Brooklyn Sales: Under a Million
Here are some Brooklyn sales recorded in public records last week, all of which went for $1 million or less: Under $250K: BEDFORD-STUYVESANT 1142 Bedford Avenue, Unit 2F; Price=$206,500 GMAP No listings readily available for this new condo, which was nearing completion in October. This is the first sale recorded for the 29-unit project. Entered…
Here are some Brooklyn sales recorded in public records last week, all of which went for $1 million or less:
Under $250K: BEDFORD-STUYVESANT
1142 Bedford Avenue, Unit 2F; Price=$206,500 GMAP
No listings readily available for this new condo, which was nearing completion in October. This is the first sale recorded for the 29-unit project. Entered into contract on 2/26/09; closed on 2/26/09; deed recorded on 3/23/09.
$250-$500K Range: PARK SLOPE
343 4th Avenue, Unit 3I; Price=$410,000 GMAP
This 875-square-foot, 2-bedroom condo in the Novo was originally listed for $499,000 last April, according to StreetEasy. Entered into contract on 2/10/09; closed on 3/13/09; deed recorded on 3/24/09.
$500-$750K Range: FORT GREENE
230 Ashland Place, Unit 18D; Price=$730,000 GMAP
This 1,007-square-foot, 2-bedroom condo in the Forte was originally listed for $746,000 last August, according to StreetEasy. Entered into contract on 2/25/09; closed on 3/20/09; deed recorded on 3/25/09.
$750K-$1 Million Range: SUNSET PARK
746 43rd Street; Price=$763,000 GMAP
This is a 2,048-square-foot, 2-family house, per Property Shark. Entered into contract on 10/22/08; closed on 3/10/09; deed recorded on 3/27/09.
Novo unit is 1 Bedroom NOT 2. The LR and BR are also narrow.
Surprised at the 730K sale at Forte which went into contract 2/25/09. I would have thought maybe 600K was the top for that.
LOVE IT! Please do keep listing properties below 1M.
squaredrive, you are correct!
I’ll spin the novo sale, just for sport.
Here’s how liquidity works in the bond market: it’s two dimensional. You might see a trade for 2MM in a bond at 95c, but if you wanted to sell 50MM, the price is lower. Figuring out how much lower is the real game for traders. And the thinner the volume is, the worse reading you get from the actual sale that you can see. Sometimes a desperate seller of a large amount will absolutely crush the market in an illiquid bond.
That’s the situation in RE right now. The novo got one done. But how many do they have to sell and when does their cashflow situation cause them to start vomiting apartments? We know that the pace of sales is not working for the developers, and something needs to change. So fine, someone pulled the trigger and bought one. There’s always someone. But the inventory is the real story.
yes, thanks for this feature. More “affordable” coverage, please. Maybe picks for first-time buyers?
Novo unit is 1 BR. The bedroom and livingroom are narrow.
That would make more sense, squaredrive.
I’m not a fan of the NOVO, but 410K for a 2 bedroom there did seem a little fishy…
Unless the link is incorrect, the NOVO is actually a 1BR. and that 1BR is 8’x20′. Worst proportion ever. Am I wrong?