423 Clinton Sells for Half Price
When 423 Clinton Avenue was a House of the Day last October, we called its asking price of $1,800,000 a “bit of a stretch.” It’s now looking like the price was more than a bit of a stretch: The four-story brownstone closed for just $990,000 on March 25, 2009. That’s quite a discount, but not…
When 423 Clinton Avenue was a House of the Day last October, we called its asking price of $1,800,000 a “bit of a stretch.” It’s now looking like the price was more than a bit of a stretch: The four-story brownstone closed for just $990,000 on March 25, 2009. That’s quite a discount, but not a great surprise given that the house was in need of quite a bit of work. Still, the original details could make it quite a catch for an intrepid restorer at this price. GMAP
“There is a trend downwards in comps. Expecting them to come off 50% is just your own little pipe dream.”
Note to Team Bear: Leave Team Retard alone! here we have a clear example where the Mutant Asset Bubble is going and still….. Sad…
The What
Someday this war is gonna end…
“The retards have lost there jobs and are fleeing NYC. There is no prospect for jobs for most of the laid off finance crowd. Some of the girls have taken to the poll but other then that they are packing up and going back to there hometowns.”
SSSSSSHHHHHHHHHHHHHHHHHH! Brickoven!
“I also would agree that BHO is right in saying the seller got a good deal. Not sure he is right about the buyer getting hosed though. This is a very challenging property for sure but a business with deep enough pockets could certainly make some money in converting that, even if the units sold very cheaply.”
Wasder put down the crack pipe! It takes at lease 2 years to convert this dump into condos and they have to get a No Harassment from DOB! Then construction time and other nonsense!
This LLC caught a falling Machete, Ginsu Knife and a Samurai Sword all at the same time!
It’s OVER GUYS! Get it! OVER!!!!!!!!!!!!
The What
Someday this war is gonna end…
There is a trend downwards in comps. Expecting them to come off 50% is just your own little pipe dream.
Hey WHAT…I bought Skittles last week and there are brown ones. You’re whole reality is a joke.
“I think he’s still not going to get his 50% off of comps…”
The trend disagrees with you, DIBS. But hey, if you can’t beat us, join us.
Team Bear (Grrrrrrr!)
***Bid half off peak comps***
“Hey What….I think if more purchases are being made by LLCs it indicates that they are being made for primarily economic purposes and it indicates that these “businesses” believe there’s real economic value in the real estate supported by the numbers.”
Nope dumbass this means there is more delusional retards in this market! The upcoming Greater Depression is going to change that! I was Downtown Brooklyn yesterday and I was amazed at the amount of construction going on! This will not end well…
The What (Hang on Snoopy)
Someday this war is gonna end…
DIBS:
Sometimes, you use an LLC for the purchase if you have more than one property that is not your primary residence.
“Not sure he is right about the buyer getting hosed though.”
Unemployment checks cannot support these prices. Sorry. Deep pockets to absorb (or hide like Level 3) the deep loss. Like love, you can’t buy your way out of a flip flop. Ask Tishman Speyer.
***Bid half off peak comps***
But travy, BHO’s comment focuses more on the issue…you do have to focus on comp sales to get an idea of the market, not asking prices.
I think he’s still not going to get his 50% off of comps and I also believe that this house went for MORE than comps should indicate!!!!