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September 17, 2008

Last Week's Biggest Sales

top-sales-09-16-08.jpg
Midwood in the house.

1. MIDWOOD $3,950,000
1034 East 8th Street GMAP (left)
2,803-sf house on a nearly 5,000-sf lot, according to Property Shark. Two-family built circa 1920; has a garage. Deed recorded 9/10.

2. MIDWOOD $2,350,000
975 East 9th Street GMAP (right)
2,548-sf house that last traded hands for $2 million in mid-2007, per Prop Shark. The house was built around 1930. The new buyer is an LLC, so decent odds it's going to be redeveloped. Deed recorded 9/9.

3. CARROLL GARDENS $1,770,000
498 Clinton Street GMAP
Three-story townhouse was originally listed for $2,199,000 in February, according to Street Easy. A few price chops followed, and the final asking was $1,799,000. House has four bedrooms and weighs in at 2,736 square feet. Last sold for $1,100,000 in late 2004. Deed recorded 9/11.

4. WILLIAMSBURG $1,475,000
60 South 1st Street/291 Wythe Avenue GMAP
This house didn't languish on the market too long: It was listed at the end of April and the asking was increased a smidge in July, according to Street Easy. 3,348-sf, 3-family. Deed recorded 9/9.

5. DUMBO $1,465,000
70 Washington Street, Unit 8D GMAP
1,700-sf condo at one of Dumbo's priciest buildings. Deed recorded 9/8.

Photos from Property Shark.




Posted by Gabby at 11:35 AM | Comments (28)
Categories: Sales

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Comments

Both Midwood houses are obviously teardowns, could be either McMansions or condos in those location.

Posted by: Architerrorist at September 17, 2008 11:48 AM

Am I missing something or do those first two look like the wrong price?

Posted by: the chicken at September 17, 2008 11:49 AM

No there is big Hasid/Sephardim money out here. It's a totally different universe and prices are not related to the Brownstoner scene.

Posted by: Architerrorist at September 17, 2008 12:04 PM

The first two are tear-downs although in the current climate they may become foreclosures. unless it is a Hassidic/Syrian or Sephardic community. It is true that the value of property in Orthodox communities within walking distance of Temple, is a market all onto itself.

Posted by: sam at September 17, 2008 12:26 PM

I had heard that prices were out of whack because of walking proximity to temples - hadn't realised it was this crazy.

Posted by: the chicken at September 17, 2008 12:27 PM

Archterrorist/sam, any insight into where the Hassidic / Syrian / Sephardim get all their cash? I'm tempted to assume it's stereotypically through the diamond business on 47th Street, but they can't all be involved in that business.

Posted by: Biff Champion at September 17, 2008 12:32 PM

They steal it. It's blood money

Posted by: PropJoe at September 17, 2008 12:33 PM

I had a feeling my sincere question would bring PropJoe out from under his rock...

Posted by: Biff Champion at September 17, 2008 12:41 PM

C'mon, you know it's true. N one has that much money legally.

Posted by: PropJoe at September 17, 2008 12:44 PM

I believe Syrian Jews had a lock on the home electronics market in NYC at one period of time... They owned Crazy Eddies, Nobody Beats the Wiz, etc. Not sure if that's still the case.

Posted by: setancre at September 17, 2008 12:45 PM

Biff: Real estate and development. Major Hasidic landlord action in Brooklyn and we assume the other boroughs except S.I. Soon to increase, I expect, since they're the only ones with access to credit at the moment.

Posted by: Desi at September 17, 2008 12:46 PM

Any house within the right eruv can be worth a whole lot of money to certain people.

What's a eruv you say? Oh go and look it up yourself.

Posted by: manofelt at September 17, 2008 12:54 PM

Desi, thanks for the answer.

manofelt, I'll have to look up the word as I have an "eruv uncertainty" regarding it's meaning.

Posted by: Biff Champion at September 17, 2008 12:59 PM

The guy I knew from that community came from the family that own, or owned, Sasoon Jeans. Remember them? They were also into the import/export business as well as the garment and fashion business.
I think it is the non-sephardic community that are into the electronics. More Willamsbug, not Ocean Parkway.
The Syrian Jewish community is very stylish. they do not wear eighteenth century outfits.

Posted by: sam at September 17, 2008 1:02 PM

I financed one of these properties in Midwood a couple years back. You should have seen me explaining to the secondary marketing department of a major loan purchaser in the Midwest explaining why an ugly POS these these 2 houses were worth 2mm plus.

"Excuse me sir, What is a Shul?" I had a hard time keeping from laughing at her mid-western accent trying to pronounce Yiddish words.

Posted by: Adam Dahill at September 17, 2008 1:02 PM

Biff...I hear there's a alot of Canadian money in BH. Where do you think they get it all?? Pelts?

Posted by: daveinbedstuy at September 17, 2008 1:04 PM

Dave, funny. It was pelts at one-time, but I think these days it's the Canadians' domination of the Zamboni trade along the eastern seaboard.

sam, I remember Sasoon Jeans! And Jordache and Sergio Valente...brings back memories of Brooke Shields and the most popular girl in junior high school whom everyone wanted and who is probably now married to a truck driver in Des Moines and raising 6 kids on a farm.

Posted by: Biff Champion at September 17, 2008 1:13 PM

As the community grows so do the physical boundaries of the community. Areas with big homes near Avenue J and Kings Highway like the non-landmarked sections of Ditmas Park become very attractive as well.

Posted by: Chosen at September 17, 2008 1:16 PM

The Wiz, Sassoon, Jordache... All Sephardim owned. Some other low-end clothing chains, too.

Posted by: Architerrorist at September 17, 2008 1:28 PM

I'm pretty sure all of the companies you mentioned were owned by families in this part of Brooklyn.
I remember the SNL skit with Gilda Radner doing a take-off on the Brooke Shields commercial. Her brand was "Jewess Jeans" the motto was "you don't have to be Jewish to wear them, but it helps"

Posted by: sam at September 17, 2008 1:32 PM

Yeah sam...too bad SNL just doesn't have the good stuff anymore. The Sarah palin skit could have been a lot funnier, especially if they didn't have the Hillary there too!!! I think they did a Crazy Eddie skit back then too.

I remeber when the stock came public back in the 80s and then it got hit really hard after someone started a rumor that he had AIDS. I think his name was Eddie Antar.

Posted by: daveinbedstuy at September 17, 2008 1:36 PM

SNL's Jewess Jeans skit:

http://www.jibjab.com/view/226975

Posted by: TownhouseLady at September 17, 2008 1:38 PM

TownhouseLady, I was just searching YouTube for that skit to pass on to sam and couldn't find it! Great minds...

Posted by: Biff Champion at September 17, 2008 1:41 PM

I'm just glad Sam thought of it. I hadn't seen that one in ages!

Posted by: TownhouseLady at September 17, 2008 1:45 PM

Thank you TownhouseLady. BTW how's Hooch???

Posted by: daveinbedstuy at September 17, 2008 1:47 PM

Gilda Radner was a treasure. Thanks TownhouseLady!

Posted by: sam at September 17, 2008 1:59 PM

My point, exactly. Eddie Antar & his Sephardic Jewish family are career criminals & scheisters. The whole group are criminals

Posted by: PropJoe at September 17, 2008 3:27 PM

The sephardic jews of midwood own all sorts of things. Century 21 is one of the ones I pay attn to. There have been several NY Times articles about the community:

http://www.nytimes.com/2006/06/25/realestate/25cov.html?scp=6&sq=sephardic%20jews%20ocean%20parkway%20syria&st=cse

There are some more articles about their culture and such. For instance, they will disown children who marry non-jews, and last minute conversions dont count.

Posted by: slick at September 17, 2008 6:52 PM

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