« Help from the Feds for Community Gardens? Co-op of the Day: 34 Plaza Street East, #704 »
July 21, 2009
Last Week's Biggest Sales
1. PARK SLOPE $3,525,000
556 1st Street GMAP (left)
This 5-bedroom house was listed for $3,750,000 in November, according to StreetEasy. The listing had the following to say: "Elegant mint 21'+/- Park Slope Brownstone updated with all the modern conveniences. Built in 1910 the original details have been restored to perfection. Enter up steps to the open parlor through a small vestibule lined with mahogany wainscoting. There is a spacious living room with a 3 window bay in the front, a beautiful carved mahogany gas burning fireplace, and an impressive center staircase." Entered into contract on 3/25/09; closed on 6/25/09; deed recorded on 7/17/09.
2. BAY RIDGE $2,525,000
72 80th Street GMAP (right)
This is a 3,488-sf, single-family, according to Property Shark. Entered into contract on 4/1/09; closed on 7/1/09; deed recorded on 7/17/09.
3. PARK SLOPE $2,275,000
586 4th Street GMAP
A year ago, when this was a House of the Day, it was asking $2,999,999; by the time it was an Open House Pick in January, the price was $2,599,999. Its listing said the following: "Located just one door in from Prospect Park, this gracious home was built in 1909 by the street's builder as his own home. It's the largest, most generously proportioned and richly detailed townhouse on the block! The current owners, only the second owners to occupy this home in 99 years, painstakingly preserved period details throughout the entire house from intricate parquet bordered floors to artisan quality plaster crown moldings. With rare 20'x55' dimensions, this house boasts three exposures and a large south-facing garden." Entered into contract on 4/22/09; closed on 6/16/09; deed recorded on 7/14/09.
4. BROOKLYN HEIGHTS $1,934,675
One Brooklyn Bridge Park/360 Furman St, Unit 1218 GMAP
Size unknown. Entered into contract on 7/30/08; closed on 7/9/09; deed recorded on 7/15/09.
5. PARK SLOPE $1,810,000
462A 8th Street GMAP
This townhouse was first listed for $2,396,000 in March, according to StreetEasy, and was last asking $2,050,000 in late April. Entered into contract on 6/18/09; closed on 6/30/09; deed recorded on 7/16/09.
Pics from Property Shark.
Trackback Pings
TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/10683
Comments
That Bay Ridge house is awesome. I don't care what any of you say.
Posted by: dirty_hipster at July 21, 2009 11:34 AM
.....If I were a rich man....I'ld build a house with one stair going up, and another coming down, and one in the middle just for show.....
no middle stair?
Posted by: Minard Lafever at July 21, 2009 11:44 AM
Great reference, Minard!
Posted by: Brenda from Flatbush at July 21, 2009 11:46 AM
Has that BR home won any architectural awards???
Posted by: daveinbedstuy at July 21, 2009 11:50 AM
hmmmm, 2 park block Park Slope townhouses, one on 1st street and one on 4th street.
1st Street goes for $3.5 million, 4th Street goes for $2.3 million.
Why the big difference? Square footage? Condition?
Posted by: Mr Joist at July 21, 2009 11:51 AM
This has to be incorrect information. Miss Muffet told me that no one is buying homes in Park Slope anymore for over 1 million dollars.
The Bay Ridge house rocks.
Posted by: 11217 at July 21, 2009 11:51 AM
How can you see the pics of the BR place? I clicked on the link. Do I have to sign in to Property Shark?
Posted by: Biff Champion at July 21, 2009 11:58 AM
Here's another 1st Street house which finally sold.
No clue for what price, though. I'm guessing from the pics, it needs mucho work.
http://www.streeteasy.com/nyc/sale/166204-townhouse-park-slope-brooklyn
Posted by: 11217 at July 21, 2009 11:58 AM
One of the stairs in BR house is used stricktly for rolling bodies down to the garage for "processing".
Posted by: Kensingtonian at July 21, 2009 12:06 PM
Who wants to live in Bay Ridge??? Who the heck even wants to visit?!?
Posted by: Expert Textpert at July 21, 2009 12:06 PM
I pass the Bay Ridge house on my way to the park often. And its a honey all right. Its a nice block though. Save for, well...
Posted by: italiana71 at July 21, 2009 12:06 PM
So, 11217, that 1st street limestone finally sold? They were asking in the mid to high 3's in early 2008. Can't believe they sold for more than a million less than they were hoping a year ago. That is quite a haircut.
Posted by: Nokilissa at July 21, 2009 12:07 PM
Who wants to live in Bay Ridge??? Who the heck even wants to visit?!?
Posted by: Expert Textpert at July 21, 2009 12:06 PM
BRG does but then again, you're not her so what would you know.
Also I can think of a few Soprano wannabe's that might or might not live on that particular block.
Posted by: Kensingtonian at July 21, 2009 12:07 PM
Um, I live in Bay Ridge. It took one afternoon visit to decide to sell my place in Park Slope and move there. Its a lot differnt from PS but that sometimes can be a good thing as every nabe has their positives and negatives.
Posted by: italiana71 at July 21, 2009 12:12 PM
Ah, Minard, I am going to have one hell of an ear worm for a while! (If I were a rich man... Yubba dibby dibby dibby dibby DUM!)
Posted by: Nokilissa at July 21, 2009 12:14 PM
Yeah, it does indeed look like quite a haircut, Nokilissa. But judging by the couple craptastic photos, it was overpriced to begin with. As most everything was, clearly.
I'm just happy things are still selling...even for clearance prices. And despite the haircuts on all the properties, these prices are still mighty huge. No fall out crash of epic proportions some were suggesting. Just back down to still incredibly expensive home prices.
Posted by: 11217 at July 21, 2009 12:14 PM
Ok folks, over here...yoo hoo! How do I view the BR house pics?
Posted by: Biff Champion at July 21, 2009 12:21 PM
at current pace, how long before I can buy a house in park slope for <$1M?
Posted by: more4less at July 21, 2009 12:21 PM
Dunno Biff. I thought once a listing was sold, they pulled the pics. Could be wrong. You just want fodder for further ridiculing that house, don't you? :)
Posted by: Nokilissa at July 21, 2009 12:23 PM
more4less, I think you'd have a shot at some of the two story homes and some of the south slope homes now. Especially if they needed some work.
Posted by: Nokilissa at July 21, 2009 12:24 PM
Noki, usually I would. But I'm feeling benevolent today. I thought people were looking at more than just the pic of the home from the outside, but I guess that was enough to get them going. I've seen that home in person too. I walked by and did a double take (one take for each staircase)
Posted by: Biff Champion at July 21, 2009 12:25 PM
I'm mesmerized by the BR place. It reminds me of a giant crab. I think it should be officially known as The Crab Shack.
Posted by: Biff Champion at July 21, 2009 12:27 PM
Biff, my dear, the photo at above right is not enough for you? I do hope they carried the staircase theme inside as well. An en suite bathroom with a raised whirlpool tub and a curved staircase going up to it would be grand, as well as with historical precedent (I'm thinking of early bathing pools in 1600s England manor houses). But really it's the garage doors below that are the piece de resistance. I'm sure the buyers could not resist. Look at the price. Perhaps we'll soon see an episode of "Real Housewives of Bay Ridge"?
Posted by: mopar at July 21, 2009 12:28 PM
Noki, those ppties wouldn't be a great deal @ <$1M. am hoping the 1.5-1.6M houses drop to <$1M
Posted by: more4less at July 21, 2009 12:28 PM
I hope the stairs on the BR house can swing open and shut like an ant's mandibles.
Posted by: DitmasSnark at July 21, 2009 12:28 PM
the BR architect should give back her/his license
Posted by: more4less at July 21, 2009 12:30 PM
The BR house is dripping with badda-bing!
Posted by: Minard Lafever at July 21, 2009 12:31 PM
Ive heard of circular driveways in front of homes, but this is a whole new ballgame. Circular staircases. Fugedabowdit.
Posted by: saminthehood at July 21, 2009 12:32 PM
Someone in Mill Basin is missing a home.
Posted by: Biff Champion at July 21, 2009 12:34 PM
Snark, I almost ruined my keyboard. Stop!
Posted by: Montrose Morris at July 21, 2009 12:34 PM
Looks a little like a Wall-e crossed with a Sponge Bob kind of thing. Those stair cases are the long arms ready to scoop and shovel garbage into the mid section.
Posted by: Nokilissa at July 21, 2009 12:36 PM
I missed the memo. When did Mr. B combine the Last Week's Biggest Sales and Horror Show Friday threads?
Posted by: Biff Champion at July 21, 2009 12:41 PM
Stop the snobbery!! Someone obviously likes that BR house very much to drop 2m+ on it. Brooklyn would be really boring if EVERY home was a brownstone.
Posted by: dirty_hipster at July 21, 2009 12:43 PM
Uh oh, I think I just got a time out.
Posted by: Biff Champion at July 21, 2009 12:46 PM
Biff no kidding, when I saw the pic before seeing where the house was I went to myself "Oh, finally someone sells their Mill Basin home". You wont see foreclosures hitting that hood.
Posted by: Kensingtonian at July 21, 2009 12:46 PM
ha ha DH. I can only see the new owner flipping a coin everytime before entering the house to decide which staircase to take :o).
Posted by: Kensingtonian at July 21, 2009 12:48 PM
If i had the scratch i would buy an empty lot in brooklyn and build a huge mc mansion ala MTV Cribs
Oh yeah - anyone see that 'fitty' is selling his greenwich mansion?
http://living.oneindia.in/insync/2009/50-cent-mansion-recession-210709.html
Posted by: dirty_hipster at July 21, 2009 12:55 PM
11217 doesn't comprehend that one goes through 20% before you go through 30, 40, 50. 11217 doesn't comprehend that nycs fall just started. Conclusion? 11217 is an idiot.
Posted by: cornerbodega at July 21, 2009 1:00 PM
M4L:
do you want a 1 family?
there's a really cute place on 15th street - #320 btwn 6th and 7th avenues
asking 965K- prob get it for 100K less!
Posted by: gemini10 at July 21, 2009 1:06 PM
Perhaps someone is buying the BR home and going to renovate it?
I've seen some really "interesting" homes go from interesting to quite nice.
Posted by: italiana71 at July 21, 2009 1:07 PM
this is why I love snarky! Now I have to spray for ants- ewwww. (after I stop laughing).
Posted by: bxgrl at July 21, 2009 1:08 PM
11217 you know I told you no such thing. There are delusional sellers (asking way too much) and delusional buyers (expecting a brownstone for 50 cents). I'm not in the latter category. Our own budget is over a million so it's not a shocker that a gorgeous, large, sunny park block limestone cleared 2 mil. That said, it is encouraging to patient buyers that such a place dropped over 600K from ask in a few short months. Likewise, I saw the 8th Street house, which was in gorgeous, move-in ready condition on a fabulous block. That too dropped 600K from ask pretty quickly. 1st street seems the anamoly (lucky sellers), but these sales, once again show the downward trajectory of the market, where the prospect of a nice house, even in a prime hood, to be had for well under $2mil is certainly possible - especially since prices will only fall further now that the spring buying season is past us. Sellers should take note, and price accordingly.
Posted by: Miss Muffett at July 21, 2009 1:10 PM
I know, MM.
I was just playin' with you.
I'm just happy to see lots of these houses which sat for a while finally sell. At whatever price they got.
Posted by: 11217 at July 21, 2009 1:11 PM
g10, I'm not a snob but rather a massive bargain hunter. that price for something around 15th st would not be juicy enough. Besides, I would love to be in position to tell someone I bought a decent house in park slope for <$1M (not to brag but to have them think "f'ing lucky bastard")
Posted by: more4less at July 21, 2009 1:19 PM
The 1st Street house is quite lovely--pristine parquet floors and loads of original details. And it's 1st Street between PPW and 8th which is once of the nicest blocks in PS.
Posted by: Dean Street at July 21, 2009 1:27 PM
M4L - if you don't need a mansion on the park (so, let's say a decent 3 story below 7 ave), I think buying a house in Park Slope for 1mil is no longer out of the question in the near future. Remember, grand 4 story 20 footers on those blocks were going for 1 mil as recently as 2001-02 (even 2003), before the crazy run-up, and now things are certainly heading back down to 2004, and maybe even lower?
Posted by: Miss Muffett at July 21, 2009 1:31 PM
Hey, look what Biff said about 4th St. back in the day:
"Very nice place and amazing location. And I would prefer to be slightly off PPW, as this home is, as opposed to on PPW. If this goes for well under $3MM, I think that'll be a strong indication that even the most desirable 'hoods in Brooklyn are suffering.
Posted by: Biff Champion at July 21, 2008 1:54 PM"
So desirable hoods are suffering!?
Posted by: mopar at July 21, 2009 1:34 PM
My immediate thoughts on the Bay Ridge house: "Say hello to my little friend!"
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 21, 2009 1:35 PM
We're already at mid-2005, according to Elliman last week, right? That's with 20 percent down YOY across the board.
Posted by: mopar at July 21, 2009 1:36 PM
I'm not sure why anyone thought desirable hoods wouldn't suffer.
That being said, I think that PS is suffering a whole lot less than less desirable neighborhoods.
The inventory in PS right is absolutely scarce. And if you look at streeteasy, a TON of apartments sold this spring, albeit at lower prices.
Gosh I hadn't realized until now how sick I am of talking about home prices. Who cares anymore really unless you're buying or selling?!?
Posted by: 11217 at July 21, 2009 1:38 PM
Ah, I was so much younger then, mopar. Yet that was quite prescient of me, I believe.
"So desirable hoods are suffering!?"
I would have to answer that with a resounding yes.
Posted by: Biff Champion at July 21, 2009 1:41 PM
Yes, mopar - desirable neighborhoods are suffering. Take a look at the listings in these areas and you will find houses that are not budging since they are overpriced. Serious sellers need to look at the declining comps and get realistic.
Posted by: Miss Muffett at July 21, 2009 1:42 PM
"Gosh I hadn't realized until now how sick I am of talking about home prices. Who cares anymore really unless you're buying or selling?!?"
Yeah 11217 - no kidding. The biggest sales are always 2 mil+ and the bulls always say "look, 2 million - the market is still strong"
and the bears always say "but it was 600k under ask - the market is tanking"
then the bulls say "that was an unreasonable ask to begin with, and is not a good indicator of the market"
same old stuff - every week.
Posted by: dirty_hipster at July 21, 2009 1:44 PM
Wow, take a gander at a couple other comments from the HOTD listing:
"This is a clear winner. I can't imagine them having any problem getting their price."
Posted by: cgguy at July 21, 2008 1:56 PM
"I'll predict it will go for over, as a bidding war will ensue. But what do I know?"
Posted by: new2hood at July 21, 2008 2:52 PM
Posted by: Biff Champion at July 21, 2009 1:46 PM
But dirty hipster, a 4-story gorgeous PS brownstone among the Biggest sales this week is NOT 2mi+ as you say "they always are". The fact that that house sold for 1.8, and NOT 2.4 *is* very significant. As someone actively in the market to buy a house, I'm not sick of talking about prices at all, since they are very dynamic right now - dynamically heading down. That means a lot to me (and other buyers) since it has a huge impact on what we can buy, and how much income pressure we have to pay our mortgage.
Posted by: Miss Muffett at July 21, 2009 1:53 PM
Hey Biff, did you see my comments on the old HOTD:
"I'm guessing it goes for 2.6. Less if it needs mechanical updates."
and
"The last few 'biggest sales' in the Slope listed on this blog all went for below ask. Why should this one fare any better?"
Hurray for me.
Posted by: DitmasSnark at July 21, 2009 1:55 PM
You need to get a grip MM and realize that there are way more important problems in the world than being able to differentiate between being able to afford a 2.4 or 1.8 million dollar home.
We are all WELL AWARE that you aren't sick of talking about it. Trust me.
Posted by: 11217 at July 21, 2009 1:55 PM
11217 - trust me, I know there are lot more important problems in the world - I deal with them in my work. Doesn't mean I don't think a lot about a home for my family. And the craziness of NYC prices (implied by your post) is right on - even with a big crash of prices, let's say 50% (not saying I'm sure that will happen), they will indeed *still* be very high. OK, lunch break is over - back to work.
Posted by: Miss Muffett at July 21, 2009 2:00 PM
true story:
the owner of the bay ridge house owns an extermination company and got the architectural inspiration from this:
http://tinyurl.com/nvvq28
Posted by: goldie at July 21, 2009 2:03 PM
Muffet said: "M4L - if you don't need a mansion on the park (so, let's say a decent 3 story below 7 ave), I think buying a house in Park Slope for 1mil is no longer out of the question in the near future."
Bet of the Day: A habitable (not a shell) 3-story townhouse, in Park Slope area bounded by 5th Ave - 7th Ave, north of 9th Street, can buy purchased for $1 million or less.
Keep dreaming, not going to happen. I'll take 10 bets at $1,000 each that this doesn't happen in the next 10 years.
Posted by: Mr Joist at July 21, 2009 2:05 PM
Well, Bay Ridge is certainly suffering with that house.
Posted by: mopar at July 21, 2009 2:05 PM
I selfishly hope overall mkt does not tank too much further else I work about my job and pray I'm the "f'ing lucky bastard" to come across a desperate seller and achieve the magical 50% off peak
Posted by: more4less at July 21, 2009 2:07 PM
But this blog IS about discussing the difference between a $2.4MM or a $1.8MM home. The other problems of the world should be addresses elsewhere like perhaps ParkSlopeParents or Oprah.
Posted by: daveinbedstuy at July 21, 2009 2:08 PM
Mr Joist, you serious with the wager? we put put the wager $$$ in an escrow account? am asking cause I'm seriously interested in taking the full $10k bet
Posted by: more4less at July 21, 2009 2:14 PM
"Hey Biff, did you see my comments on the old HOTD"
DitmasSnark, I did and was going to post those too but you've already received enough accolades and I didn't want your head to get to big. Having said that, your granny comment in the HOTD thread was hilarious. And I experienced some teary-eyed nostalgia seeing SnarkSlope as the commenter in the initial HOTD thread. Our little Snark is all grown up...and living in another neighbourhood.
Posted by: Biff Champion at July 21, 2009 2:17 PM
M4L, you're starting to sound like my in-laws!
Posted by: Biff Champion at July 21, 2009 2:27 PM
I hear that Dave. It all just seems so redundant though. Maybe it's me....I think I'm just getting bored of Brownstoner. I'm more interested in the store/restaurant openings and closings at this point than I am about the rest.
I know...GASP. Never thought I'd see the day.
Speaking of, have we lost a bunch of posters while I was away? Crowd seems to have thinned out, but I guess that's just summertime.
Posted by: 11217 at July 21, 2009 2:27 PM
11217, have you tried cafe regular du nord (which, oddly, is actually run by a Brit)? Yesterday was opening day. I myself have not yet tried it, as I drink my morning coffee at home and they don't appear to serve G&Ts.
Posted by: lechacal at July 21, 2009 3:07 PM
why no commenting on sale for $3.5M?
How many houses total have sold for over $3m in Park Slope
in last 5 years?
My guess about 15.
Posted by: Petebklyn at July 21, 2009 3:13 PM
Lechacal:
I tried to stop in last night, but they had closed about a minute before I got there. I did walk in though and have been following construction. It's just about the cutest coffee shop I've ever seen or been in. I know a few people who have gone and said the coffee is superb.
I think the guy is from Dublin, actually.
http://newyork.grubstreet.com/2009/07/caf_regular_du_nord_serves_la.html
I'm looking forward to hopefully trying it out tomorrow.
Posted by: 11217 at July 21, 2009 3:23 PM
I'm getting a wooly mammoth long curved tusky vibe from the BR house. Especially with the ice age snow effect.
Posted by: dittoburg at July 21, 2009 3:35 PM
> Our little Snark is all grown up...and living in another neighbourhood.
Indeed. And loving the new neighborhood and apartment.
Posted by: DitmasSnark at July 21, 2009 3:36 PM
Snarky, checked out any new places in Ditmas yet? I hope you grabbed a drink at Sycamore.
Posted by: Kensingtonian at July 21, 2009 3:37 PM
Kensingtonian - I love the garden and the vibe at Sycamore.
The Farm does a nice brunch and also has a nice garden in back. Picket Fence has a pleasant outdoor space, but I'm thinking the food needs to be better or cheaper.
I had some good pizza at San Remo. I also tried the Tibetan place, with mixed results.
Oh yeah, the chicken mole at Cico de Mayo was pretty tasty.
Any recommendations on the Chinese places in the area?
Posted by: DitmasSnark at July 21, 2009 3:47 PM
Snark, very happy to hear you're enjoying the new neighbourhood and apartment.
Kens, I have to meet you and sixyears sometime at Sycamore after hearing so much about it. Let me know when you're next going. Since Snark will likely not want to join, we'll have to just look around and try to guess which one he is. Likely the one holding court with people laughing hysterically around him. Snark, I'll be the one being held in court with paople laughing hysterically at me.
Posted by: Biff Champion at July 21, 2009 3:56 PM
Snark, I actually wasn't crazy about The Farm. I like the Pomme De Terre better since it's the same owners.
Picket Fence used to be good but has gotten worse. I enjoy their brunch but it's a hit or miss. I've given up on them and prefer lunch in Red Hook lately (easy 5-10 minute drive and park for me).
Never tried San Remo but heard a lot of good things about their pizza and dishes. didn't like the Tibetan Place and wasn't impressed with the Mimi's Hummus place as well even though they were super nice and it was tasty, I just had way better before.
Sorry, I have horrible taste in Chinese food (I like the regular Americanized crap) so I would be the wrong person to ask about that recommendation. Maybe Sixyears can comment on that.
Cinco de Mayo is pretty good but again, had way better Mexican before. I am a hard person to please.
BTW, I had very good dinner at Visions on Cortelyou and Coney Island. I would highly recommend it, even though their service was a bit lacking.
Posted by: Kensingtonian at July 21, 2009 4:04 PM
Biff, pick an evening during the week and email me and six and we can go grab a drink there. I am game for whenever as long as I know ahead of time.
Posted by: Kensingtonian at July 21, 2009 4:07 PM
Oh Biff, here's a chance to laugh at Snarky:
I was walking down Cortelyou Road reading the signage and noticed a restaurant named NEW NEI GHBOR.
"Nei Ghbor," I thought to myself. "Is that in Cambodia?"
Then I figured it out.
Posted by: DitmasSnark at July 21, 2009 4:07 PM
> I had very good dinner at Visions
Thanks for the tip. The name and signage left me with a dubious impression, but I'll give them a whirl.
Been meaning to try Pomme de Terre as well.
Posted by: DitmasSnark at July 21, 2009 4:12 PM
Snark, that is very funny. Not to create an outbreak of Neighbourhood Hypersensitivity Syndrome in others, but what is it about Ditmas Park that you prefer to Park Slope. I don't know Ditmas Park at all so I have no opinion of it other than it sounds cool based on what you, Kens and sixyears say. Park Slope seems pretty idyllic to me.
Kens, what are you up to this weekend?
Posted by: Biff Champion at July 21, 2009 4:12 PM
More4less said: "Mr Joist, you serious with the wager? we put the wager $$$ in an escrow account? am asking cause I'm seriously interested in taking the full $10k bet"
Yes, I'm serious but only $1,000 per customer (but up to 10 customers). I'm happy to have Brownstoner as escrow agent.
Only question is how we define "habitable." I'm not talking about some broken down sh*t show with rent stabilized tenants that will take $400,000 to rehab (but I'm not talking mint or renovated either). If we can agree on a definition of "habitable" with reasonable specificity, I'll cut a check tomorrow to Brownstoner escrow agent.
Bet of the Day: A habitable (not a shell) 3-story townhouse, in Park Slope area bounded by 5th Ave - 7th Ave, north of 9th Street, can buy purchased for $1 million or less.
Posted by: Mr Joist at July 21, 2009 4:28 PM
Also, I said 10 years in my original post ... that's a bit long for a bet like this ... please suggest a reasonable timeframe.
Posted by: Mr Joist at July 21, 2009 4:31 PM
Snarky, I also walked by and refused to go in for a while based on the signage and the fact that there is always like 2 people at most inside the place.
I did once after a friend tried it first and was pleasantly surprised by the food. Having said that, I don't think it'll survive for much longer if they keep on having 2 tables busy the whole night.
Posted by: Kensingtonian at July 21, 2009 4:42 PM
Biff, this weekend am busy (wedding in New Paltz), we can do anytime during the week next week (wed and thur sounds ideal). Check with six on his availability.
Posted by: Kensingtonian at July 21, 2009 4:43 PM
Mr Joist, the 10 yrs reference is what made the bet so outrageous (& juicy) for me to take your bet. if you still offering the 10 yrs, I happily would like to wager $10k (or more if you wish) that a house (excl shells, rent stablized tenants,...) will sell for $1M or less.
Posted by: more4less at July 21, 2009 4:48 PM
Kens, sounds good. I'm sans family for awhile so free to hang out. I'll check with six.
Posted by: Biff Champion at July 21, 2009 5:02 PM
> what is it about Ditmas Park that you prefer to Park Slope
Biff, that's a question that challenges my usual brevity.
Perhaps it is a topic best explored over alcohol? Let me know if you are meeting folks at Sycamore next week. I might be persuaded to break my "no meatspace" rule.
ditmassnark (at) yahoo (dot) com
Posted by: DitmasSnark at July 21, 2009 5:12 PM
Good job Park Slope!
Posted by: jack slade at July 21, 2009 5:35 PM
more4less: ok, 10 years it is ... but seriously, we're going to each give Brownstoner $1,000 and check back with him in July 2019? If he (or someone else trustworthy) agrees, I'm game. If not, it can be a "gentlemen's agreement" ... we can exchange contact info, etc.
Also, just curious, why is the 10 year period so outrageous & juicy?
Lastly, finally, some "Bear/Bull Money Where Their Mouth Is" correspondence. Where's "Miss - I have 1 million dollars - Muffet"?
Posted by: Mr Joist at July 21, 2009 5:38 PM
Mr Joist, $1k is not worth the hassle. $10k or more, yes (ie fees to cover escrow acct, lawyer drafting contract, independent party to validate transaction at $1M or less). if you want a friendly wager, I'm game. Join us at the next brownstoner gathering and we'll firm up a friendly wager face - face.
the reason why the ten yrs is super key (disclosing this since we're not wagering big $$$) is strange crap happens in life and 10 yrs is long enough time for some crap to happen whereby a seller "HAS" to sell ASAP - making it a prime situation for a scenario for someone to buy it for $1M or lower. for example, a spiteful spouse in a nasty divorce can choose to sell it way below mkt just to screw over the other spouse. crap like that doesn't happen all the time (ie rare) but over 10 yr span, odds are decent something like that will happen.
that's my view point on getting a ppty for cheap. not banking on overall mkt to tank but rather hoping to be lucky in running into such a seller
Posted by: more4less at July 21, 2009 5:49 PM
Hah! Ok, I hear you on the 'Black Swan' type of seller event BUT in a competitive market, buyers will compete amongst themselves to raise the price to "market" even if the seller is in desperate straits UNLESS market demand is so weak that the "market-clearing" price is under $1MM, which is still what I think will not happen in the next 10 years.
Anyway, I now have a few good reasons to make my first appearance at a Brownstoner drinks thing to make our $1k handshake wager (no lawyers needed!).
Posted by: Mr Joist at July 21, 2009 6:00 PM
You will need to make some very specific definitions for this wager, because a 4 story brownstone on Berkeley Place between 7th and 8th sold for $900,000 this past year. It was the bargain of the century. I found out about it through a neighbor and since the guy had died and owned 3 brownstones on the block, the wife just wanted to get rid of them. I think one of the others sold for not too much over a million (1.2 maybe) and then the daughter kept one.
I posted it here on brownstoner, and no one seemed interested.
It is now almost totally renovated, and they got ONE HECK of a deal!
Posted by: 11217 at July 21, 2009 6:04 PM
Wow I just went back and read all the original comments on the 4th Street house and many people were saying last summer that $3million was a bargain, and yet it sold for nearly $800K less! What a difference a year makes. Mr. Joist, you may find this hard to believe, but I don't take $1000 lightly, and I also don't care to wait 10 years to resolve a bet, so I will pass on your challenge. Besides, if we find a habitable brownstone for $1million, that will be prize enough! We are actually willing to spend more than that, but getting more resolved by the day to not overspend, given market direction.
Posted by: Miss Muffett at July 21, 2009 11:26 PM
We are in the greatest economic depression in years and the knuckleheads are still incredulous!
Keep on keeping on..
The What (I can't wait to see the look on your faces)
Someday this war is gonna end...
Posted by: Return of The What at July 22, 2009 1:09 AM
how did I miss all this chat about Ditmas Park?
Kens, you have to check out San Remo at the back (or in the garden) - proper comfort food and good prices (certainly compared to PdT, Farm, Picket Fences, etc).
As for why Ditmas Park is better than Park Slope? It's where the cool chickens hang out.
Posted by: the chicken at July 22, 2009 9:38 AM
Latest Restaurant Additions
-
Le Barricou
added November 20, 2009 12:00 PM in Williamsburg -
Der Schwarze Kölner
added November 19, 2009 12:00 PM in Fort Greene -
Oak Wine Bar & Café
added November 18, 2009 12:00 PM in Williamsburg -
Mr. Wonton
added November 17, 2009 12:00 PM in Park Slope -
Casa Rosa
added November 16, 2009 12:00 PM in Carroll Gardens -
Cousin John's Café & Bakery
added November 13, 2009 12:00 PM in Park Slope -
Elote
added November 12, 2009 12:00 PM in Williamsburg -
Miracle Grill
added November 11, 2009 12:00 PM in Park Slope -
Phoebe's Cafe
added November 10, 2009 12:00 PM in Williamsburg -
Ruthie's
added November 9, 2009 12:00 PM in Clinton Hill, Downtown Brooklyn
Post a comment
Please be patient while your comment is published. It may take a moment.