Astoria Federal Jumbo Mortgages


I noticed recently that Astoria Federal has capped their jumbo loans at $1.5m, down from $2.5m. They had been one of the few banks in the area making jumbos, albeit at conservative LTVs (50-55%). Anyone know what’s going on in the jumbo market? Doesn’t look like they’re feeling the love from the nascent economic recovery.

Categories: Mortgage
By NorthHeights | 08/12/2009 2:56 PM | Comment

2008 house prices


Now that the city has posted the final update to 2008 sales prices, it looks like at least one part of Brownstone Brooklyn did quite nicely. I found 14 house sales in Brooklyn Heights in both 2007 and 2008. (1, 2 and 3 family. Ignored a few sales of rental walk-ups where it’s impossible to know whether the buyer will convert back to 1, 2 family or turn into condos.)

Median price increased by 1.8% (to $3.5 mil), average price increased by 4% (to $3.85 mil) and the average per-square-foot price increased by 7.1% (to $987).

Interestingly, average discount to initial ask was 12.1%, whereas in 2007, there was an average 1.9% premium to ask.

Categories: Real Estate
By NorthHeights | 01/07/2009 5:56 PM | Comment

1850s Cast Iron Stoop Railing mold available


I came across this listing on eBay for a mold made from a circa 1850s cast iron stoop railing. The listing says it came from a house in Brooklyn Heights. I’m neither the seller nor the home owner, just thought I’d pass this unusual listing along in case anyone local is interested.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=330255447506

Categories: Architectural Salvage
By NorthHeights | 07/23/2008 10:23 AM | Comment