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December 9, 2008

Last Week's Biggest Sales

top-sales-12-9.jpg

1. BOROUGH PARK $3,100,000
4620 12th Avenue GMAP (left)
3,132-sf, 3-family on a 6,000-sf lot, according to PropShark. An LLC purchased the house. Entered into contract on 5/27/08; closed on 11/19/08; deed recorded on 12/1/08.

2. WILLIAMSBURG $1,406,000
47 North 8th Street, Unit 6A GMAP (right)
2-bed, 2-bath unit in the Toll Brothers development is 1,340-sf, according to StreetEasy. Sale included a parking spot. Entered into contract on 10/28/06; closed on 11/4/2008; deed recorded on 12/5/2008.

3. PARK SLOPE $1,400,000
392 2nd Street GMAP
3-family, 3,548-sf brick building was at one point asking $1,600,000, according to this listing. Entered into contract on 11/12/08; closed on 11/12/08; deed recorded on 12/03/08.

3. BERGEN BEACH $1,400,000
2205 East 73rd Street GMAP
3,116-sf, 3-family house on a 6,000-sf lot, according to Property Shark. Entered into contract on 5/28/08; closed on 10/28/08; deed recorded on 12/02/08.

4. PARK SLOPE $1,300,000
382 Butler Street GMAP
House was originally listed for $1,499,000 in October of last year, per StreetEasy. 4,376-sf, 3-family with a yearly rental income of $85,200, according to its listing. Entered into contract on 2/26/08; closed on 6/27/08; deed recorded on 12/03/08.

4. CARROLL GARDENS $1,300,000
317 Degraw Street GMAP
When we had this as a HOTD in February, the 16-foot-wide townhouse was asking $1,599,000. Entered into contract on 8/12/08; closed on 10/30/08; deed recorded on 12/03/08.

4620 12th Avenue photo from Property Shark; North 8 photo by TrespassersWill.




Posted by Gabby at 11:30 AM | Comments (25)
Categories: Sales

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Comments

Good price for the Williamsburg place. I'm surprised.

Posted by: dittoburg at December 9, 2008 12:49 PM

What do you mean by "good", ditto?

And 3.1 million... seriously?

Posted by: Nokilissa at December 9, 2008 1:05 PM

I mean higher than I would have expected giving the news reports of the Williamsburg waterfront condo market going south.

Posted by: dittoburg at December 9, 2008 1:11 PM

all the houses had pretty nice cuts.

still expensive

Posted by: Santa at December 9, 2008 1:29 PM

I see that 3 of 6 listings had price cuts.

How is that all?

Posted by: 11217 at December 9, 2008 1:38 PM

eh 3 of the 3 houses in brownstone brooklyn.

Posted by: Santa at December 9, 2008 2:23 PM

I hope those people that bought paid cash for those homes because I sure don't want to be paying for their mistakes when they ask for a bailout. There are no million dollar homes in Brooklyn. They are all inflated prices.

Posted by: hannible at December 9, 2008 2:34 PM

Ridiculous/controversial statement of the day:

"There are no million dollar homes in Brooklyn."

Posted by: wasder at December 9, 2008 2:50 PM

re the Williamsburg sale -- what's up with 6A? It sold significantly higher than previous sales or current asks in its building.

Any theories as to why?

Posted by: JKB at December 9, 2008 2:52 PM

"There are no million dollar homes in Brooklyn."

So London, Sydney, Singapore, Hong Kong, Moscow, Tokyo, etc etc etc even Brisbane, Leeds, Philly, Eindhoven, do not have million dollar homes either? Or is it just Brooklyn? Is it the river, because I know of other cities that have rivers and million dollar homes do tend to exist on both sides.

Posted by: Aussie at December 9, 2008 2:54 PM

"There are no million dollar homes in Brooklyn."

That statement even made Miss Muffet blush!

Posted by: Biff Champion at December 9, 2008 2:57 PM

my God, the Midwood house is a dump! Is it close to the local synogogue - otherwise I'm scratching my head.

Posted by: tiptoe at December 9, 2008 3:01 PM

i'm going to guess (and only guess) that 6A has both a manhattan view and a terrace. the park is across the street from this building, so they will never be anything built there. views of manhattan will hold their value.

Posted by: wine lover at December 9, 2008 3:01 PM

Shame its mainly a view of Stuy town. But a view nevertheless.

Posted by: dittoburg at December 9, 2008 3:09 PM

"Good price for the Williamsburg place. I'm surprised."

Don't be, ditto.

"Entered into contract on 10/28/06"

Way to lock them in, Toll boys.

***Bid half off twice the ask/peak comps you can afford***

Posted by: Brownstones Half Off at December 9, 2008 3:28 PM

I am sorry I did not know that Brooklyn had the same prestige as the Thames,the Senna or the Tiber rivers. Yes there is nothing like opening up your kitchen window in the morning and seeing the wonderful view of the home Depot and smelling that fresh air rising from the Gwuanus canel. If homes are worth a million dollars in Brooklyn then the European villas by the rivers should be worth billions. Wait until the dollar goes up and see if Europeans continue paying so much for these Brooklyn villas

Posted by: hannible at December 9, 2008 3:58 PM

Ohhhhhhhh.....
I mis-read that as 10/28/08.

Posted by: dittoburg at December 9, 2008 4:05 PM

"I am sorry I did not know that Brooklyn had the same prestige as the Thames,the Senna or the Tiber rivers."

So it is the river... thought it might have been (-;

Posted by: Aussie at December 9, 2008 4:50 PM

didnt a house sell for over 1 million in park slope in the late 80's

also I read that as 10/28/08 as well. thats crazy.

Posted by: Santa at December 9, 2008 7:25 PM

BHO, what do you mean by:
***Bid half off twice the ask/peak comps you can afford***?

I know you've tried to explain it, but it's still confusing. Half off twice the ask would seem to be the same as the full ask, no? But your handle suggests you think prices should be cut 50%. Can you please clarify? I suggest you re-write your tag line to make clearer...

Posted by: Miss Muffett at December 9, 2008 10:27 PM

"Can you please clarify?"

Let's say I can afford $1M. Rather than be turned off by $2M listings (backed up by recent comps which happen to be peak, the highest for this bubble cycle, for argument sake), I bid anyway but at a 50% crew cut.

The slogan was meant to transcend time, to span the transition between denial and fear. If asks start getting more realistic, then it's the peak comps you need to look at, hence the ".../peak comps..."

Maybe just: ***Bid half off ask/peak comps*** ???

or: ***Bid half off peak comps regardless of asks*** ???

Suggestions please.

Posted by: Brownstones Half Off at December 9, 2008 11:24 PM

OK, got it. I guess "Bid half off peak comps" is clearest. Thanks for clarification.

Posted by: Miss Muffett at December 9, 2008 11:42 PM

"Suggestions please."

My suggestion would be to give up on the concept of an all encompassing slogan because if the last few years have proved anything its that there are no hard and fast rules about anything.

Relativism rules!

Posted by: wasder at December 10, 2008 8:50 AM

So is it realistic to bid 250,000 dollars for someone that is asking 550,000 dollars for a condo? The real estate agents of Brooklyn Heights and Carroll Gardens are the ones that are not lowering the prices. They are the ones that are keeping the prices pumped up. If they don't have to sell good for them but if they are strapped for cash then you will see For Sale signs pop up left and right in rapid sequence

Posted by: hannible at December 10, 2008 8:58 AM

"So is it realistic to bid 250,000 dollars for someone that is asking 550,000 dollars for a condo?"

Absolutely. If you bid such, it becomes real. If it becomes real, it becomes realistic. wasder said there's no hard and fast rules. You're bid will get rejected today but accepted tomorrow as the asks of sobering sellers chase the market down to the bottom.

***Bid half off peak comps***
(Thanks, Miss Muffet)

Posted by: Brownstones Half Off at December 10, 2008 9:56 PM

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