712 Degraw Sells for $1,150,000
sold Six months and one price cut after it hit the market, the three-story house at 712 Degraw Street in the Lower Slope closed for $1,150,000. The listing said that the interior was in “great shape” and had “lots of detail,” in which case it sounds like a decent deal. Most interesting of all, the…
sold
Six months and one price cut after it hit the market, the three-story house at 712 Degraw Street in the Lower Slope closed for $1,150,000. The listing said that the interior was in “great shape” and had “lots of detail,” in which case it sounds like a decent deal. Most interesting of all, the deal was struck “post-Lehman,” on November 6, 2008 to be exact.
House of the Day: 712 Degraw Street [Brownstoner] GMAP P*Shark
712 Degraw Street Listing [Leslie J. Garfield]
“…for your sake leave them alone. Go play with you kid or just hang out. The idiots and brownstoner is toxic to your system.”
You are so right.
***Bid half off peak comps***
CGfan, you are a breath of fresh air. Please keep posting!
Wow a whole day of debating retarded people! Look guys leave the Asshats alone (Trust me on this one). Let them go ahead with their dreams. Very soon the whole thing will be crashing around their heads.
Cornerbodega 11217 is a Asshat living in the Ghetto and he needs someone (Dave) to go along with his BS, so let them be..
Brownstones Half Off I’m so proud of you! The way you PWNING these Asshats is great but please for your sake leave them alone. Go play with you kid or just hang out. The idiots and brownstoner is toxic to your system. I willing to bet that Brownstoner is on it’s last legs. The whole Mutant Asset Bubble is dead and the Assholes who believe in it.
To the A-Team (You know who you are) Have a wonderful weekend…
The What
Someday this war is gonna end…
and this is the reason why I can’t respond to idiot posts such as the one by 11217. The guy makes points that contradict his very intention. Its like trying to debate a mental midget…
“only 1/3rd of the city own homes and the rest rent”
Read what I wrote a little more slowly. I said the bonus crash is proportional to sales and rents. They are both tied together and are both declining.
“Wall Street makes up very few jobs in the city overall.”
Absolutely, if you just count heads. But if you count the income of those heads for the last several years, Wall Street circulated 1/3 of the city’s revenue stream from taxi’s to restaurants, etc.
“The city’s economy is more diversified than it’s been in quite a well.”
Absolutely, now that Wall St has collapsed. Those overleveraged, Madoff, masters of the universe types are disappearing like those kids in that Charlie Brown spelling bee. Poof! Poof! Poof! Now we have doctors, non-Street lawyers, engineers, teachers, firemen/women, etc., representing a larger percentage of the city’s tax base and home price fundamentals (Hey prices! We’re dooooown here!).
***Bid half off peak comps***
I am not saying PS is immune to the economy, but rents are not coming down. This affects brownstone economics because in a multi family, the rental portion is critical to making the mortgage. In the boom years, a lot of potential renters elected to buy condos instead, and that took some wind out of rentals.
With fewer condo buyers these days, the rentals should continue to see modest increases (single digits, but still…). This is happening nationwide, where apartments have weathered the economy better than for sale product.
Second point is that PS is still a cheaper alternative to Manhattan, so we may see Manhattanites “downsizing” to the Slope.
Just my speculation, don’t jump all over, please. Newbie here.
Seriously, 11217 you’re sounding like an idiot. And I assume all is rosy across the nation because 90% are employed right?
Wall Street might make up 1/3rd the income of the city, but you aren’t factoring in that only 1/3rd of the city own homes and the rest rent.
We are talking about a very small percentage of people who might lose their jobs or have a decreases in income who own real estate. By numbers, Wall Street makes up very few jobs in the city overall. Then you need to roughly say 1/3 of those are homeowners, although in general I’d say Wall Streeters (the young ones anyway) do not in fact own property so the numbers might be even less than 1/3rd.
The city’s economy is more diversified than it’s been in quite a well.
Of course I agree that incomes are falling – we’re in the great recession after all – but I’ve seen no evidence yet of them crashing through the floor. Time will tell.