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]
MM, I think Dr. Doom (aka Roubini) is going back on his word and saying recession is coming to the end. Dave and I discussed it few weeks ago.
You’re right about the rest. I don’t see you as a bear or market predictor in any way. You want what everyone in your family and financial situation would want. I bought at the peak but I bought WAY under market so I am not worried at all since my apartment is still worth quiet a bit more than I purchased it for and my monthly outflow is much cheaper than renting the same place. If I was you, I would also keep my fingers crossed for real estate values to drop but I am sure you don’t want them to go much lower otherwise it would be a disaster for the city as a whole and people would just walk away from their mortgages and buying a house would be the least of your worries. I mean you know better when the comfortability of you buying a home will happen just hope you have a time to grab a good buy when you see it. A lot of people are holding a lot of money on the sidelines so don’t be surprised if you get outbid on your dream choices (Happened to me a bunch of times).
I don’t pick fights with normal reasonable people, even if I disagree with their beliefs/opinions.
Miss Muffett…..you are my hero!!!
Thank you, thank you, for being the calm voice of reason in this sea of cacophonous and vitriolic arguments.
We could all learn something from Miss Muffett.
I wish Miss Muffett woud use the “F Word” at least just once. She always sounds so sensible and contained in her emotion about what she herself has said is one of the most emotional topics here in NYC. 🙂
Woo – people are riled up today. Taking my lunchtime break and skimming through and seeing my name here – what about Nouriel Roubini?
Wasder, it’s true that I consider myself lucky and I don’t think I’m smarter than others — though I was thinking, for quite a while before the crash, that the market was unsustainable and was amazed by the brush-off, if not vitriol, I received in response to that attitude.
I think it’s only human nature that real estate arouses such passions – especially in a city like NYC, it cuts to the heart of some thorny class issues. I know all too well how it can provoke envy, longing, anger, schadenfreude, etc. Some of this may be deserved, some not, and it’s really hard to know since it’s all so complex. Personally, I’m just waiting for that nice, modest home (but yes, in a prime area, albeit possibly in the fringes of said prime area) that I can afford for me and my family. I suppose the colorful outbursts make for theatrical fireworks on this blog, but I do wish folks could remain more civil (but maybe that’s a fuddy-duddyish view?)
I think m4l is a “flipper”. Oh no he’s not, he’s Chinese.
people, I am shocked that you are still wasting your time convincing morons who don’t even want to listen to you. Might as well start buying houses and flipping.
stevieb, I have no sympathy for flippers but I equally have no animosity towards them. If they are good at what they do (in terms of renovating, spotting the opportunity and correctly timing the market) then they make money. If not then they don’t.
I do object to people being able to walk away once their equity is wiped out though. Those debts should follow them until fully paid off.
But — to respond to stevie b — I’ve never seen actual sympathy on this site for a flipper. As DIBS and wasder pointed out, it really doesn’t look like this was a flip situation. A flipper would not have gutted if the house was in the condition wasder says it was. Too costly for the return. Original asking price was stupid, but it may have been an act of desparation, not venality.
Agreed, slopefarm. Unscrupulous developers/flippers/renovators are a blight.