« Rickshaw Dumplings Invade Dumbo Co-op of the Day: 160 Columbia Heights »

March 17, 2009

Last Week's Biggest Sales

1. PROSPECT HEIGHTS $3,054,750
On Prospect Park, Unit 10C GMAP (left)
A 2,409-square-foot, 3-bedroom unit in the Richard Meier-designed condo, according to StreetEasy. Entered into contract on 5/21/07; closed on 2/27/09; deed recorded on 3/12/09.

2. CARROLL GARDENS $2,000,000
285 Smith Street GMAP (right)
This 3,360-sf four-family with a storefront hit the market in October, listed at $2,450,000; the price was subsequently decreased to $2.25 mil. Entered into contract on 1/7/09; closed on 2/18/09; deed recorded on 3/10/09.

3. PARK SLOPE $1,700,000
493 1st Street GMAP
A 2,516-sf, two-family house, according to Property Shark. Entered into contract on 12/24/08; closed on 2/24/09; deed recorded on 3/12/09.

4. SOUTH SLOPE $1,425,000
444 12th Street, Unit 1B GMAP
This 1,775-sf, 3-bedroom unit at the Ansonia condo was originally listed for $1,595,000 in September, says StreetEasy. Sale included a parking spot. Entered into contract on 12/2/08; closed on 3/5/09; deed recorded on 3/12/09.

5. BRIGHTON BEACH $1,325,000
155 Oceana Drive East, PH2A GMAP
A penthouse unit in the Oceana condo. Entered into contract on 1/7/09; closed on 2/26/09; deed recorded on 3/12/09.

285 Smith Street photo from Property Shark.

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Comments

Still pretty solid all things considering.

Posted by: Adam Dahill at March 17, 2009 11:43 AM

Well lookie here! This year a few houses came from Bed Stuy or Asshat Hill. Wait a minute are we talking about "Brownstone Brooklyn", LMMFAO..

Buh Bye Retards! Nick knowing ya...

The What (Taste the rainbow)

Someday this war is gonna end..

Posted by: Return of The What at March 17, 2009 11:43 AM

The place in CG looked like it had decent rent roll back in the fall, especially with the commercial space. $2MM still seems high, probably need something closer to 1.7 given the way rents going these days..

Posted by: Farkus at March 17, 2009 11:46 AM

Hey Adam Dahill do you like the new Mortgage guidelines kicking in on 4/1/09???

You can go back to your other job "Do you want fries with that" or "Do you want wax with that"?

ROTMMFLMMFAO! I see bottom fishing has it's benefits...

The What (The red skittles or the blue)

Someday this war is gonna end...

Posted by: Return of The What at March 17, 2009 11:47 AM

The selling prices which have popped up for On Prospect Park over the last few months, have been really quite high. I'm impressed.

Posted by: 11217 at March 17, 2009 12:07 PM

there is your comp for a resale of 2007 and 2009.
The Smith Street prop sold in spring of 2007 $1.6M
and resells for $2m post all the meltdown. with no improvements made.

Posted by: Petebklyn at March 17, 2009 12:11 PM

It would be interesting to see the selling prices of "On Prospect Park" if they didn't go into contract at the height of the market... and before the building was even close to complete.

Does a closing of a $3 million apartment suggest the building is finally done?

Posted by: tybur6 at March 17, 2009 12:32 PM

If I'm not mistaken the Smith St. house is quasi famous:
http://www.brooklynpaper.com/stories/30/18/30_18suburbaninvasion.html

The couple who bought it ended up buying something else in the area too, where they now live.
http://pardonmeforasking.blogspot.com/2009/02/westchester-couple-did-move-to-carroll.html

Posted by: christopher at March 17, 2009 12:38 PM

tyburg,

There are people living in there now, so most, if not all of it is done.

I think it turned out beautifully.

Posted by: 11217 at March 17, 2009 12:43 PM

Yeah, i think the On Prospect Park building is fairly nice. When it was first started, it seemed a bit odd... I actually still don't think it's "crisp" enough, but hey.

Posted by: tybur6 at March 17, 2009 12:50 PM

I like OPP even if it is not exactly groundbreaking design-wise. It looks like - to be blunt - a suburban office park in Houston from the 1980s. Still, I kinda dig it, and the park views must be stellar.

Posted by: SnarkSlope at March 17, 2009 1:00 PM

Despite my low opinion of OPP, I'm glad it's selling. A vacant deteriorating glass box on Grand Army Plaza wouldn't be a good thing. I prefer bland glass boxes that are occupied.

Posted by: Bob Marvin at March 17, 2009 1:19 PM

"You can go back to your other job "Do you want fries with that" or "Do you want wax with that"? "

Which you probably have to ask your mother for lunch money.
Basement living is cool.

Posted by: crimsonson at March 17, 2009 1:49 PM

I don't think the selling prices for properties that went into contract close to the meltdown really represent the "new comps". As AIG demonstrates, there is still a lot of bonus money (and plain old denial) that was swishing around the system, but that kind of cash is what will dry up a lot more in 2009 and onwards. These kind of "biggest sales" and "HOTD 6 months later" features will only reveal the fuller picture when tracked throughout 2009 and into 2010, where consensus is that much larger declines are ahead of us.

Posted by: Miss Muffett at March 17, 2009 2:04 PM

The prices for OPP continue to be remarkable, but they are also for deals signed way back in the day. I am curious as to how the resale prices will look. Part of my difficulty believing the price is that even at the top of the market $3mm would have bought a good park block brownstone in PS321. Different strokes I guess.

Also, this building is just so....Manhattan. And if that's your taste, why not just live in Manhattan? With prices for new luxury condos in Manhattan in free-fall, this kind of money can buy something very nice in a brand-new building in Tribeca.

Posted by: lechacal at March 17, 2009 2:39 PM

Keep holding out for that $1 million prime brownstone Muff!

If dire prognostications were dollars, you'd have paid off your mortgage by now!

Posted by: Mr Joist at March 17, 2009 2:43 PM

miss muffett -- keep your powder dry!

I think this meier thing is bizarre. there are actually some recent sales over 1100/foot. is it that great? the rest of PH is settling under 600/ft, no? maybe I should go check it out.

front row seats for all of the prospect park muggings we can look forward to in post-apocalypse brooklyn...

Posted by: joe_the_bummer at March 17, 2009 2:44 PM

Lechacal,

Because even with Manhattan prices in free fall, you're going to pay over 5 million in Tribeca for a similarly sized 3 bedroom/3 bath apartment. And it won't be built by a "starchitect" either.

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1382807&ohDat=3/22/2009%2012:00:00%20AM;

Interestingly, this apartment was listed at 3 million even, so it even went for over asking price by almost 55K.

Posted by: 11217 at March 17, 2009 2:51 PM

Maybe this one of the units Beyonce bought.

Posted by: 11217 at March 17, 2009 2:52 PM

"there are actually some recent sales over 1100/foot."

Yup, the one above sold at $1268 psf

Posted by: 11217 at March 17, 2009 2:53 PM

maybe she'll press a little ham against the glass. note to self: change jogging route.

Posted by: joe_the_bummer at March 17, 2009 2:54 PM

11217 I meant recent sales with 09 contract dates... impressive...

Posted by: joe_the_bummer at March 17, 2009 2:57 PM

Joe, I'm gay and I'd change my jogging route to see a piece of that.

Posted by: 11217 at March 17, 2009 2:57 PM

I think we should be seeing some resales from condo units bought in 2006-2007. Will be interesting.
Turnover is higher in new buildings.
Although I think there is some 'premium' paid for 1st occupant of new construction these resales will paint a picture of how prices have really changed.
Easier to compare these sales of new bldg condos because with houses or older apts never know what condition of prop at prior purchase or what modernizing if any was done.
Because the Smith st prop that folks bought 2 years ago shows no hint of lower prices.

Posted by: Petebklyn at March 17, 2009 3:13 PM

"front row seats for all of the prospect park muggings we can look forward to in post-apocalypse brooklyn... "

Getting a little "What-ish" there, Joe!

Hey, I'll suit up and go jogging with you though, to catch Beyonce!

Posted by: benson at March 17, 2009 3:15 PM

OPP is lighting up at night, and the first units to light up were on the low floors on the *back* of the building--the ones I thought would never sell.

People could have backed out and left their deposit money on the table (haven't we been reading about that as another "sign of the times"?) but apparently have not. The lights are on almost to the top of the building now. Wonder what that 6MM penthouse will go for?

Posted by: dylanfan at March 17, 2009 3:17 PM

benson -- I'll be the guy doing pushups on eastern parkway ("a thousand ONE, a thousand TWO... hey, is that my cat up on the richard meier building?")...

I know, it was What-ish. I was bored.

Posted by: joe_the_bummer at March 17, 2009 3:23 PM

11217: or it could have gone for asking and the $54k is some kind of closing adjustment to reflect taxes paid or some such thing (more likely because contract prices tend to end in zeroes).

Interesting find with that Tribeca listing. Of course that place can ask whatever it wants for that place, but I wouldn't be at all surprised if the actual sale price starts with a 3.

Posted by: lechacal at March 17, 2009 3:25 PM

I just took a closer look at 11217's tribeca listing and...wow. I could really get used to that bathtub with the full view of the Manhattan skyline.

Posted by: lechacal at March 17, 2009 3:29 PM

According to Streeteasy, there are three units in contract for over 4 million. One 4.4, one 4.3 and another at 4.1.

Craziness.

Posted by: 11217 at March 17, 2009 3:29 PM

Tribeca listing's website here:

http://www.56leonardtribeca.com/

Impressive.

Posted by: cambridgeplaceholder at March 17, 2009 4:59 PM

"Hey, I'll suit up and go jogging with you though, to catch Beyonce!"

Sounds good to me, too. Let me know when you guys go out there!

Posted by: East New York at March 17, 2009 5:51 PM

Um...let's keep the lewd comments to a minimum guys...okay?...thanks...

What, was EVERYONE drinking beer by 10AM today?

Posted by: BrooklynGreene at March 17, 2009 6:18 PM

Miss Muffet- your comment is stupid. so sick of assholes who think this city runs on wall street money, abig fukc to thme.

Posted by: billyboomer at March 17, 2009 10:44 PM

« Rickshaw Dumplings Invade Dumbo Co-op of the Day: 160 Columbia Heights »

March 17, 2009

Last Week's Biggest Sales

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