I don't know much about the value of this type of apartment because its not my taste and I haven't seen any apartments of this "style". But, I have seen enough apartments to know that once the seller or broker start inventing words, its probably not that great.

Posted by: ks8000 at October 13, 2008 3:09 PM in response to Condo of the Day: J Condo Penthouse

Thanks Miss Muffet. That is a very good description of what I was trying to describe when I used the word "greed", but perhaps there is a better way to phrase it. We will see how it all plays out. Generally, I don't see the market ever tanking too low (the real estate market in Brooklyn) I just don't think people are going to see the kind of returns they used to get. At least not over the next few years.

Posted by: ks8000 at October 13, 2008 2:46 PM in response to A Pair of ProHi Price Cuts

This place is SPECTACULAR, SPACIOUS, and most of all MAGNIFICANT!

Posted by: ks8000 at October 13, 2008 2:29 PM in response to Condo of the Day: J Condo Penthouse

the fact that there might possibly be a sauna is enough for me.

Posted by: ks8000 at October 13, 2008 1:53 PM in response to House of the Day: 448 6th Street

Try Dun Rite on 7th st and 5th. They pick up and deliver in south slope.

Posted by: ks8000 at October 13, 2008 1:43 PM in response to Good Park/South Slope/ Windsor Terrace Dry Cleaner?

at least i am not calling anyone a soul-less vindictive bottom feeder. that's just mean.

Posted by: ks8000 at October 13, 2008 1:39 PM in response to A Pair of ProHi Price Cuts

i disagree: also if you read my first post, i actually commend the houses listed here for getting realistic and am not speaking about any particular house - just your average 1200-1500 sf space that ranged from 1 - 1.7 mm.

Posted by: ks8000 at October 13, 2008 1:37 PM in response to A Pair of ProHi Price Cuts

i disagree: i am so sorry i offended you. i hope i didn't hurt your feelings too.

Posted by: ks8000 at October 13, 2008 1:35 PM in response to A Pair of ProHi Price Cuts

Nokilissa: to clarify, I agree that setting the price high to see what you can get is NOT greedy. At the end of the day, a property is worth what one will pay for it. So - you have to test that. So I didn't mean to imply that setting a high price is greedy. But leaving a price at a high price, for several weeks and months with no offers, can leave a seller in a tough spot if they really need to move. Their weakness in this situation could be greed.

Posted by: ks8000 at October 13, 2008 12:21 PM in response to A Pair of ProHi Price Cuts

Ringo: post 9/11 was different because the event was such an anomoly and people were scared (not just for their money) but for their safety and the safety of their family. once this fear passed everyone realized ny was a safe place to stay so the real estate market bounced back. this is a recession, people have less money to spend. the market will reflect that.

Posted by: ks8000 at October 13, 2008 11:30 AM in response to A Pair of ProHi Price Cuts

Good to see people getting realistic with price cuts. I think we will continue to see people "test the waters" and then slice prices when no offers are coming in. I went to a few open houses this weekend and brokers seems to be either keeping quiet on the whole thing or unaware. I asked one broker how she thought things were faring in the market and she said, "same as it has been all summer." I reminded her that all summer wasn't the same as last week when people lost at least a quarter of their money if they were invested in the market. Personally, I am still interested in buying, but now have less money than I did a month ago or six months ago. Also, I am not going to be the person who bought at the "high" (which is how many of the homes are still priced) of the real estate market when the economy is tanking. I think if people just come down a bit and remember they can't assume they are goign to make 10% 20% from a few years ago, they can still move their places. People just need to be realistic and not greedy.

Posted by: ks8000 at October 13, 2008 10:14 AM in response to A Pair of ProHi Price Cuts

that corcoran place is overpriced too - albeit its getting closer than the the house on windsor. still...in the next few weeks they will be lucky to get 900k. And they should take it and run!

Posted by: ks8000 at October 10, 2008 4:55 PM in response to Open House Picks: Price Cut Edition

THe bird blog is getting old brownstoner.

Posted by: ks8000 at October 10, 2008 3:37 PM in response to Bird Blog: Week 19

My prediction. House on Abermarle sells between 650 and 750. House in WT sells for between 800 and 900.

Posted by: ks8000 at October 10, 2008 1:24 PM in response to Open House Picks: Price Cut Edition

Fjorder make an offer. I bet it won't be completely rejected. Have you seen the apartments? They are small. And I think people are hesistant about this area. Personally, I think the area is great but I overheard several people at the open house asking ridiculous questions about the neighborhood. So maybe no 100k below ask but I bet you both of these apartments sell near the 800k mark. These apartments have been sitting for months, which only means one thing--they are priced too high still. The price reductions occured months ago.

Posted by: ks8000 at October 10, 2008 12:19 PM in response to Checking In on 5One5 Condos

I think the two remaining units will sell 100k below the current prices. They have just been sitting too long. That, combined with current uncertainty, doesn't bode well. They are pretty nice places, just a bit tight.

Posted by: ks8000 at October 10, 2008 11:23 AM in response to Checking In on 5One5 Condos

yes, good indian indeed. i totally agree.

Posted by: ks8000 at October 8, 2008 3:00 PM in response to BBQ Extinguished at Lookout Hill

We tried this restuarant as huge BBQ fans. The food was really bad. Served cold. No vibe at all in the place. I still think we could use another really good mexican restuarant in Park Slope. I can't really name on that is great. Marias=good food, terrible terrible service. Pyramide=Awesome food, way overpriced, terrible decor (But great food, great service). Santa Fe=consistently mediocre, but again, consistent.

Posted by: ks8000 at October 8, 2008 2:56 PM in response to BBQ Extinguished at Lookout Hill

The men are not hotter in Brooklyn. Nice, but not hotter.
Sorry guys!

Posted by: ks8000 at October 6, 2008 3:59 PM in response to Quote of the Day

The 8th street house is dramatically overpriced. It would have to be 4 stories and need little to no work to be priced that high. I believe it won't go for over 1.5 mill. Now, the place on 11th street is getting closer to fair. Although I think it may have to go a little lower but close to asking to sell.

Posted by: ks8000 at October 3, 2008 7:15 PM in response to Open House Picks

The place on waverly did sell fast. The owners had bought it about a year ago and were moving so had to sell (I learned this from the broker when I looked at it). It is a very nice place and at the time I looked at it I thought it was a fair price and would get the asking. I didn't see the rental unit though and assumed it would be nice. I think this place is representative of a good deal on a house that will only increase in value as that zone in clinton hill will only get nicer.

Posted by: ks8000 at October 3, 2008 11:45 AM in response to Just Sold in Brooklyn

497 12th, to clarify my point, by "garden" I meant "garden level" or "lower duplex" as you call it. I think the apartment looks very nice, this was just my personal preference for it not being the right apartment for me.

Posted by: ks8000 at September 30, 2008 2:07 PM in response to Condo of the Day: 497 12th Street, #1R

BKTYCOON: If you ever talk to any of the europeans walking aroudn the neighborhood you'd realize that many of them are working in NY, many in the financial services sector. They will be impacted in many of the same ways. The bottom line is that high prices have been driven by willingness and ability to pay higher prices. In this credit crunch, the willingness will sure be there but the ability won't as banks simply are going to lower the loan amounts given to the most qualified of buyers.

Posted by: ks8000 at September 30, 2008 1:37 PM in response to Last Week's Biggest Sales

The problem with this apartment is that much of the square footage is in the "garden" which appears to be much lower than typical livable "garden levels". Its not quite the basement - but almost.

Posted by: ks8000 at September 30, 2008 1:33 PM in response to Condo of the Day: 497 12th Street, #1R

These prices show that the market is not what is used to be, but still it's not crashing. I think the Windsor Terrace place is a good example. I think it could have gotten the asking last year but it sat on the market a while and ultimately sold a reasonable amount below asking. I think what we are going to see is that the market in Brooklyn will continue to slow, but not crash. Afterall, we know that Brooklyn and NYC in general is an incredibly attractive place to live. What will happen though is the mortgages will become increasingly more difficult to get and there will simply be fewer qualified buyers because of the loss of jobs. Places will sit longer on the market and owners who need to sell will have to take less (and maybe a lot less than they hoped for) in order to move their places. That's my two cents.

Posted by: ks8000 at September 30, 2008 12:53 PM in response to Last Week's Biggest Sales

The layout of the apartment on PPW is really not conducive to a family with two kids - who is the market for this apartment. It simply will not sell for over a million with all the loss of conficence in the market. For those without kids they wouldn't pay the 321 premium. Those places on 2nd street are a totally different story and some have been on the market forever. As usual the apartment is only worth what people are willing to pay and I personally wouldn't pay 1.3 for this place. Would you? I have a few other comps that have dead links now. I hear everyone on the extra square footage - but a lot of it is truly useless square footage. But point taken on the extra bathroom. I'll raise my estimate to 999k.

Posted by: ks8000 at September 25, 2008 6:38 PM in response to Co-op of the Day: 86 Prospect Park West 3 BR

i don't think there is a staff at this building either.

Posted by: ks8000 at September 25, 2008 5:01 PM in response to Co-op of the Day: 86 Prospect Park West 3 BR

clarification - they are both in 321 I think, but still a good comp above lechacal...no?

Posted by: ks8000 at September 25, 2008 3:51 PM in response to Co-op of the Day: 86 Prospect Park West 3 BR

ok lechacal, here you go, http://www.cbhkg.com/listing.asp?propid=73640

now its a bit smaller but has a way better layout, better location and its in PS 321. Tell me it isn't a close comp?

Posted by: ks8000 at September 25, 2008 3:49 PM in response to Co-op of the Day: 86 Prospect Park West 3 BR

No way. Mark my words, this will not sell for a penny about $950,000. I have been looking at 3 beds in PS for almost a year and have seen may better apartments than this go for under $1mm.

Posted by: ks8000 at September 25, 2008 2:03 PM in response to Co-op of the Day: 86 Prospect Park West 3 BR

Oh, I will be so sad to see if the house on ablermarle is really in a terrible location. It's just beautiful. But - as I have learned in the real estate market in NY - it will never be perfect unless you have over $3mm to spend (at least).

Posted by: ks8000 at September 19, 2008 4:52 PM in response to Open House Picks

1.1 is the right price. They are overvaluing the backyard. Definitely $1.1 - a fair price!

Posted by: ks8000 at September 3, 2008 3:08 PM in response to House of the Day: 102 Windsor Place

Its a hoax. a one bedroom in BH for 199 at less than 300/sf. please.

Posted by: ks8000 at August 19, 2008 2:23 PM in response to This CO-OP got me going

People are interested in WT generally because it is a less expensive alternative to Park Slope. No matter how nice it gets it is still less convenient and not as attractive locaion-wise as PS. So, people need to remember that when they price these places. Snark Slope, that place is a nice reno. At $1mm, it will go. They won't even get $1.1 for it.

Posted by: ks8000 at August 8, 2008 2:40 PM in response to Open House Picks

I am in agreement that the WT places are overpriced. In prime park slope, the prices would still be questionable. I think the Windsor Place house looks nice, but small, and the seller will have to drive the price down to sell. There simply isn't enough space to justify this price.

Posted by: ks8000 at August 8, 2008 2:15 PM in response to Open House Picks

I do think that the owner overpaid a bit in 2004. However, the price seems just a little over. I think at 600/sf it would go, the low 400's.

Posted by: ks8000 at July 31, 2008 4:09 PM in response to Co-op of the Day: 396 12th Street, #2R

The point is, still, this is not 2007. I have been looking for the right place for what seems like forever and I can honestly say prices are coming down from 2007, not going up more or less. There are a few exceptions to this for a particularly good apartment (layout, schools, convenience, etc.) but if the place is nothing too unique or has more than one or two trade-offs the prices are coming down. So, this apartment will likely not go for much more than the owner paid for it. Sad for them, but could be worse. As for it being near the a train, true, but the A train is not exactly the best line right?

Posted by: ks8000 at July 30, 2008 4:46 PM in response to Condo of the Day: Resale at The Washington

The point is, still, this is not 2007. I have been looking for the right place for what seems like forever and I can honestly say prices are coming down from 2007, not going up more or less. There are a few exceptions to this for a particularly good apartment (layout, schools, convenience, etc.) but if the place is nothing too unique or has more than one or two trade-offs the prices are coming down. So, this apartment will likely not go for much more than the owner paid for it. Sad for them, but could be worse. As for it being near the a train, true, but the A train is not exactly the best line right?

Posted by: ks8000 at July 30, 2008 4:46 PM in response to Condo of the Day: Resale at The Washington

I would think in this market that the seller should be lucky to recoup closing costs. These apartments have been on the market for a while. The location is less than ideal with a good trek to the subway and limited restuarants, etc. Also the apartments are not so appealing, very cookie cutter. I think these will continue to sit on the market while demand dwindles and supply keeps increasing.

Posted by: ks8000 at July 30, 2008 1:22 PM in response to Condo of the Day: Resale at The Washington

I checked out the place on Waverly a few weeks ago. I think its priced well and very nice. A bit narrow, but in really good condition. I am surprised it isn't gone yet.

Posted by: ks8000 at June 20, 2008 2:43 PM in response to Open House Picks

Thanks for everyone's feedback. I looked into it and found that I can leave the stroller in the basement (which is accessible from the front of the building a few steps down). Also, in rationalizing this, my other option is to spend the same amount of money and move somewhere less convenient. Yes, I would avoid the stairs, but my commute would be longer and getting to restuarants, stores would also be less convenient. So, I am thinking a 5 minute walk up the stairs isn't so bad. Let's see how I feel when I am carrying a 20 pound baby up and down! But, again, thanks so much. This feedback is so helpful!!

Posted by: ks8000 at May 12, 2008 6:34 PM in response to living in a walk-up