30 So. Portland In Contract 'Significantly Over' Asking
The headline says it all. According to a broker familiar with the situation, 30 South Portland Avenue, a four-story brownstone on Fort Greene’s most desired block, is in contract for “significantly over” the asking price of $2,600,000. Another data point suggesting that there’s still strong demand for quality properties in areas like Fort Greene and…
The headline says it all. According to a broker familiar with the situation, 30 South Portland Avenue, a four-story brownstone on Fort Greene’s most desired block, is in contract for “significantly over” the asking price of $2,600,000. Another data point suggesting that there’s still strong demand for quality properties in areas like Fort Greene and Park Slope where there’s little perceived risk of the neighborhood going downhill? Maybe. Of course, the fact that 224 Washington Avenue was just just reduced by another $110,000 to $1,685,000 flies in the face of that theory. That one’s looking cheap now, don’t you think?
House of the Day: 30 South Portland Avenue [Brownstoner] GMAP P*Shark
This house went into contract in September. I was following it. There wasn’t even talk of a mortgage crisis then, believe it or not.
To Z: I’ve done that with archived HOTD. You can link directly to Property Shark and see sales data. You’d be surprised how many of those HOTD sold for a bit under asking price.
SPECIAL HOUSE, RIGHT TIME, nothing more.
1.) This house was one of the nicest houses on the market at that time, or since. So, it was a special property. Not all houses are as nice, or on such a nice block.
2.) The owner was lucky to have sold it right before the crunch. Had it been 2 months later,it would have sold for asking, but NOT for significantly over asking.
3.) The Corcoran listing on 344 Carlton avenue also sold for over-asking at around the same time. Again, special house, right time.
http://bstoner.wpengine.com/brownstoner/archives/2007/05/house_of_the_da_315.php
I’m back. Revisiting the listing sheet on the So. Portland house, aside from being on a super-prime block, it also has been really sharply renovated. The house on Washington has lots of potential, but it looks like it’s been rented to students and old folks since the 20s. Bring your scraper…
11:36,
What WSJ article are you referring to? Also, this house was originally received very positively.
Lets wait and see when this finally closes. Pardon me if I am a bit skeptical about taking a broker’s word for “significantly above asking”
I’ve gone through 224 Washington Avenue, head to toe, and I’m not sure $1.685 feels “cheap” to me–maybe solely on a per square foot basis or something. Great house from the outside, great neighborhood, some details inside. But this place was chopped into 4 or 5 apartments and needs a total restoration.
So how does the condition compare to the house on South Portland?
a butcher! in a neighborhood?! wow!
I think part of the reason why the FG market is still strong is because the nabe gets better and more convenient every day. We’re getting a butcher for christ sake.
mr. b, how about a regular feature that revisits previous HOTDs once they have sold and compares the asking vs. sale prices? it would be fun to measure the accuracy of the judgments expressed in the threads.