The 338 4th street house in PS seems overpriced at $2.195 million. 336 4th street just next door with the same square footage, according to property shark, sold in 2003 for $1.2million. I can't imagine that the prices could inflate by 80% in 4 years. I can see it being listed for $1.7m or even $1.8m (which assumes 10% price appreciation a year)but $2.195 seems to be a stretch to me. Plus, you can rent it for 7,400 a month and is a better option than paying $13,000 in mortgage payments a month at the current jumbo rate of 7.125%. Your tax deductibility at top rate only reduces it to $6,500 a month but AMT could kick in at some point and reduce the tax deductiblity. In addition, you are going to need to pay for real estate tax, water and heating, and general maintenance cost, which could come out to an additional $500-$1000 a month or $7,000-$7,500 in real cost, which you would otherwise not need to pay if you rented instead. Finally, if you bought, you would have to pay closing and legal fees of between 50k-100k today.

Posted by: dandel at December 8, 2007 12:27 PM in response to Open House Picks

The sale of 799 carroll place at $2.275 million appeared in this weekend's nytimes real estate section's residential sales around the region, with an original listing price of $2.599 million. Here is the link:
http://www.nytimes.com/imagepages/2007/12/29/realestate/30sales_image.html

I see that it is still listed with brooklyn properties at $2.93 mil:

http://www.brooklynproperties.com/house188.htm

The flipper, Daniel Louis Gastel, bought this place from Mary Shanley in Nov07 for $2.275mil and is listing it for sale at $2.93mil

Does anyone have any more color on this transaction?

Posted by: dandel at December 29, 2007 10:57 AM in response to House of the Day: 799 Carroll Street

Actually, 275 washington ave, in clinton hill, or the pratt institute building, was bought for $3 mil back in june of this year, not $3.5mil. He is trying to sell it for a total price of $5.15mil ($3.5mil and $1.65mil) between the mansion and the carriage house, for a prfit of $2.15mil, not $1.65mil.
The flipper who bought the building from the Pratt institute is Lawrence Golde. Anyone know the deal with him? Is he a professional flipper?

Posted by: dandel at December 29, 2007 11:39 AM in response to Six Months Later: Open House Picks 6/29/07

According to Property shark, 216 14 St in Park slope was bought by flm realty enterprises from Jean Mann and Dorothy stasik for $637,00 in 12/06. Subsequently, it was sold to Jayson Halladay for 1,150,00, nearly twice the price flm enterprises paid for merely 6 months ago. Jayson Hallady is how listing it for $1.595 a short few months afterwards. In total, from dec/06 to dec/07, 216 14 st's value jumped by more than 250%. What am I missing here? what is the deal with flm realty enterprises and jayson halladay? are they professional flippers?

Posted by: dandel at January 1, 2008 3:41 PM in response to House of the Day: 216 14th Street

This house was listed for rent by the same Corcoran agent, Nicole Thompson-Adams, back in feb07 for $5,500, and was taken off the market in apr07.

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=943304

Then it was listed at $1.7mil and after a year of not finding a buyer, it is relisted at $1.875mil? What am I missing?

The ratio of the annual rent to price is at the historically low 3.5% when nationally, it used to be 5% or higher.

Posted by: dandel at January 2, 2008 9:44 PM in response to House of the Day: 472 Washington Avenue

According to Property shark, 216 14 St in Park slope was bought by flm realty enterprises from Jean Mann and Dorothy stasik for $637,00 in 12/06. Subsequently, it was sold to Jayson Halladay for 1,150,00, nearly twice the price flm enterprises paid for merely 6 months ago. Jayson Hallady is how listing it for $1.595 a short few months afterwards. In total, from dec/06 to dec/07, 216 14 st's value jumped by more than 250%. What am I missing here? Is this price inflation real? are these people professional flippers?

Posted by: dandel at January 4, 2008 8:44 PM in response to Open House Picks

The south slope house looks expensive to recent comps; 219 14th st just next door sold for $1.15 in April of 2007. Here is the pricing history on streeteasy

Price History for 219 14th street
08/16/2006 Listed with Douglas Elliman at $1,399,999
09/06/2006 Price decreased to $1,325,000
10/13/2006 Price decreased to $1,275,000
04/17/2007 Sale closed for $1,150,000

Posted by: dandel at January 6, 2008 9:28 AM in response to Open House Picks

There is something fishy with the 205 12th street property in Park slope. According to streeteasy, it was listed with Corcoran back in august at 999k and then the website has it as SOLD.

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1058630

However, I am not able to confirm the transaction on propertshark.

It is now being re-listed for 450K more with BP?

Did they lie to us on the Corcoran website to create an illusion that there was a demand for that house out there? That is unethical, no?

Posted by: dandel at February 17, 2008 11:51 AM in response to Open House Picks

78 3rd place is re-priced a second time at $2.7mil, down another 250k and down 795K from the original ask back on jan 8th

Posted by: dandel at February 21, 2008 7:25 PM in response to House of the Day: 78 3rd Place

the price just got reduced to 3.4m

Posted by: dandel at February 27, 2008 6:40 PM in response to House of the Day: 535 1st Street Revisited