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December 7, 2007

Residential Sales in Brooklyn

50leffertsave1207.jpg
LEFFERTS GARDENS $280,000
50 Lefferts Avenue GMAP
1-bedroom, 1-bath, 715-sq.-ft. co-op in a prewar building; part-time doormen; renovated kitchen with stainless steel appliances, high ceilings, hardwood floors, south and west exposures; laundry and live-in superintendent in building; maintenance $484, 45% tax deductible; listed at $275,000 (multiple bids), 20 weeks on market (broker: Citi Habitats New York)

PARK SLOPE $2,080,000
86 Garfield Place GMAP
2-family, 3-story brownstone; 3 bedrooms, 2 baths, dining room, den in primary unit; 2 bedrooms, 1 ½ baths in simplex; high ceilings, oak floors, tin ceilings, original moldings and detail in each; 18-by-100-ft. lot; taxes $3,116; listed at $2.329 million, 4 weeks on market (broker: Aguayo & Huebener)

EAST WILLIAMSBURG $455,000
57-59 Maspeth Avenue GMAP
One-bedroom, one-bath condo, 779 square feet, with dining area, new kitchen, central AC and terrace; building features roof deck and elevator. Common charges $169, taxes $10 (25-year abatement). Asking price $490,000, on market one year.
Broker: Sonya Spitznas, The Developers Group.

First two items from The Times; third item from The Post. Photo by Nicholas Strini for PropertyShark.




Posted by Brownstoner at 10:30 AM | Comments (15)
Categories: Sales

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Comments

Wow, the folks at 86 Garfield must have been anxious to get rid of the place. A quarter of a million dollars below asking after only 4 weeks on the market!

Posted by: johnife at December 7, 2007 11:02 AM

wow. i loved that garfield place home.

2 million ain't a bad deal.

Posted by: guest at December 7, 2007 11:02 AM

Garfield Place was on the market for longer than 4 weeks. I went to one of the open houses and then followed it. The house was cute on the outside, but needed a LOT of work on the inside. It was broker-owned/flipped.

Posted by: guest at December 7, 2007 11:13 AM

"Wow, the folks at 86 Garfield must have been anxious to get rid of the place"

A&H has a reputation of pricing under market to create excitement and competing bids. If the listed it at 2.3 they thought it would go for at least that. Perhaps the explanation is that, you know, perhaps: THE MARKET HAS RETREATED IN THE SLOPE.

4 weeks for a nice brownstone isn't an unholy rush especially if the seller is heading into the dead winter weekends.

Duh.

Posted by: guest at December 7, 2007 11:17 AM

RE: 86 Garfield.

I think that's a fair price. It's still only a 3-story house.

Posted by: guest at December 7, 2007 11:20 AM

Guess it pays to bid low.

Posted by: guest at December 7, 2007 11:21 AM

50 Lefferts Ave was NOT on the market for 20 weeks -- more like one month. It was 20 weeks before the sale actually closed, mostly due to conflicting attorneys' vacation schedules over the summer -- it closed in July.

Posted by: guest at December 7, 2007 12:01 PM

Unbelievable! The people on this site are incredulous. 86 Garfield was a HOTD and everyone thought it was way overpriced. Now that it sold for less than ask, everyone can't believe that it went that low and thinks the market is crashing.

Bottom Line - this site only brings on negativity, pessimism and bitching.

Posted by: NewYawker at December 7, 2007 12:29 PM

In this market, that is a heroic price for a 3-story.

Posted by: guest at December 7, 2007 12:32 PM

Mr. NewYawker, why don't you just avoid the site and you won't have to post.

Posted by: guest at December 7, 2007 1:09 PM

i agree. 2 million is a great place for a small, cute house needing work.

people who claim that this price signals a softening of the park slope market have no idea what the hell they are talking about.

small house for 2 million people.

that's a lotta money for a house that needs a few hundred thousand in upgrades.

Posted by: guest at December 7, 2007 1:10 PM

86 Garfield Place was a dump. Looked like a cheap abused rental townhouse inside. I don't think it even had it's top pediment intact. Vinyl windows, needed lots of work.

Surprised in went for over $2 million but as I own nearby I'm not complaining.

Posted by: guest at December 7, 2007 1:35 PM

2.3M was an overreach for 86 Garfield. But I don't think it selling for $2M is a sign of weakening market at all--in fact, if it didn't look great inside, then it's a sign of the opposite. No way a smallish brownstone near 5th Avenue would have got $2M a year or so ago. I would have guessed $1.8M, tops, for it.

Posted by: guest at December 7, 2007 2:16 PM

BTW, Garfield was HOTD on August 21.

Posted by: Petebklyn at December 7, 2007 2:18 PM

Wow, back then there sure was a lot of skepticism that it would go for $1.8ml never mind $2.1ml.

Posted by: guest at December 7, 2007 2:25 PM

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