Residential Sales in Brooklyn

The Bed Stuy unit is a nice buy!

Posted by: guest at October 22, 2007 11:41 AM

400K for a 1 bedroom in Bed Stuy is a good deal now?

Yikes.

Given it was on the market 6 months, I'm not sure everyone thinks so.

This place would have been 60K 5 years ago.

And the neighborhood is not 340K better.

Posted by: guest at October 22, 2007 12:00 PM

The Boerum Hill house was originally listed for $1.375M 2 years ago! Ouch!!

Congrats to the broker for unloading that POS, although "$1.3M, on market 3 weeks" is kinda funny.

Posted by: guest at October 22, 2007 12:02 PM

The DeKalb place is surrounded by boarded up buildings and vacant lots. It's a real wasteland part of Bed-Stuy.

Posted by: guest at October 22, 2007 12:17 PM

How long ago were the sales that are listed here? In other words, since most closings take about 3 months, are these about 3 months old as far as when they had an accepted offer on them? Just curious...

Posted by: guest at October 22, 2007 12:32 PM

While no one wants to may higher taxes, would a couple hundred extra $/month in taxes on a $1MM plus building really cause it to sit on the market? I'd guess other factors were at play.

Also, above description is wrong: it's a 20x40 house on a 20x100 lot (not 40x100 lot)

Posted by: guest at October 22, 2007 12:45 PM

Why in god's name would someone spend 395K for a 1 bedroom in Bed Stuy, when you can get an entire house in the hood for 600-700K.

I know, I know...some people have a limited budget, but it makes no sense.

That part of Bed Stuy sucks.

Posted by: guest at October 22, 2007 12:52 PM

"...and security system."

I love it. Only in a Bed Stuy listing.

Posted by: guest at October 22, 2007 1:03 PM

"Why in god's name would someone spend 395K for a 1 bedroom in Bed Stuy, when you can get an entire house in the hood for 600-700K."

Why would you spend an entire 600-700K for even a house in that locale? I guess blind faith in the main stream media and in conflicted interests (i.e. Corcoran). It's so sad that people don't see a 25 to 50 percent correction on it's way, the upper loss limit for fringe areas like Stuy.

Posted by: guest at October 22, 2007 1:20 PM

The Dekalb lofts have been on the market at least as early as Feb. 2006. I recall looking at them then. I liked the lofts but, if i'm not mistaken, the closest train is the G and that's about 4 or 5 blocks away. Also there were no elevators and that was a problem for me.
http://www.corcoran.com/agents/listings.aspx?Region=NYC&userid=DEKALB&ndevid=110

Posted by: guest at October 22, 2007 1:21 PM

Don't quite understand the "ouch". They asked $1.375 mm and got $1,325 - 96% of ask. If a seller doesn't have a compelling reason to sell (i.e. they want to move or lost a job) they don't have to. Also, if they don't like the price they can rent the house out and re-market later.

Posted by: guest at October 22, 2007 1:22 PM

Does it matter "WHY" someone would pay that amount for an apartment? The point is someone "DID" pay that amount, and I'm sure they are happy the have done so. Do people have such insecurities that they have to find ways to show others that they are smarter, wiser, more investment savvy?

All that matters is, if you wouldn't buy it, fine. So go buy what you would buy. And let the others buy what they wish.

Posted by: guest at October 22, 2007 1:26 PM

the point of this blog is to discuss the properties, 1:26.

if all you want to talk about are rainbows and puppies, you might try another site.

sorry these comments offend you so much.

this is what we do here. talk about the properties, their prices etc.

Posted by: guest at October 22, 2007 1:42 PM

Kinda hard to tell from Corc. site what was actually sold. they're listing 800 or so sq. foot places at the DeKalb building for $340ish. If this one is including a roof deck as living space, then the price seems a bit high to me. However, this is about as cheap as you'll find in Bklyn for this much space and still be w/in a reasonable commute. That's about $400 psf. Also dunno if maint. includes taxes but if so that's dirt cheap.

Posted by: guest at October 22, 2007 1:52 PM

I read this blog fairly often, and I read all kinds of comments about what everything is worth or isn't worth. Here're my limited experiences: I've bought two pieces of real estate in NYC. One was a condo in Chelsea, back in the mid '90s, and the other was a Center Slope brownstone in 2002. When I bought the place in Manhattan, people told me I was crazy. It increased significantly and I sold it. When I bought the Park Slope brownstone for $1.25-million (using profits from the Chelsea condo for a down payment -- no help from Mom and Dad, no trust fund, no job on Wall Street), people told me I was nuts, that I'd be too reliant on renters, that I'd be putting myself in a precarious situation. I didn't completely disagree, but I was in love with the building. What else could I do? Renters have helped out with the mortgage, one tenant has been with me since the get go, and, well, you know what's happened with brownstone prices. I'm not bragging, but I'm just making the point that when it comes to buying a house or apartment, people do what seems right to them, and they hope it works out. Sitting on the sidelines and commenting on buyers being foolish? Well, we're all entitled to our opinions, but I think everybody does what seems right for them, and, sooner or later, in this city at least, things seem to shake out on the upside. It's weird to throw out negativity without knowing all the facts. Just my two cents.

Posted by: guest at October 22, 2007 1:55 PM

"if all you want to talk about are rainbows and puppies, you might try another site."

LMFAO!

Posted by: guest at October 22, 2007 2:05 PM

Doesn't matter, 3:46, it's still a ton of money for that part of the ghetto.

People like you are partially to blame for overinflating these prices.

You do have some concept of what 400K is, right?

Go walk by this area and tell me if you'd pay 400K for ANYTHING over there.

Posted by: guest at October 22, 2007 3:55 PM

Well....I am a black woman and I plan on buying in Bed Stuy and I see the beauty in the area...I am happy that some of you choose not to live in the "ghetto" because I would prefer not to live around people who are clearly undercover RACISTS like you are..I have a ton of white friends who are either moving there or who have already bought property and these are the kinds of people I want my kids growing up with....

Posted by: guest at October 22, 2007 4:06 PM

Stop bashing Bed-Stuy. I would rather live there than pay money in other sections of the highly overpriced sections of Brooklyn.

Park Slope is a prime example of an overpriced area. The influx of condos coming to 4th Avenue and the Atlantic Yards complex will ruin a borderline obnoxious neighborhood of self-congratulatory fools.

Posted by: guest at October 22, 2007 4:09 PM

4:06...stop crying racism.

what a fool you are.

there are plenty of ghettos with nary a black person around.

get over yourself.

chelsea was/is a gay ghetto. the lower east side was a jewish ghetto.

you are projecting your own self esteem issues on the term ghetto. obviously you've got some issues to work through.

stop being so ignorant.

and for god's sake stop crying racism.

Posted by: guest at October 22, 2007 4:12 PM

"I would rather live there than pay money in other sections of the highly overpriced sections of Brooklyn."

Good for you.

Posted by: guest at October 22, 2007 4:13 PM

4:09, can't afford Park Slope huh?

Your jealousy is so transparent.

Posted by: guest at October 22, 2007 4:15 PM

A neighborhood is not overpriced if people buy the properties, 4:09.

You sound like you're in high school.

Park Slope has one of the lowest inventories in the city and some very high prices as well, as you've noted.

So clearly some people like it.

Posted by: guest at October 22, 2007 4:21 PM

4:21 and 4:15. Pull your heads out of the sand.

Park Slope is overrated, as are the prices of the housing stock. The inhabitants are rude and have a baseless sense of self importance.

It is full of homeless people, dog crap and strollers.

As of you, 4:12, the comment at 3:55 did imply racism and 4:06 was right to call them on it. The reference was to "the ghetto" and how it was not worth the price paid for the condo, which implied a racial tinge. Would someone say that about a gay or jewish ghetto? Doubt it.

And who calls Chelsea a ghetto? And the lower east side isn't a jewish ghetto either. Your assessment of those areas is painfully outdated. Do you get around much or are you too busy patting yourselves on the back for living in a lily white bubble?

Posted by: guest at October 22, 2007 7:29 PM

Yes, I am amazed at how much negative impact strollers have on property values and quality of life.

7:29 - If you are so death;y afraid of dog poop, how do you survive in this city? Personal jet pack?

Posted by: guest at October 22, 2007 7:43 PM

lower east side WAS jewish ghetto.

learn how to read and get back to me.

Posted by: guest at October 22, 2007 8:17 PM

Sorry, but labelling Chelsea as a "gay ghetto" is hardly the same as talking about an ecomomically deprived area usually populated by one group of people who cannot afford to, or are not allowed to, live anywhere else.

Posted by: guest at October 23, 2007 11:41 AM

8:17, the lower east side was a ghetto DECADES ago. What planet have you been living on?

Stollers do effect quality of life if you can't walk down a street or an aisle of a store without constantly being confronted by self-absorbed parents who do not possess any manners.

Park Slope is overpriced and the soon to be glut of housing due to the re-zoning of 4th Avenue will make it worthless.

Posted by: guest at October 23, 2007 1:32 PM