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August 4, 2009

Last Week's Biggest Sales

biggest%20sales%2008-4-2009.jpg
1. MIDWOOD $3,420,000
809 Avenue K GMAP (left)
This is a 3,375-sf, single-family house, according to Property Shark. Entered into contract on 9/9/08; closed on 7/14/09; deed recorded on 7/28/09.

2. PARK SLOPE $2,460,000
535 1st Street GMAP (right)
This 4,420-sf limestone had a long sales history: It was first listed for $3,500,000 in 2006, and by the time it made its second appearance as a House of the Day, in January '08, was asking $3,675,000. Entered into contract on 4/27/09; closed on 7/17/09; deed recorded on 7/30/09.

3. BOERUM HILL $2,150,000
179 Bergen Street GMAP
When this townhouse was a House of the Day in April, it was asking $2,375,000. The widget guesstimate clocked in at $1,904,681. Entered into contract on 6/10/09; closed on 7/23/09; deed recorded on 7/30/09.

4. PARK SLOPE $1,450,000
139 5th Avenue GMAP
This is a 3-family building with a commercial space, according to Property Shark. Entered into contract on 5/12/09; closed on 7/8/09; deed recorded on 7/27/09.

5. BROOKLYN HEIGHTS $1,300,000
25 Willow Place GMAP
More than a year ago the Brooklyn Heights Association newsletter spotlighted 25 Willow as one of several properties in the neighborhood that had seen better days: 25 Willow Place has been vacant for over 40 years, according to the newsletter, and "The house may soon be a candidate for Demolition by Neglect, a provision of the NYC Landmarks Law that allows the Commission to take an owner to court in order to save a landmarked building from irreparable deterioration." It was first listed for $2.4 million in November '08 and is a 2,920-sf, 2-family, according to Property Shark. Entered into contract on 6/20/09; closed on 7/2/09; deed recorded on 7/31/09.

Pics from Property Shark.

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Comments

3 1/2 million dollars to live in a wood frame house in midwood?! gack! sick sick sick sick sick sick sick sick sick

*rob*

Posted by: PitbullNYC at August 4, 2009 11:37 AM

brownstones 45.8% off!

Posted by: the chicken at August 4, 2009 11:45 AM

Rob,
that's one of those sephardic jewish areas - not to be taken as anything close to reality.

Posted by: the chicken at August 4, 2009 11:47 AM

that's a long time to be in contract on midwood, is this going to be a tear down?

Posted by: DeLepp at August 4, 2009 11:48 AM

So a house in Midwood selling for $1,000/ft2 is not close to reality? How about $1,000/ft2 for a loft in DUMBO?

Posted by: Sparafucile at August 4, 2009 11:51 AM

That 1st Street house needs a LOT of work.

The asking price was absurd, given the condition.

Posted by: 11217 at August 4, 2009 11:55 AM

could have added:

HOTD 4/16/09: 501 Bainbridge sold 8/3/09 for original ask 525 despite price chop. Anything to add M4L? You confidently (always, always) declared 425 was the clearing price. That's 24% higher than widget/M4L.

HOTD 4/29/09: 179 Bergen clocked in at 13% over widget.

Brickoven have you done your homework?

Posted by: antidope at August 4, 2009 11:57 AM

Midwood isn't hip enough to be part of this website's reality, that's why the prices should be much much lower than Dumbo. Where would my dog get an organic shampoo in Midwood? nowhere. i wouldn't even be within walking distance of a West Elm if I lived in Midwood!

Posted by: TD at August 4, 2009 11:59 AM

I get 29.7% off on the 1st street house.

Posted by: cottontop at August 4, 2009 12:01 PM

"So a house in Midwood selling for $1,000/ft2 is not close to reality? How about $1,000/ft2 for a loft in DUMBO?

Posted by: Sparafucile at August 4, 2009 11:51 AM"

Not sure what point you are making. Are you saying that the Midwood is not that expensive because DUMBO is a similar price per square foot? Or are you saying DUMBO is too expensive also?

Posted by: the chicken at August 4, 2009 12:06 PM

Antidope, when you grew a set between your legs and step forth with some $$$ to match your loud mouth, then we can have a serious debate.

Posted by: more4less at August 4, 2009 12:37 PM

I remember when the agents for that 1st St house told me that the sellers would never even listen to anything under $3M.

Posted by: crank at August 4, 2009 12:48 PM

Midwood is an anomaly. As The Chicken said - its partially comprised of the heavily Syrian jewish (and wealthy!) enclave. (They all leave en masse during the summer to the Jersey shore, where they have bigger and more expensive homes). You cannot use that area as a barometer for Brooklyn.

Posted by: saminthehood at August 4, 2009 1:02 PM

who's screaming M4L? i can practically hear you from here. nice, creative use of english, btw. you should get a book deal any moment.

Posted by: antidope at August 4, 2009 1:09 PM

Antidope, you're on the sidelines who likes to debate just for argument sake. you want to be taken seriously, get onto the court / game and choose a side, put some skin in the game,....

Posted by: more4less at August 4, 2009 1:17 PM

I'm not sure why antidope is being picked on. He/she seems to bring a lot of useful FACTS to the table.

Which is a lot more than I can say for most others here.

Thanks for your insight antidope. I like people who can give examples and back them up.

Posted by: 11217 at August 4, 2009 1:26 PM

11217, Antidope and I were debating last week then suddenly threw "Pathetic" and "bromide" into my face. Now solicits my reaction/response with initial post above. My reaction is very appropriate. You know me. I don't start on someone unless they act stupid toward me first

Posted by: more4less at August 4, 2009 1:38 PM

He/she appreciates any and all support in the battle against the Idiocracy.

I KNOW YOU OWEN MEANY, ER I MEAN MORE4LESS. ALWAYS SCREAMING. ALWAYS DECLARING. ALWAYS DEMANDING...

and as far as I can tell always wrong. to date. i'll give you that. it could change.

Posted by: antidope at August 4, 2009 1:49 PM

25 Willow Place
Not much to reuse on this property other than the facade and party walls. Eventhough it was acquired at a significant discount to original ask, $1,300,000 works out to about $325 psf based on a potential rebuilt envelope of approx 4,000 sf. Deduct $75 psf for the reusable structure in-place and you get $250 per buildable sf. This seems high to me as land was trading for no more than $225 FAR in the Heights at the top of the market two years ago.

Posted by: ITM at August 4, 2009 1:50 PM

Antidope, when you start threwing "Pathetic", "bromide" around liberally to others, you might as well include "retard", "asshat",... cause you became him in my eyes (ie not worth debating when someone is purposely looking for a fight)

Posted by: more4less at August 4, 2009 1:54 PM

M4L:

This coming from someone who is constantly talking about wanting to watch people argue on here...?

I don't get it.

But I'm not involved, so I'll shut my pie hole.

Posted by: 11217 at August 4, 2009 2:00 PM

Mmmmmmm, pie.

Posted by: DitmasSnark at August 4, 2009 2:02 PM

did i touch an exposed nerve, m4l?

Posted by: antidope at August 4, 2009 2:03 PM

11217, I don't mind the arguing at all (reading or involved - enjoy them both). Since you asked, I explained why.

Posted by: more4less at August 4, 2009 2:08 PM

DOPE, STFU - that's the kind of exchange you want, my pleasure to serve it up to you. STFU STFU. guess only reason you cant STFU is cause you got no $$$ where your loud mouth is.

Posted by: more4less at August 4, 2009 2:09 PM

25 Willow Place
Buyer is an architect so assume some cost savings on the reno.
Location (next to MTA plant) limits the upside on this one, though.

Posted by: NorthHeights at August 4, 2009 2:40 PM

25 Willow Place. Empty for 40 years. Wow. I'd like to see the inspection report on that one.

Rest of these seem pretty much business as usual.

Posted by: mopar at August 4, 2009 3:10 PM

25 Willow Place. Empty for 40 years. Wow. I'd like to see the inspection report on that one.

Rest of these seem pretty much business as usual.

Posted by: mopar at August 4, 2009 3:10 PM

25 Willow Place
What am I missing? From Google StreeView it seems in ok shape. Facade looks ok, same with windows and cornice.

It's the lot right next to the big warehouse building, right?

$700k on renovation and you have a 4-story townhouse in Brooklyn Heights for under $2 million.

Posted by: Mr Joist at August 4, 2009 6:35 PM

1st street place realistically needs $750K-$1mill of work so add that fig to the selling price and you have the original asking range.

contrast with the place up the block that was in good condition and sold a few weeks ago for north of 3.5. this block hasn't lost a step.

Posted by: BrooklynLove at August 4, 2009 9:35 PM

Well, perhaps no one is reading anymore (another super busy day at work) but I find it fascinating to read the original HOTD comments on 1st St, including those by folks who thought 3 mil was a bargain, and of course it would sell at 3mil+ yadda yadda.

Posted by: Miss Muffett at August 4, 2009 9:37 PM

Funny how you move the goal posts, Brooklyn Love. Back in Jan 08 when this was HOTD, you wrote:

pretty much nothing going at below 3 mill on this block anymore. that cherry popped in these parts years ago. have a look at the sales data.

I didn't hear you talking about all the work needed back then...

Posted by: Miss Muffett at August 4, 2009 9:49 PM

read my comment above you dimwit.

Posted by: BrooklynLove at August 5, 2009 8:51 PM

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August 4, 2009

Last Week's Biggest Sales

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