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
What’s funny is both the Monroe properties are marketed by Corcoran as being in Clinton Hill presumably to justified the inflated prices; but when the price is cut it is counted against Bed-Stuy. It ain’t right.
Pretty soon the border is going to be the East River. It keeps moving west. Ha ha…
Almost all sellers set max. price hoping or believing they can sell for it. I don’t think this is a beginning of crash or anything like that. Good thing is buyers would be able to negotiate still. Either CH or BS, the neighborhoods will be better place in long run anyway. But my concern is if sellers keep asking unreasonable price for properties with no substance, it might confuse prospective buyers and make gentrification slow. 100 Decatur? I think it was simply beautiful. The buyer’s decided it was worth to pay 980K.
The border is either Grand or Classon, depending on with whom you talk.
*the” border, not “to border”
sorry
I’d also like to point out that when someone refers to “Bed Stuy” they’re referring to an area much larger than any other neighborhood in Brooklyn.
For instance, Stuyvesant Heights is very different in character than North Stuy and very different from Ocean Hill.
Don’t forget the name “Clinton Hill” was scoffed at until recently – it used to be considered the shabby part of Ft. Greene. “Williamsburg” was actually the “Northside”, and so on.
These are all distinct neighborhoods with their own character (or lack thereof in some cases) and shouldn’t be treated as a singular neighborhood just because it makes a nice clean triangle on a map.
11:47 – I am not a troll. Just voicing my view. It seems if you’re not falling over the Stoner on this site, you’re a troll. I like this site very much, but you have got to be able to question, contradict, debate, etc the issues. We should not have to agree on the issues to avoid being called a troll. Please show some maturity.
PH mom:
The border between Bed-Stuy and Clinton Hill is Classon Ave. RE agents would like us to believe that it’s actually Bedford Ave. (What’s next, push to border to Nostrand?)
Brownstoner, if you’re going to do this for a living, you need to get a thicker skin. I don’t recall any examples of your diving into the IP addresses when several anonymous posts agree with you, only when they criticize you. (Go ahead and check: I didn’t post earlier, and I’m otherwise a fan.)
As for the price cuts, it makes sense that the last nabes to jump sharply are going to be the first to fall if the market softens.