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February 26, 2008
Last Week's Biggest Sales
Last week three of the priciest residential sales were in the Slope, though each one tells a slightly different story: 1st Street went for a whole lot more than ask; Garfield Place changed hands for quite a bit less than its original price tag, $2.5 mil; and 60 St. Marks closed $200K shy of ask.
1. PARK SLOPE $3,600,000
536 1st Street GMAP (left)
Originally listed at $3.2 million; 4,720-sf 1-fam. Deed recorded 2/19.
2. PARK SLOPE $2,600,000
60 St. Marks Avenue GMAP (right)
Listed at $2,800,000 about five months ago; 3,680-sf 2-fam. Deed recorded 2/19.
3. GRAVESEND $2,200,000
2017 West Street GMAP
Detached 1,404-sf home on a 3,000-sf lot. Deed recorded 2/20.
4. PARK SLOPE $1,850,000
87 Garfield Place GMAP
House of the day on two occassions; 5,600-square-foot property originally asking $2,500,000, later cut to $1,990,000. Deed recorded 2/21.
5. BOROUGH PARK $1,614,000
1444 53rd Street GMAP
2,443-sf 3-fam house built circa 1910. Deed recorded 2/20.
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Comments
The asking price on the Garfield Place house was outrageous. It sold for a fair price.
Re: St. Marks - This is the house that a few morons said wouldn't sell because "mulit millionaires don't want to have to take their shoes off at an open house"
OH REALLY?? One didn't mind.
Re: 1st Street - not surprised it went over ask. gorgeous house and block.
Posted by: guest at February 26, 2008 11:48 AM
I totally disagree - the garfield home sold for $330 per square foot - simply because of some easily fixable layout issues - whoever bought that house got a great deal.
Posted by: guest at February 26, 2008 11:53 AM
I agree with 11:53. That's $100 a sq ft lower than some of these clinton hill (downing anyone?) wrecks.
Posted by: guest at February 26, 2008 11:59 AM
the fascade on the garfield place house is hideous.
would need to be totally redone. that's expensive.
Posted by: guest at February 26, 2008 12:00 PM
They are underwater now. Wait for the end of this year. Hoo doggie!!
The What
Someday this war is gonna end...
Posted by: guest at February 26, 2008 12:03 PM
shut up, the what.
no one shelling out 2 or 3 million bucks during the HEIGHT of what you say is the apocolypse is under water.
stop projecting.
Posted by: guest at February 26, 2008 12:05 PM
12:00 - it's people like you who won't ever get a great deal on a house in NYC (maybe you're rich enough not to need one) It is SO easy to put a cornice on a building and replace the windows, which is ALL that is necessary to completely transform the look of the Garfield house.
Posted by: guest at February 26, 2008 12:06 PM
told you that 60 St. Mark's would do just fine despite ppl commenting that the street "just isn't that nice." Too nice for you, I guess.
Posted by: North Sleeper at February 26, 2008 12:12 PM
Nothing wrong with this market very healthy if you ask me
Posted by: guest at February 26, 2008 12:13 PM
i don't need a great deal on a house.
i own a beautiful one in park slope already.
i'm not saying the garfield house is a shitshow, i'm jus saying that it would be nice to rebrick the front, to make all of the match, add new cornice, windows etc, which is probably another 200K.
still a good deal, sure but this was bought to be converted to condos, most likely, so doubt they will do any of those said improvements.
Posted by: guest at February 26, 2008 12:16 PM
I thought someone said that the only reason someone bought that georgeous Berkeley Place house for 3.4 million was because it was BEFORE the credit crunch.
Well now here is one for 3.6 million...400K over ask AFTER the credit crunch.
No comments on that?
Thank you also to the person who pointed out that so many people made negative comments about St. Marks.
I loved that house and glad to see it sold for a great price.
Posted by: guest at February 26, 2008 12:17 PM
"I totally disagree - the garfield home sold for $330 per square foot - simply because of some easily fixable layout issues - whoever bought that house got a great deal."
Nice broker math. Floorplate is 980 sf, the bumpout 120 sf. Three stories (you gonna live in the English basement, really? -- not legally), so I get 3,300 sf, not the crazy 5,600 sf claimed by the broker. That works out to more like $560/sf. Maybe a good deal, but hardly a steal if the owner plans to convert the apartments into something less dicey.
I also love how the broker labeled all of the interior, windowless rooms "sleep areas." For shame.
Posted by: guest at February 26, 2008 12:23 PM
The 1st Street house was on the market for 15 months, and then sold for $400K above ask. That doesn't really compute, does it?
Posted by: guest at February 26, 2008 12:23 PM
it computes to me.
houses like this need to find the right buyer.
this one took 15 months.
Posted by: guest at February 26, 2008 12:26 PM
The multi-million-dollar market is great. Most of the buyers do not need a mortgage, or their parents own a bank. But lesser properties are in trouble.
Posted by: guest at February 26, 2008 12:37 PM
.....5 bucks 'the what' believes in aliens.
Posted by: guest at February 26, 2008 12:45 PM
there are no "lesser" properties in nyc, 12:37.
the properties in trouble are the tree-less acres of mcmansions in the sprawling suburbs of anytown, usa.
Posted by: guest at February 26, 2008 12:47 PM
re first street sale. the joint across the street everyone was bitching about a month or so ago looks like a bargain now. this block is mint.
Posted by: BrooklynLove at February 26, 2008 12:47 PM
Ten buck says the what IS an alien. That fuckin' fucktard.
Someday the What is gonna end...
Posted by: guest at February 26, 2008 12:50 PM
12:47...you'll have to be more specific.
people here bitch about every house that comes for sale.
especially in park slope.
seems the haters aren't really having the affect they hoped for.
Posted by: guest at February 26, 2008 12:54 PM
What's up with the Gravesend 'house'? Where's Gravesend? and why so much?
Posted by: guest at February 26, 2008 12:58 PM
Gravesend (Dutch for Count's sands) is one of the original Dutch settlements on Long Island. It is way the heck down by the bay. It is home to a thriving Syrian Jewish community. Take a look at some of the new houses down there. It is like driving through the swanky parts of Las Vegas. The property is worth a lot. The old houses are tear-downs.
Posted by: guest at February 26, 2008 1:05 PM
hey 'the what'-
I'll put up with your apocalyptic bullshit and 'wait till the end of the year' like you said, if you promise to apologize for all your horseshit when we're all still here in our houses and the market is still trundling along at single digit growth in January '09.
Posted by: guest at February 26, 2008 1:11 PM
Regarding 536 1st Street: it was NOT on the market for 15 months. It sold for $3.2 million on 2/16/2007, and was flipped one year later for the price of $3.6 million listed above.
And this second sale was not on the open market as far as I know, since I never saw this listing and I've been looking for houses in the Slope since July 2007.
Posted by: guest at February 26, 2008 1:21 PM
Some sucker really overpaid for 60 St. Marks Ave. Shabby block, mediocre house. Crazy.
Posted by: guest at February 26, 2008 1:24 PM
"What's up with the Gravesend 'house'? Where's Gravesend? and why so much?"
One word - SYNAGOGUE. No?
Posted by: guest at February 26, 2008 1:26 PM
wow 1:21...if that is true, the market is even hotter than i thought.
so they made 400K in ONE YEAR!!!???
good for them.
Posted by: guest at February 26, 2008 1:26 PM
"I'll put up with your apocalyptic bullshit and 'wait till the end of the year' like you said, if you promise to apologize for all your horseshit when we're all still here in our houses and the market is still trundling along at single digit growth in January '09."
You got a bet!!!!!!!!! I will put some money on that also!!!
The What
SOMEDAY this war is gonna end...
Posted by: guest at February 26, 2008 1:26 PM
they made more on this 1st street flip than the what has in his 45 years in brooklyn!!!
Posted by: guest at February 26, 2008 1:28 PM
Since The What apparently missed this story in the WSJ:
FDIC to Add Staff as Bank Failures Loom
WASHINGTON -- The Federal Deposit Insurance Corp. is taking steps to brace for an increase in failed financial institutions as the nation's housing and credit markets continue to worsen.
The FDIC is looking to bring back 25 retirees from its division of resolutions and receiverships... FDIC spokesman Andrew Gray said the agency was looking to bulk up "for preparedness purposes."
Posted by: guest at February 26, 2008 2:05 PM
sounds like a perfect job for The What!!!
Posted by: guest at February 26, 2008 5:09 PM
Good find, 2:05 PM. Preparedness purposes my ass. The Fed knows something we don't. But this is irrelevant to Brooklyn because...
Posted by: guest at February 26, 2008 5:35 PM
"Since The What apparently missed this story in the WSJ:"
Oh no Homeboy! I knew about that for days. I wrote about insolvent banks like WAMU, Citi and Wacovia. When the banks are forced to put the toxic shit back on their balance sheets, all hell is gonna break lose. This mortgage shit is is systemic! That's what I'm harping on!! America economic system is in serious trouble. When the FDIC steps in they are going to liquidate all REO's on the banks balance sheet. They wont give a fuck, they will sell it 20 cents on a dollar. When that sell closes, thats a fucking comp assholes. Real estate will be fucked!!
Last but not lease, Contryfried will be up on deck first! The deal with BOA will not happen. RIP Mutant Real Estate Bubble.
The What (Buy now or the price will go up LMMFAO)
Someday this war is gonna end......
Posted by: guest at February 26, 2008 6:13 PM
I agree with 1:21, I've been actively looking for a house for the last year plus and I don't recall seeing this one listed. If you click on the link the sales history looks like the property includes some type of garage or extra property?
Posted by: guest at February 26, 2008 10:02 PM
10:02 is right. According to the ACRIS, 536 1st Street traded as "dwelling only" for $3.2 million in Feb 2007, and later traded as "1-2 family with attached garage and/or vacant land" for $3.6 million in Feb 2008. This info is from the actual deeds themselves, not Prop Shark or Streeteasy.
Posted by: guest at February 27, 2008 12:44 AM
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