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]
Squaredrive – no, I haven’t seen this particular house, but I’ve seen plenty of others, including some still on market suffering price cuts now, unable to sell.
And birds go “tweet.”
Condos tanking will inevitably eventually impact the brownstone market. As Benson pointed out, buyer of this house financed it with proceeds from his condo sale. As those go down further (and they are indeed suffering more now) buyer pool for brownstones will shrink. Yes, many people still have jobs, but many are losing them, having wage freezes/cuts or general uncertainty, plus losing equity in other assets that they have otherwise tapped to finance home purchase. Not to mention lending strictness, overall psychological shift of buyers, etc.
shill…houses are selling every day, literally.
Miss Muffett, I will buy you a house if you refrain from posting for 6 months.
My take on this house and other between 4th – 5th Aves in the North and Center Slope: if you have the cash for a reno (and admittedly, its a lot of cash), there are GREAT buys out there. Get a place for ~$1.2MM, spend some real cash on a reno, you’ve got 2,500sf+ in a nice part of Park Slope for about $3,400/month after-tax.
MM, how are you so confident that it’s evidence of trending down w/o seeing the condition of the interior? (especially given benson’s comment above.) Price reduced from asking doesn’t mean too much, because the asking may have been way off given it’s condition.
It seems like you want to see it as evidence for your position, so you do. I’m more interested in facts, as I’m not so familiar with house prices comps here.
spelling difficulties today, sorry. Beer headache.
The simple fact that Shillstoner and the shillettes are trying to make hay out of the fact that one house actually sold “in just 6 months and with only one price cut for only 245K below asking” says it all. In reality what this tells you is that person made one decision.
These prices don’t go up in a vacuum. You can’t compare living between 4th and 5th today to doing the same 6 years ago. For the people who bought this place, the relative quality of life may have increased 183% as well.
On the other hand, I think this was a surprisingly good price for the seller–1.15m for a 3 story, 18-footer with an unfinished basement that probably needs some work. And if the listing sq footage is right, $577/sqft is probably as much as this could have ever gone for.