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October 10, 2008

Just Sold in Brooklyn

just-sold-1008.jpg
SOUTH SLOPE $850,000
497 12th Street
Prewar two-bedroom, 1½-bath duplex, 1,055 square feet, with 300-square-foot outdoor space, tin ceilings, new kitchen with dishwasher and renovated bath with claw-foot tub. Common charges $340, taxes $183. Asking price $819,000, on market three months. Brokers: Kristina Leonetti and Jessica Buchman, The Corcoran Group. GMAP

KENSINGTON $250,000
300 Ocean Parkway
Prewar one-bedroom, one-bath corner co-op, 850 square feet with foyer, windowed eat-in kitchen, five closets and renovated bath with Tiffany tiles; building features elevator and laundry. Maintenance $630. Asking price $260,000, on market two weeks. Broker: Jeff Surowka, Abacus Properties. GMAP
Just Sold! [NY Post]




Posted by Brownstoner at 2:48 PM | Comments (26)
Categories: Sales

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Comments

The South Slope buy is suddenly looking very expensive for what it is.

Posted by: dittoburg at October 10, 2008 2:54 PM

With incredibly low common charges and the outdoor space, I don't think it looks that bad. Clearly someone loved it enough.

Posted by: 11217 at October 10, 2008 2:58 PM

Just curious - are the closings recorded on these properties? Or have they just gone into contract? (and if so, how is this info public?) A lot can happen in this market between contract and close...

Posted by: Miss Muffett at October 10, 2008 3:10 PM

dittoburg, agree. $805/sq.ft. for 12th st. sounds steep, and a 1000sq.ft. 2bd. duplex sounds like it could feel like a small place, versus spread out (personally anything under 1000sq ft or below doesnt sound like a 2bdrm to me. the outdoor space is a plus, though not quite garden size if its , say, 15'x20'. At this price my guess is they closed, versus just entered into contract (I hope). But I do really hope they enjoy the place.

Posted by: goldie at October 10, 2008 3:23 PM

a contract is not a sale. a sale means it's closed.

Posted by: i disagree at October 10, 2008 3:33 PM

Would it really cost so much to put a cornice on the place at those prices?

My god people - have some pride in your building! How the hell did that place go condo without some basic maintenance of the facade?

Posted by: Polemicist at October 10, 2008 3:56 PM

It's taken a haircut!

Posted by: dittoburg at October 10, 2008 3:58 PM

park slope goes over asking and you people are still trying to bash it.
Miss Muffett you have no clue what's going on.

Posted by: sebb at October 10, 2008 4:14 PM

And it went over Corocoran asking, now that IS something.

Posted by: dittoburg at October 10, 2008 4:21 PM

lechacal : where are you?

Posted by: sebb at October 10, 2008 4:34 PM

right dittoburg...Kristina and Jessica are not the brokers you want to list your home!!!

Posted by: daveinbedstuy at October 10, 2008 4:58 PM

sebb you're seriously grabbing straws right now

Posted by: Santa at October 10, 2008 4:59 PM

Sebb - how do you respond to the Open House picks today that all had big price cuts? Let's continue to see what happens. Again, nothing you nor I say makes a difference to the market, and you can say I have no clue but we all have our opinions of what looks likely (and you are in the distinct minority to remain so optimistic about NYC RE when many other indicators point to price increasing price declines to come) but of course, only time will tell....

Posted by: Miss Muffett at October 10, 2008 5:16 PM

Mean to say indicators point to increasing price declines...

Posted by: Miss Muffett at October 10, 2008 5:19 PM

You've got to be clinically overhappied (you know, a congenital excess of serotonin) to think prices will not take a beating now.

Posted by: dittoburg at October 10, 2008 5:22 PM

I don't think i am the only optomistic person. Johnathan miller Yesterday said on bloomberg he see's no declining in the Manhattan real estate market. The only problem he sees Is people getting mortgages and once that is fixed it will be fine. So let's see we might have a bottom in the DOW and S&P indexes and if not we are really close and People will start making a lot of money in the Market once it starts going up and it will. We still have limited inventory In the Housing Market. We are still the safest big city in America. The last time I checked I never heard anyone saying they could not wait to move Oregon, New Jersey, North Dakota , South Dakota, Wisconsin,Idaho,Ohio,Kansas,Montana,North carolina,South Carolina You get the Point. But I have heard many say they want to move to NYC. Tell me I am wrong?

Posted by: sebb at October 10, 2008 5:54 PM

Jonathan Miller is apparently the only one.

Prices ARE falling in Manhattan.

Posted by: SnarkSlope at October 10, 2008 6:01 PM

if you remove a few people making high figures it removes the ability to buy highly priced properties. This then causes people living here the ability to sell their small UWS apartment so they can buy a 2 mil brownstone.

this all causes everything to come down in price.

New york has aways been expensive but over the last 10 years you have seen a huge inflation in prices caused by a small amount of people.

if prices go down to 2002 its not the end of the world for anyone unless you bought in 2005 - 2007 and honestly thats not a whole lotta people.

Posted by: Santa at October 10, 2008 6:06 PM

Jonathan Miller is like that last Japanese soldier on some remote island who is still fighting for the fatherland in 1950 because he does not believe, nor accept, that the war is over and he must surrender.

Posted by: Inigo at October 10, 2008 10:02 PM

the biggest mistake that people who bought in the last couple of years could have made was buying apartments that turn out too be too small. unless they have a lot of extra cash, they'll find that once the babies come or get bigger, they'll be stuck in this market. i think that many buy something like 1000 sq ft for $850K and think that it's enough space. i have talked to several families in this position. if you have an apt that's big enough, then you can ride this downturn out.

Posted by: wine lover at October 11, 2008 12:44 AM

Sebb,

Your comments are bordering on ridiculous now. Manhattan prices DID drop...all you need to do is google it.

And people DO move to other states...Portland, Oregon is a very desirable city and many New Yorkers move there. In fact, MANY educated people move OUT of New York...our population increases here mainly from immigration, not from people from other states moving here.

I am a huge booster of Brooklyn and NYC as most people know, but your comments are no longer based in fact. AT ALL. You've officially lost it dude.

Posted by: 11217 at October 11, 2008 11:27 AM

I'm not surprised that these places are selling. My husband and I have been waiting to buy the right place for about 3 years. We just lost *another* bidding war on an apt that was on the market for 1 day and went over asking. It's shocking, but still happening for the right apts in the right locations.

Posted by: seahag21 at October 11, 2008 12:11 PM

Sebb,

Could you do some editing? I'm not a Fan of random Capitalization of Unnecessary words. Thanks.

Posted by: sixyearsandcounting at October 11, 2008 1:27 PM

Seahag21 - if you have cash, be patient. You will most certainly score a deal. If you need a big mortgage, it will be harder, but I think what you've been witnessing is truly the final gasp of this market cycle and things will definitely change in your (buyer's) favor.

Posted by: Miss Muffett at October 11, 2008 3:31 PM

Those bay-fronted tenements look so awful without their cornices. East New York anyone?


Posted by: Inigo at October 11, 2008 10:39 PM

Re the cornice: Do you have any idea how expensive it is to replace one? Our 5-story co-op has a flat facade, and we're looking at upwards of 70k. I can only imagine what a curved one would cost. Even just pulling one down is 15k (including scaffolding).

Posted by: Bolder at October 12, 2008 2:06 PM

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