Looks like it cost a mil to fix up: http://www.horrigancompanies.com/85state.html
So developer had 4.5 into it + carrying costs for 3.5 years... Classic example of chasing the market down, but I think the buyers done good.

Posted by: tricks73 at November 6, 2009 9:02 PM in response to 85 State's Roller Coaster Ride

Apt 5A at Vermeil was last asking $1.5m but included a spectacular rooftop terrace that was bigger than the apt itself...

Posted by: tricks73 at October 6, 2009 2:37 PM in response to Last Week's Biggest Sales: Bay Ridge on Top

I would need a crazy discount and contingencies up the wazoo to even consider it. My guess is that this developer is posturing as part of his neighbor relations/Brooklyn Friends negotiating.

Posted by: tricks73 at October 5, 2009 5:20 PM in response to Optimism on State Street

The 14 townhouses a block down caught the tail end of the cycle and all went for less than $3m. More than $3m when you can get a place in the Heights for that now is nuts, not to mention that noone in their right mind is signing pre-build contracts no matter how good the developer's reputation.

Posted by: tricks73 at October 5, 2009 2:07 PM in response to Optimism on State Street

The Butler St renovation would suit me just fine and I don't think the proximity to the projects is a huge deal, but the middle school directly opposite certainly would be a dealbreaker for me. Since it went into contract over the summer my guess is the buyer didn't get to see the horror of that place in action...

Posted by: tricks73 at September 22, 2009 3:01 PM in response to Last Week's Biggest Sales

Hopefully they'll make this spot work after the fairly quick transition thru Hill Diner/Hill Restaurant/Miriam. Does seem odd to add another Thai option when the area is rather well-served including by Ghang's own spot a whole block and a half or so away... Maybe they don't plan to renew the lease on that one or someink.

Posted by: tricks73 at September 22, 2009 2:51 PM in response to StreetLevel: Ghang Opens Court Street Outpost

We saw it and can confirm there is a powder room on garden level next to kitchen where a closet is shown on floorplan. In addition to the poor pricing strategy I think the downer is the 80's style reno which leaves you with 20+ year old mechanicals, single pane windows, cheap-looking pine floors and built-ins on parlor floor, and the master suite taking an entire floor so just 3 real bedrooms. The garden level, top floor and yard worked OK for me. 169 Clinton St (which was cut up but MUCH bigger and with 2 or 3 parking spots) was asking $3.2m and a much bigger place on Sidney Place (quieter block) is asking around $3.5m from memory so this doesn't shout value to me at $3m, but I think it will go for close to that, maybe $2.8m...

Posted by: tricks73 at August 25, 2009 3:51 PM in response to House of the Day: 182 Clinton Street

I think "The new owner... may have the option to take over the rented garage parking space adjacent to the building (by separate agreement with neighbor)" implies the garage isn't included... I think 47 Sidney Place (a quieter block) which is asking $3.6 mil makes this puppy look at least three quarters of a mil too dear... For what it's worth this place was originally listed higher - it came on with Corcoran at $5 mil in September but I think Carberry might have had it before that.

Posted by: tricks73 at June 10, 2009 2:12 PM in response to House of the Day: 10 Schermerhorn Street

I would think 22 Strong Place is a better comp (than 72 Hicks St) on a ppsf basis - it is a 25 footer and sold for $2.055 mil ($475/sqft)

Posted by: tricks73 at June 9, 2009 2:10 PM in response to House of the Day: 143 Amity Street

203 Dean was priced at $1.725 out of the gate - not a bargain for estate sale condition but made 291 State St (similar condition but slightly smaller) look way overpriced IMO.

Posted by: tricks73 at June 9, 2009 1:59 PM in response to Last Week's Biggest Sales