« Fischer-palooza Continues: Warehouse Eleven Condos House of the Day: 118 Willow Street »
January 14, 2008
Condos of the Day: 70 Washington Street
In addition to the five units at 70 Washington in Dumbo currently available on the Two Trees website, there are another six resales on the market, ranging from an 915-square-foot mini-loft for $845,000 to a corner two-bedroom for $1,675,000. The seller of a third one, Apartment 9K, just had to scale back the visions of windfall profits dancing in his head. Originally bought for $1,220,00 in early 2005, the 1,560-square-foot pad went on the market in September for $1,595,000. It was reduced last week to $1,495,000.
70 Washington Street [Street Easy] GMAP
Available Condos in Dumbo [Two Trees]
Trackback Pings
TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/3495
Comments
LOL! "Half" a bedroom in the "mini-loft!" Isn't that like being a little bit pregnant. As the floor plan indicates, the back room in a "home office."
Posted by: guest at January 14, 2008 1:01 PM
Seeing these prices, this is exactly what explains the heat of the brownstone market. For the price of these condos you can have a house. And everyone can have their own bedrooms, imagine that!
Posted by: guest at January 15, 2008 11:44 AM
Wow, say the guy even gets 1.4 for it (which he won't). Take out closing costs, and you're talking about a 10% total return over what will be 2 years. Not to mention that his deposit sat without interest... and this was bought before the peak.
Wow, are buyers in for some shocks...
Posted by: guest at January 15, 2008 3:50 PM
that's the line with views. what a steal
Posted by: guest at January 15, 2008 5:27 PM
Smart buyers shouldnt be in for any shock. 5% appreciation each year is what you should expect. If your living there for 2 years, then yes 10% sounds about right. Factor in the $30k closing costs and the 10% selling costs, then yes, 2 years may not make a lot sense, but 5 years probably does. You arent giving yourself enough leverage with time to make a lot of money, since your paying so much to buy and so much to sell. If they do not use a Broker to sell-- they save 6% of the 1.4 million.
Posted by: guest at April 19, 2008 10:07 AM
Post a comment
Please be patient while your comment is published. It may take a moment.