Corco Cutting Prices East of Classon
It can be hard to spot a trend in the real estate market until after the fact, but we couldn’t help but notice when we were perusing Natefind yesterday that Corcoran had cut prices on six of its townhouse listings in Bed Stuy and Crown Heights within the past week. (The biggest cut, both in…
It can be hard to spot a trend in the real estate market until after the fact, but we couldn’t help but notice when we were perusing Natefind yesterday that Corcoran had cut prices on six of its townhouse listings in Bed Stuy and Crown Heights within the past week. (The biggest cut, both in absolute and percentage terms, was at 36 Monroe Street.) Is this a coincidence, do you think, or could there have been some word from on high that drove these cuts? Taken as a whole, do the cuts signify anything about the market in those neighborhoods or is this bad news balanced out by bidding wars at places like 100 Decatur?
56 Monroe Street [Corcoran] GMAP
36 Monroe Street [Corcoran] GMAP
470 MacDonough Street [Corcoran] GMAP
1300 Carroll Street [Corcoran] GMAP
1416 Sterling Place [Corcoran] GMAP
610 Eastern Parkway [Corcoran] GMAP
No price cuts on my block in CH and I’m a block of Classon on Gates. Hell, what does ‘stoner have to worry about didn’t two condos on his block just go for an absurd amount of money? All he has to do is file plans and paper work to turn his building into condos – sell it to a developer and walk away with plenty of cash.
If we did indeed have such a nefarious agenda, 11:23, wouldn’t we also have a vested interest in prices in Bed Stuy staying high? Those Monroe properties are less than 4 blocks from our house.
Stoner, its you that should pay attention. I understand it’s in your best interest to “talk up” your ‘hood. Especially after paying silly money for a gut building and then spending, what another $500K to renovate; leaving your Wall Street job; one failed web project; etc. You cannot afford another “hiccup.” BEST.
Stoner, its you that should pay attention. I understand it’s in your best interest to “talk up” your ‘hood. Especially after paying silly money for a gut building and then spending, what another $500K to renovate; leaving your Wall Street job; one failed web project; etc. You cannot afford a “hiccup.” BEST.
Oh, and I’m sure we can tell tales of someone being mugged in every neighborhood in the city of New York, from the best to the worst. I hope this discussion doesn’t disintigrate into the usual BS/CH is dangerous nonsense. The vast amounts of people who are quite happy with their homes and their neighbors quite outweigh those who who are dissatisfied.
I don’t think it’s a lack of enthusiasm, for these areas, it’s a reality check. They priced these houses way too high, and no one was foolish enough to bite.
Corcoran, and the other very large Manhattan firms barrelled into BS and CH only around 5 or 6 years ago because they saw money. As corporations, they know nothing about the neighborhoods, and up until that time, wouldn’t have set foot in them, and probably steered potential customers away in droves. As more and more people were getting priced out of other nabes, they started to go into these neighborhoods with a vengeance, totally overwhelming local brokers with their superior marketing. I understand the draw of listing with them, they get a large market, and have the resources to get your listing to a lot of people.
However, I think that pricing should progress slowly and give communities time to catch up. Overpricing does no neighborhood any real good, besides the benefit to seller and broker.
Even with the cuts, I still think the prices are too high.
When I read CH/FG crime reports, most incidences occur on Classon Ave. I shudder to think what goes on east of Classon.
What price cuts in Clinton Hill? Just curious
Hmmm 10:31, was it not just yesterday that we posted about 156 St. James selling for almost half its original asking price? Or last Monday when we mocked the ridiculous pricing at 483 Washington? You need to pay a little more attention.