Last Week's Biggest Sales
1. COBBLE HILL $1,615,000 137 Kane Street GMAP (left) This 3,264-sf, 4-family was listed for $1,749,000 in July, according to StreetEasy. Its listing said it had been gut renovated. Entered into contract on 10/19/09; closed on 11/20/09; deed recorded on 11/30/09. 2. PARK SLOPE $1,345,500 376 8th Street GMAP (right) This 2,520-sf, 2-family brownstone was…
1. COBBLE HILL $1,615,000
137 Kane Street GMAP (left)
This 3,264-sf, 4-family was listed for $1,749,000 in July, according to StreetEasy. Its listing said it had been gut renovated. Entered into contract on 10/19/09; closed on 11/20/09; deed recorded on 11/30/09.
2. PARK SLOPE $1,345,500
376 8th Street GMAP (right)
This 2,520-sf, 2-family brownstone was listed for $1,499,000 in July. Entered into contract on 8/29/09; closed on 11/24/09; deed recorded on 12/3/09.
3. MANHATTAN BEACH $1,308,000
271 Amherst Street GMAP
This is a 1,008-sf, ocean-block house, according to its listing. The property was asking $1,975,000 and last sold for $1,140,000 in late 2006. Entered into contract on 7/15/09; closed on 11/23/09; deed recorded on 12/4/09.
4. DUMBO $1,275,000
1 Main Street, #6K GMAP
This 2-bedroom condo in the Clocktower spent a long time on the market, according to StreetEasy: It was first listed for $1,750,000 in March ’07 and the price was cut several times, until it was ultimately asking $1,399,000. Entered into contract on 8/27/09; closed on 11/20/09; deed recorded on 12/3/09.
5. WILLIAMSBURG $1,181,170
1 Northside Piers, #PH-3 GMAP
This 1,688-sf unit in Northside Piers was first listed for $2,111,990 a year ago, according to StreetEasy, and the price was cut to $1,350,990 in February. Entered into contract on 10/1/09; closed on 11/17/09; deed recorded on 12/2/09.
Photos from Property Shark.
100 Jay St unit 6G
sold in jul07 for 730k
resold in jul09 for 835k
that’s the most recent closed sale in the building and the intial sale is from the initial marketing of the building. just like your other apts.
sheesh.
um, ooookay. i’m willing to go out on a limb and forecast that the price decline is less than 33%. I’d even venture a guess in the ‘hood of 10-20%. so let’s come back to this discussion when you have your comps.
re dumbo. once 100 jay 30A, 28H and 24A each close, come back here and let us know how the % increase from the respective seller’s price paid in 2007-2008 supports your thesis.
I bid on 137 Kane as an investment property, it is in excellent shape, 3 of the apartments have huge outdoor spaces, all have washer/dryer and you couldn’t hear BQE from yard or inside the apartments. Total current Rent Roll was just over 9k a month. Someone got a very good deal as an investment, but wouldn’t have worked well as a two family because of low ceilings and oddly shaped building, is 21ft in the front and goes down to 19ft across the back. I haven’t seen anything in the area where the numbers match up as well as this one does.
relatively close to BQE and 4-family considered –It still seems like very cheap price. From floor plans looks weird shape -but that could just be way drawn. If someone wanted lower duplex or triplex with garden rental doesn’t seem would take much.
FWIW – person buying took out approx 500k mortgage.
one more critical thing on 137 kane, BQE = BZZZZZZZZZZZZZZZZZ = significant discount
BHO — you got a comp for a four-fam four-story in Cobble Hill that’s much higher? This is not a move-in for a family that wants to occupy 3 stories. This is essentially a rental property or condo conversion opportunity, or substantial reno to boil down to a 2-fam. It may be renovated, but it is still a 4-fam. Higher taxes and lone rates compared with 1 and 2 fam also push price down.
impressive big transactions.
silver lining remains, prices still dropping so keep waiting
very good example truman.
sweeney 4G sold for 684psf recently.
at the peak of the market:
sweeney 3G sold for 762psf in nov07
sweeney 5G sold for 723psf in jun07
even in the worst case that is 10% off.
a very far cry from your 900 to 600 scenario.