are you 12 years old? Your response to someone is that they're a republican? Let me guess - I would say with that depth of intellect ad probable age, you live in Williamsburg.
Posted by: guest at October 29, 2007 8:01 AM
It is amazing that brokers sponsor this site so their listings can be trashed.
Posted by: guest at October 29, 2007 9:12 AM
Don't be so naive, 9:12.
Any press is good press.
No one would have even known about the Montgomery Place listing if not for this site. Now thousands of people know about it and I guarantee you they had a huge turnout yesterday.
I walked by the 5th Street House around 3 yesterday and there were people swarming the home.
Posted by: guest at October 29, 2007 11:25 AM
Hey 11:25. Why don't you just sign in as brownstoner when you ar defending your lame site. thanks
Posted by: guest at October 29, 2007 11:28 AM
I happen to like this site.
11:28...you my friend have some issues.
Can you explain to me why you read and POST on a site you think is so lame???
You might want to see someone about that.
Posted by: guest at October 29, 2007 11:32 AM
Thanks Brownstoner. Defend your cash cow.
Posted by: guest at October 29, 2007 11:43 AM
If you are the kind of person that prefers a coop over a house - let me know. I have a PS 3000 sq. ft. (25x60) brownstone duplex- 14ft ceilings on the parlor floor- dripping with detail- garden and terrace and a 1500 sq. ft basement. I am moving in a year. It's a really beautiful coop.
Posted by: guest at October 29, 2007 12:01 PM
Did anyone else hear that the Montgomery Place received an offer?
I'd be interested in at least looking, if not.
Posted by: guest at October 29, 2007 3:11 PM
Yeah, I heard they got an offer $750K below asking.
Posted by: guest at October 29, 2007 6:31 PM
Wow, really 6:31??
1.75 million would be a good price for that place.
Posted by: guest at October 29, 2007 7:38 PM
Interesting! It doesn't cost $750,000 to send two kids to private school for K-5, that's why the place got a lower offer. And even if I did cost that much I'd still personally opt for a private school. It's always a better education.
Posted by: guest at October 29, 2007 8:37 PM
9:01 - You mean everyone in your little make-believe world?
Posted by: guest at October 29, 2007 9:41 PM
"$2.5M for a 3BR condo. has Brooklyn jumped the shark? i see absolutely nothing that could justify that price"
You don't see inflation?
Posted by: guest at October 31, 2007 2:40 PM
"...if there is widespread inflation, then that should make housing now a good buy, since being a debtor is good when there is inflation, and land should go up with the rate of inflation."
- October 27, 2007 1:49 PM
Hhuuhhh??? A declining (see # of sales) asset is hardly a hedge against inflation. You're mistaking housing for gold or some other commodity or international currency. Being a debtor in the face of inflation is only good if there's a reasonable chance for a ROI and only if you can remain solvent (avoid delinquency) in the mean time. Real home prices are the highest we've seen, and will ever see, in our lifetime ( www.nytimes.com/imagepages/2006/08/26/weekinreview/27leon_graph2.html ). In other words, you'll never be able to recoup your purchase price before you die at today's prices.
Land go up? ROTFLMAO!!!
Posted by: guest at October 31, 2007 3:01 PM

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