Brooklyn Bargains? Condo Price Cuts
925 Pacific Street #401 1,125-sf, two-bed, two-bath Original listing: $825,000, 5/2/07 Price as of 10/3/08: $698,000 Listed by Elliman 283 Washington #1 1,813-sf, two-bed, two-bath Original listing: $1,150,000, 3/14/08 Price as of 10/3/08: $999,000 Listed by Brooklyn Properties 457 Atlantic Avenue #2A 980-sf, two-bed, two-bath Original listing: 8/27/07, $786,000 Price as of 10/3/08: $768,000 Listed…
925 Pacific Street #401
1,125-sf, two-bed, two-bath
Original listing: $825,000, 5/2/07
Price as of 10/3/08: $698,000
Listed by Elliman
283 Washington #1
1,813-sf, two-bed, two-bath
Original listing: $1,150,000, 3/14/08
Price as of 10/3/08: $999,000
Listed by Brooklyn Properties
457 Atlantic Avenue #2A
980-sf, two-bed, two-bath
Original listing: 8/27/07, $786,000
Price as of 10/3/08: $768,000
Listed by Halstead
I was most surprised by the “garden” level apartment (read, half basement) 2 bedroom in Clinton Hill for 1 million. And that already reflects a cut.
Seriously?
^ i agree
its going to go for under 500k.
The Pacific Street condo is really on the very far edge of Prospect Heights – and it’s right up alongside Atlantic Yards’ footprint… this place was never, ever worth the original $825K – even back in ‘the good old days.’
Expect to see more price chops across-the-board, but this one was a long-time coming.
Dont forget for any consults for a mortgage email benjamin.levin@wellsfarego.com or call 917-837-5794.
Transposing 2 digits for a 2% drop on Atlantic Ave isn’t a serious reduction. Take 15% like the other 2 if you want to even approach bargain pricing. If I was a buyer, I’d hold on to cash and wait.
Hey DOW8000SP800,
Getting awfully close to your targets today.
Mr. B, can you look for price cuts on houses too? I too think there are many more (and deeper) cuts to come, and sellers would be wise to sell sooner rather than later. It’s not going to get any better any time soon. I’m not one to panic and think the sky is falling, but I do think this recovery will take several years, if not longer (though of course, it will eventually happen)… But, as I know I remind people often, many many sellers will still be OK if they bought their property more than, say, 5 years ago. The main people to get hurt are the flippers/speculators/developers.
Keep ’em comin, keep ’em comin, keep ’em comin!
Yeee HAW!
All 3 places were way overpriced to begin with so these are not really bargains. More drastic reductions to come in the next few months. For example Atlantic Ave place will be a bargain when it drops to $625K in our opinion….
Not the time to buy. Fire sales are on the horizon. Wait if you can.
Where’s The What? I thought he was living for these days to come? Maybe he lost his home too?