« Checking In On 105 Lexington Avenue Open House Picks »

May 15, 2009

Open House Picks: Six Months Later

OHP-6months-111409.jpg
Comment: Lower prices but at least some deals are getting done.
Open House Picks 11/14/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]




Posted by Brownstoner at 12:40 PM | Comments (19)
Categories: Open Houses, Six Months Later

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Comments

Wrong link to Open House Picks

Posted by: daveinbedstuy at May 15, 2009 12:45 PM

Wrong link again

Posted by: gemini10 at May 15, 2009 12:58 PM

Ok - well I always loved that Red Hook house - so am happy they got a bit over their asking price
cute house - great little area over there

What's up with State Street - I mean you would think 850K could move this,right?

Posted by: gemini10 at May 15, 2009 1:26 PM

death by a thousand cuts...

wait for the 2nd shoe to drop on the economy when everyone realizes there's no 2nd half recovery.

Posted by: MoneyForNothing at May 15, 2009 1:41 PM

"An identical house just down the block on 1st Street sold for $1.75 million in 2006. That year is pretty close to the peak of the market...the question now is how far off of the peak are we now. I guess we will find out when this house goes to contract."

Posted by: Brownstonebabe at November 18, 2008 11:22 AM

(1.5 - 1.75)/1.75 x 100% = -14%. Pretty damn correlated with the NY Case-Killer index.

***Bid half off peak comps***

Posted by: Brownstones Half Off at May 15, 2009 1:48 PM

Yes, Red Hook place looks lovely.

Posted by: Nomi at May 15, 2009 1:52 PM

(1.5 - 1.75)/1.75 x 100% = -14%

And yet nowhere near half off!!!!! The economic numbers have stopped deteriorating.

Posted by: daveinbedstuy at May 15, 2009 2:03 PM

1st street will close well below 1.5

Seller really needs/wants to get rid of it.

Posted by: jasetheace at May 15, 2009 2:08 PM

but 1.5 is just the most recent ask, not the contract price, and the 1.75 was six months ago, so it's not a "peak comp". plus, I don't think BHO is calling a bottom yet. so leave the poor guy alone. he's doing God's work here.

Posted by: joe_the_bummer at May 15, 2009 2:09 PM

> "The economic numbers have stopped deteriorating."

LOL. Good one, Dave.

Posted by: SnarkSlope at May 15, 2009 2:12 PM

"And yet nowhere near half off!!!!!"

Beautiful snapshot! Was not YET triple in 2000 but was well on the way. We're still rolling.

"The economic numbers have stopped deteriorating."

You mean Chrysler and GM are not closing down dealerships afterall?

***Bid half off peak comps***

Posted by: Brownstones Half Off at May 15, 2009 2:18 PM

I sniffed around the 1st St. house (it's very cute). There was some talk of an offer at $1.3M.

Anyway, it's still not half off (and I still wonder whether I should've made an offer on the 1st St. house).

Posted by: infirm at May 15, 2009 2:49 PM

One that *will* probably end up around half off is 318 1st, on the same side of the same block as 356, essentially the same house (if anything, less desirable, since it's near the parking lot of the bank on the corner of 5th). I could never understand how 318 was on the market for $1.875 when 356 was asking $1.5.

http://www.streeteasy.com/nyc/house/318-1-street-brooklyn

And if you look, 318 had been listed for $2.3M last fall. So yes, that one will probably go for around a 40-50% price cut (based on $2.3M).

Posted by: infirm at May 15, 2009 3:05 PM

Dudes, that's a huge price drop on Boerum Hill. Is the site radioactive?

Posted by: mopar at May 15, 2009 3:18 PM

infirm, we're looking for 50 percent discounts off selling prices. Wake me when 1st St. sells for half the price one of its neighbors did.

Posted by: mopar at May 15, 2009 3:23 PM

> (1.5 - 1.75)/1.75 x 100% = -14%
> And yet nowhere near half off!!!!!"

Oh good grief. 14% (possibly more) off for a house in one of the most sought-after school districts in one of the most resilient neighborhoods price-wise in the whole city. What do you think that translates to everywhere else?

> The economic numbers have stopped deteriorating.

Clap harder! Clap harder!

Posted by: Smudge at May 15, 2009 3:26 PM

Oh -- Just checked the listing. Boerum Hill is radioactive. Sorry. $600,000.

The Red Hook house is indeed adorable. I wouldn't mind living there.

Smudge, ssssshhhh. Don't say Park Slope is "sought after." Might keep the prices up.

Posted by: mopar at May 15, 2009 3:31 PM

State st was purchased last in 1977. LisPendens filed last year. Could be elderly person who ended up in nursing home or whatever.
Probably needs major work but someone wants this settled and over quick so will be bargain for whoever is ready to jump. (and ready to do the work).

Posted by: Petebklyn at May 15, 2009 4:15 PM

Boerum Hill (State St.) listing is gutted but not renovated, according to the listing. Photos don't show a gut but rather badly deteriorated baseboard heaters and strangely primed walls.

Posted by: mopar at May 15, 2009 4:38 PM

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