208 Midwood Sells for $995,000
When 208 Midwood Street in Prospect Lefferts Gardens was a House of the Day back in September, the small brownstone was asking $1,150,000, a lot for the nabe but worth trying for given the gorgeous interiors. In the end, though, the market spoke and the seller had to settle for $995,500, just shy of the…
When 208 Midwood Street in Prospect Lefferts Gardens was a House of the Day back in September, the small brownstone was asking $1,150,000, a lot for the nabe but worth trying for given the gorgeous interiors. In the end, though, the market spoke and the seller had to settle for $995,500, just shy of the mansion tax. Is this price what you expected? GMAP
tybur’s arguments, as usual, make absolutely no sense. If you follow them to their logical extreme, you should be able to purchase every good and service everywhere in the world for the same price. The science of economics doesnt’ have much credibility right now, I agree, but the demand curve hasn’t yet been debunked.
Anyway, back to this house: It’s gorgeous, unusual, and I suspect the nicest move-in condition house at its price point on any side of Prospect Park. To my mind, it’s at least twice as nice and less expensive than anything I’ve seen recently in South Slope, Kensington, W-T or the PLG area.
11217 – I know… it’s just crazy to me sometimes
like man I own a million dollar house on a hodge podge street in ParK slope
and where I grew up in Long Island a million dollar house was a 4000K sqft mansion with a 3 car garage,pool and tennis court 40 mins on the LIRR to the city…
And DIBS, that original point was a joke/exaggeration/sarcasm… though, dinners for $19.95 would be great. As long as that’s the price for 2.
dave – that wasn’t my post. it was tybur6’s.
Gemini –
I guess since I travel a ton for work to LA, Seattle, Portland, San Francisco, DC and Boston (at least once a year to each) I find prices in those cities to be higher than most people on here probably think they are. When you factor in the difference between those cities and New York, the prices here kinda make a bit more sense. They are high…sure…but this is also the most desirable city in the U.S. for a lot of people.
If it weren’t so desirable, prices would go down.
rjm – do the research, and you will find that district 22 has some of the best public schools in the city, and includes parts of midwood, ditmas park, and a bunch of other affordable neighborhoods.
Tyburgs 12:17 point makes some serious sense
it is kinda crazy you guys that we all have bought or sold houses or are looking at homes worth million + that are probably small,have no parking,no pools, no land to speak of….
come on – we can all agree it’s crazy….. – I mean I think it is!
11217… I DO realize that. This is my point. it’s not that people can’t afford to pay crazy prices for mediocrity… it’s that the Mansion-Price Sprawl continues… *because* they are willing to may crazy prices for mediocrity. Midwood and Ditmas Park. Do you really think a family with a $100k income will be able to find a home there for much longer? (if they can know) The house I live in off of Cortelyou Road (renting an apartment) is appraised at $1 million!! It is a total piece of crap… but could probably sell for $900-$1.1 million easy. So then the low-6-figure salary families move to East New York and Bensonhurst. And the working class and lower middle class are “displaced” because that totally serviceable, though fairly crappy house in East Bushwick is now an “amazing find” for folks with 6-figure incomes.
It all just seems unhealthy on many levels.
idisagree… I *first* comment was a joke. and obviously you’re a bit thick.
I looked at Park Slope in late 2001 through early 2002, a legit 2 bdrm (ie 850 sq ft or bigger) in prime blocks were listing for 275k to 350k. I wasn’t crying those prices were riduculous (cause I would still be able to save some $$$ each month, monthly outflow was only a little bit more than renting comparable units) but thought it was expensive. Even with some correction in 2009, those units are priced over 550-625k. Excluding the big $$$ earners from wall st, who’s income & savings powered up that much in the 7-8 yr span to the point that 550-625k feels, cash flow & affordability wise, the same as the 275k-350k then? If you’re 1 of those lucky few who’s income & savings did pop that much, then more power to you and you fundamental can justify paying these current prices. if not, you’re among the many scratching your head saying what the heck happened?