150 Bond Finally Sells—For a Loss
The sale of 150 Bond Street, which was a House of the Day a number of times, was recorded in public records yesterday. The price: $1,400,000. The property, which was pitched as a gutted blank slate that would allow its new owner to “build your dream house in Boerum Hill,” first hit the market asking…
The sale of 150 Bond Street, which was a House of the Day a number of times, was recorded in public records yesterday. The price: $1,400,000. The property, which was pitched as a gutted blank slate that would allow its new owner to “build your dream house in Boerum Hill,” first hit the market asking $2,495,000 in March ’08. The price was cut several times until it was asking $1,595,000 this summer. The seller purchased it for $1,725,000 in September ’07. This one seems like it was a victim of unrealistic pricing from the get-go and a down market in which fixer-uppers are a tough sell.
House of the Day: 150 Bond Street Revisited GMAP P*Shark
Open House Picks: Price Cut Edition [Brownstoner]
Houses of the Day: A Couple of Price Cuts [Brownstoner]
House of the Day: 150 Bond Street [Brownstoner]
150 Bond Price History [StreetEasy]
Actually I would qualify as well. I knew my condo in manhattan was getting overpriced and in bubble territory. The sale and purchase in bed Stuy was the best way to monetize it since I didn’t want to rent and thought that neighborhood was good value.
I think my condo today is worth about 35-40% below what comps were in the building at the peak.
🙂
Why am I only getting 4? Why are you disqualifying Miss Muffett and the What????
You are not allowed to be both a judge and a contestant. We need an impartial judge here. Mr. B?
slope, so here is a question…. Don’t you usually secure financing for the remodel before you start gutting the inside? Why would someone gut then apply for loan to remodel?
read the rules.
i give you four.
you’re doing some mighty fine googling.
keep tapping. I am up to 6!
1) John Paulson / Paolo Pellegrini
2) Steven Eisman
3) Andy Lahde
4) Miss Muffett
5) Andy Redleaf
6) The What
you’ve gotten up to 2.
Eisman and Paulson (PP worked for JP so if you want to make a list of employees of Paulson & Co, then include the mailroom dude on your list too.)
i’ll be waiting.
[tapping foot]
Apples to oranges, BHO. The house wasn’t a shell when the seller bought it. See wasder’s post above. The seller apparently robbed the house of value by gutting it and abandoning it when it didn’t need a gut. Some of the 19% haircut seller took is due to waste, not market.
Wasder, fine, I can replace the What with Andrew Lahde.
Did I succeed in meeting your challenge then?
-19% off the brownstone belt peak (arguably the seller’s purchase price). Consistent with the NY Case-Shiller index as most sales discussed here. Where the index goes, Brownstone Brooklyn TM will follow.
***Bid half off peak comps***