A Couple of House Sales
Here are two sales worth mentioning: The 2,100-square-foot house at 469 Sackett Street closed on September 26 for an mansion-tax-avoiding price of $999,999; the awning was thrown in for free. Over in Victorian Flatbush, the Mary Kay-listed tudor house at 340 Marlborough Road (featured as an Open House Pick in August) closed for $1,190,000 recently…
Here are two sales worth mentioning: The 2,100-square-foot house at 469 Sackett Street closed on September 26 for an mansion-tax-avoiding price of $999,999; the awning was thrown in for free. Over in Victorian Flatbush, the Mary Kay-listed tudor house at 340 Marlborough Road (featured as an Open House Pick in August) closed for $1,190,000 recently after just one week on the market; the asking price had been $1,250,000. Reasons to cheer or data from another era?
To put things in perspective, I looked at a house on Sackett in 2003 that sold for $750K.
Actually I Disagree, we’ve been looking at stuff for several years now, so we might have seen Sackett stuff earlier, so probably during the “boom”, depending on how you define it. And I know people say prices have been softening for a long time now, but while we did start to notice it happening here and there in 2007, most prices still stayed very very high in prime areas, and up until very recently have remained very high. It’s only very recently that we’ve started to see real price cuts on the more outrageously priced places…
the past year hasn’t really been “the boom,” since prices have softening for a while now, but i know what you mean.
also, from our friend google: “Property at 469 Sackett Street transferred ownership on May 6, 2008, according to records from the New York Department of Finance. Records show this transaction had no cash consideration, which may indicate a transfer of ownership from parents to children, or another such cashless transaction.” wonder what’s up there.
manofeit… you’re nuts. the train is below grade and behind the houses on the OTHER side of the street. And cortelyou would be almost non-existent from this house… it’s the 4th house in. (not that cortelyou is even that noisy)
So true Architerrorist. As I posted in today’s thread about Ditmas Park the local train doesn’t even pick up much speed with the stations being only one block from each other and although you can hear the express rumbling through, I wouldn’t see it as a deal breaker. Being close to Cortelyou is a definite advantage. It has become the main street so-to-speak.
I Disagree – I actually did not go back to look at the sales prices for Sackett, since I, like you, decided I didn’t like the hood that much, so have not bothered to track closing prices there. And sure, I suppose this house may have hit the market at 1.3, but if that’s the case, the closing price is very far from ask, and that still indicates a shift in the market – those kinds of gaps between ask/close just didn’t happen in the boom, or only very rarely.
miss muffett – how do you know that sackett wasn’t “priced” at $1.3? and do you know what the ones you saw sold for? remember, it’s the closing prices that matter, not the asks, when talking about market shifts.
anecdotally, when we were looking in late 2006/early 2007, those places were asking $1.1 max. and i don’t know what they sold for, since once we had one look at that depressing neighborhood we put it out of our minds entirely.
Oh, and the Sackett houses I’m talking about all needed lots of work (as I assume this one does)…
Wow, that Sackett price does, to me, signal a shift in the market since we’ve seen several similarly-sized houses on that block over the past year that were all priced 1.3+.