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]
Nice buy … the questions is … how much reno will it need?
Floor plan shows a top floor rental plus a bathroom in the kitchen on the first floor … that usually means that this isn’t a recent reno or fixed-up single family.
Even with the down market, I think the nicer blocks between 4th Ave and 5th Ave are really coming into their own as a nice part of Park Slope. 5th Ave shops/restaurants and the new condos on 4th Ave seem to be helping.
Personal Note: I don’t know why but I can’t stand Miss Muffett … I’d rather have The What back.
Benson, the realtor’s site listed no interior photos. Do you know what the interior looked like? Was it in good shape or did it need some TLC?
Benson… the housing market doesn’t need any help. In fact, I think it’s actually going in the right direction now. (i.e., down) 183% increase in 5 years was not right. Hopefully this property stays at somewhere around the $1.2 million value for the foreseeable future.
I think your friend made a fine purchase – obviously he can afford it. But if in 5 years he turns around and sells this property for $2.1 million… well, that would be “interesting”
The salient thing about all the recent sales – even this one, which is still a very high price – is that they point to the direction of the market, which, like the stock market and economy in general, is trending down, down, down. Mark my words: 2008 was the last hurrah for NY real estate for a long time. 2009 will see the steeper discounts really start, and will continue for quite a while, perhaps years…
Folks;
I happen to know the person who bought this home. He sold a condo in the complex where I live and bought this place to acommodate his growing family.
He is in the entertainment industry. I mention this because there are other industries in NYC beside Wall St., you know. One of the strengths of the NYC economy is that it is diversified, though it is true that Wall St. came to be outsized (especially wrt wages). This diversification may help the housing market, as we see here.
Squaredrive… 183% return on investment in 5 years is average, no?
Wait, the house last changed hands for $667,000 in 2003, and you’re telling me that selling for $1,150,000 five years later demonstrates the bearish quality of the market? Huh?
BHO…I didn’t pay anywhere near that in Bed Stuy. You obviously have no clue whatsoever about real estate prices.
As a clue, my house was HOTD once. It did not go for the asking price.
Why do I continue to engage the loons?
“…Team [Bull] BXeXaXrX…” – ‘scuse me.
***Bid half off peak comps***