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]
Fine, I will replace slopefarm with Kensington then.
I would agree that they are not “evil boogeymen” — they are just people that didn’t check in with rational thought before dropping enormous amounts of cash… and did nothing but buttress the rest of the irrational (and clearly unsustainable) housing market. I’m glad they were slapped HARD. Maybe it will make others think twice before dropping millions on mediocrity.
Oh my lord stevieb—you know nothing if you have listed slopefarm in your perma-bull category. That is so fucking comically wrong. Antidope and DIBS could qualify (and even they have more nuanced opinions than you) but slopefarm is one of the most level-headed, realistic people on this blog. you sir are an idiot of the first order, and I don’t say that lightly.
from neighborhood gossip I don’t think was flipper. I think some inexperienced people bought it to use and ran out of money and/or broke up in middle of process. So
much harder to sell when bldg gutted and lost money.
My very good friends rented in this house for many years with the previous owner, in the ground floor rental. I never saw the main unit but I was surprised to read that the new owners had gutted the place because it seemed to be in mechanically/physically reasonable condition. I definitely think that was the biggest mistake the new owner/flipper made (and no I am not dancing in the street with glee like some) is gutting the place. I mean I guess they thought they were going to have the capital to renovate as well and the mortgage market collapsed. Then they compounded their sin by asking renovated house price for a shell. Still, I am sure they are not the evil boogeymen of some people’s (cough***stevieb****cough) imagination.
what did the widget say?
Thank you! Thank you, tybur6!
Thank you for echoing my sentiment.
These are the worst offenders and enablers of the real estate bubble in descending order:
1) Flippers
2) RE Brokers (libby ryan for example)
3) Perma bulls (slopefarm, 11217, antidope, etc)
They all need to bear responsibility for promoting the real estate bubble that has hurt a lot of working families.
FUCK Y’ALL!!
I have to agree with stevieb’s sentiment here… though I disagree with the use of asterisks. If you’re gonna say it, you have to commit!!
I have a serious case of the ol’ Schadenfreude when I see things like this. I like to see when reality slaps someone in the face, hard — but that’s just me.
Dibs, I think we have room for another 10-15% down, but it will be a slow hiss over the next 3 years. Real estate is a slow animal.