Real Estate Market


A few weeks ago, the NY Times did a story on 30-something native Park Slopers who found one another through Facebook. Well, that’s not the only nabe represented in that digital world. Kensington residents have started their own Facebook group, with 578 members (at the time of this posting) celebrating “Brooklyn’s best kept secret.” Discussion topics include best restaurants in the area, doctors and “that guy that walks backwards,” in which 19 people posted 42 comments. Hey, and there’s a Bed Stuy Facebook page (53 members); I Rock Williamsburg (70 members); “Dem Slope Boyz” (60 members); East New York (30 members); BushwickBK (21); and the 521-member We Live in Brooklyn baby! which seems open to all of us Brooklynites.
Photo from Kensington Facebook page.


If townhouse prices in Fort Greene are down 50 percent, then someone forgot to send us the memo. Which is why the recent sale of 99 Lafayette Avenue for $850,000 caught our attention. You see, this four-story building changed hands for $1,700,000 as recently as July 2007. It also traded in 2005 for $975,000 and in 2006 for $1,050,000. A lot of activity for one house. Odd, isn’t it?
88 Lafayette Avenue [StreetEasy] GMAP P*Shark


New York City will lose 170,000 jobs between July 2008 and December 2010, and Wall Street bonuses will decline at least 50 percent this year to the lowest levels since 2002, the state and city comptrollers said today…Wall Street bonuses totaled about $28.7 billion in 2007. This year’s estimate of about $14 billion would make it the lowest since 2002’s $10.8 billion, said Michael Loughran, a spokesman for the city Comptroller’s office. — Bloomberg


This 4,500-square-foot brick house at 167 Baltic Street in Cobble Hill was purchased by the current owners in 2006 for $2,750,000. It appears the three-family house was then renovated before being put back on the market last spring for $3,900,000; after not selling, the price was increased to $3,995,000. Some of the choices don’t work for us (the cabinetry is a little too dominating in our opinion but that could be because of the lack of furniture and decoration), but overall it looks like a good-quality job. Seems pricey though, no?
167 Baltic Street [Corcoran] GMAP P*Shark


This 1,500-square-foot (we’re guessing) loft at 423 Atlantic Avenue in Boerum Hill just hit the market this week. It looks to us like the three-bedroom co-op has a great sense of space and nice wall of windows. Given that this stretch of Atlantic is not as gentrified as the blocks closer to Smith and Bond, the asking price of $1,300,000 seems a little aggressive on a per-square-foot basis. The first open house is this Sunday from 12 to 2 p.m.
Co-op of the Day: 423 Atlantic Avenue, #2M [Brown Harris Stevens] GMAP P*Shark


A reader just tipped us off to the fact that the sale of 17 Prospect Park West, better known as the former home of actors Jennifer Connelly and Paul Bettany, has now closed. And it looks like the screen stars almost got their full asking price: Public records show that the 5,200-square-foot limestone mansion closed for $8,450,000 on November 17. Highest price ever for Park Slope, right?
Schloss Connelly In Contract [Brownstoner] GMAP P*Shark
Connelly, Bettany Dumping 17 Prospect Park West [Brownstoner]


Here’s one that won’t make our weekly Top 5 Sales post but should nonetheless be of interest: After originally being listed last April for $1,375,000, the five-bedroom Victorian house at 335 Rugby Road in Beverley Square West closed on December 1 for $1,187,000. Total haircut? 13.6 percent. You can see the former listing here.


“They have finally started working on 132 2nd place after year or more of it being boarded up but they are making more noise then the 360 smith street project!” writes our tipster. And here’s the other tidbit of tip: “The owner is planning to do condos.” A 2007 permit request from the DOB shows a renovation of the existing five-family building along with the erection of a four-story and basement extension. The owner, per the application, is contractor Henry Azcue of A.C.H. General Construction, and the last recorded sale was in April, 2007 for $1.825 million. Curiously, the sale before that, in August, 2005, was $1.8 mill. GMAP P*Shark DOB


Flip time! This amazing-looking Victorian at 1123 Glenwood Road (at Westminster) just sold for $1,185,000 last February. While the exterior is lovely, the interior looks like a mixed bag to us. The living room, above, looks lovely with tons of original detail; some of the other (tiny) photos on the listing show some questionable attempts at modernization. Still, cool pad. The question is why the seller thinks he can get $1,359,000, an increase of 15%, in a much worse market. Theories?
1123 Glenwood Road [Century21] GMAP P*Shark