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November 21, 2007

Residential Sales in Brooklyn

820lincoln33.jpg
CROWN HEIGHTS $770,000
820 Lincoln Place GMAP
3,072-square-foot two-family house built in the early 20th century. Sale closed on October 17th. Broker: Fillmore Real Estate.

FLATBUSH $2.19 Million
1708 Ocean Avenue GMAP
2,436-square-foot detached house built circa 1925. One-family house sits on a 37.5x151.5 ft. Sale closed on November 16th.

Photo of 820 Lincoln by Gregg Snodgrass for Property Shark.




Posted by Gabby at 10:41 AM | Comments (11)
Categories: Sales

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Comments

2.1 million on ocean avenue?

what housing market slump?

Posted by: guest at November 21, 2007 11:00 AM

I think the Crown Heights house was good price...

Posted by: guest at November 21, 2007 11:04 AM

Flatbush? $2.whaT?

Posted by: guest at November 21, 2007 11:05 AM

Gosh I wish I owned something down there on Ocean Avenue. $2.19M for a tear down. I couldn't get close to that for my 4200 sq.ft. renovated victorian 10 blocks away (not that I'm selling or want to right now). Who would have thought that investing in a dump in the area next to the temple on Ocean 15 years ago (which would have cost about $60K) would bring such returns? The people who bought down there actually made the best returns of anywhere in Brooklyn.

Posted by: guest at November 21, 2007 11:10 AM

The Ocean Ave sale doesn't reflect the overall RE market in any meaningful way. A portion of the orthodox community is affluent enough -- and has large enough families -- to create tremendous demand for these big properties. My understanding is that most of them sell without ever reaching the open market.

Posted by: guest at November 21, 2007 12:23 PM

Crown Hgts looks like a great value (depending on the condition of the place). So close to train, not far from Park, etc.

Posted by: guest at November 21, 2007 12:32 PM

why dont I ever see floors of these crown heights apartments being sold?

I could afford that.

Posted by: guest at November 21, 2007 1:42 PM

1708 Ocean Avenue is between Avenues L and M. The area is more commonly knows as Midwood than Flatbush.

$2.19M for a tear-down is right. The lot is "only" 37.5 feet wide, narrow for a detached house. But the lot is zoned R6A, and honking wide for a townhouse which could be built with more than 6 times the floor area of the current structure.

Posted by: Xris at November 21, 2007 1:44 PM

isn't Midwood part of Flatbush?

Posted by: guest at November 21, 2007 1:55 PM

Midwood is south of the freight tracks between H and I, Flatbush is north. South Midwood, Midwood Park, and West Midwood are small areas within Flatbush, hence the confusion.

Posted by: guest at November 21, 2007 5:51 PM

We're the new owners of the CH place. It was a bit dirty, but the most of the details are there. It needs a new kitchen, cosmetic work, a roof, and waste water line. We're doing most of it ourselves and think it can all be done for ~ $30K.
The best part was that the rental came with great tenants.

Posted by: guest at December 4, 2007 4:38 PM

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