Brooklyn Sales: Under a Million
Some of the sales recorded last week that went for $1 million or less: $250K or under: PARK SLOPE 133 8th Avenue, Unit 1A; Price=$205,000 GMAP This studio’s listing said it’s about 300 square feet, has a “very low maintenance,” and lots of closet space. Closed on 5/26/09; deed recorded on 6/9/09. $250-$500K Range: DITMAS…
Some of the sales recorded last week that went for $1 million or less:
$250K or under: PARK SLOPE
133 8th Avenue, Unit 1A; Price=$205,000 GMAP
This studio’s listing said it’s about 300 square feet, has a “very low maintenance,” and lots of closet space. Closed on 5/26/09; deed recorded on 6/9/09.
$250-$500K Range: DITMAS PARK
385 Stratford Road; Price=$380,250 GMAP
A 1,688-square-foot, 1-family house, according to Property Shark. Entered into contract on 4/9/09; closed on 6/2/09; deed recorded on 6/9/09.
$500-$750K Range: BUSHWICK
74 Pilling Street; Price=$605,000 GMAP
This 3,300-square-foot, 2-family house last sold for $600,000 in 2006, according to Property Shark. A foreclosure auction was scheduled for it last year, which likely explains the closing date. Entered into contract on 5/15/08; closed on 6/20/08; deed recorded on 6/12/09.
$750K-$1 Million Range: SOUTH SLOPE
515 5th Avenue, Unit 7D; Price=$752,000 GMAP
This 1,110-sf, 3-bedroom in the 5 One 5 condo was first listed for $995,000 last April, according to Street Easy. Entered into contract on 3/4/09; closed on 4/14/09; deed recorded on 6/8/09.
Photos from Property Shark
who would buy what practically amounts to a large closet for 200 grand? I mean seriously, why wouldn’t you just keep renting and saving money until you could afford an actual apartment? Seems a little sad, really.
Slightly baffling cases today. Cheap in Park Slope and Ditmas Park, high in South Slope, Bushwick holding ground against all expectation.
Detail on Bushwick house: From the outside, it does look like a nice house in good condition, but who knows. As to area, it is seriously the very worst corner of the neighborhood. As to price, as the history of this house shows, that is a 2006 peak price. Actually, it went for more than the 2006 peak price, which is very surprising. It’s funny to think the recent comp of the nearby brownstone on Bushwick Ave. and this house will set new comps for the area. I’m rather amazed to say the least.
There are also all kinds of foreclosures in this area going for $250,000 to $350,000 and a few (rapidly dwindling) short sales in the high 300s and low $400s. Inventory of nice two-families in decent condition is virtually non-existent.
Someone (M4L?) commented at the gathering Wednesday that prices all over the map are typical of crashes, because no one knows what anything is worth.
11217 why is my opinion about real estate any less valued than yours? im sorry, but that shouldnt be a 1/5 of a million bux. also i should not be paying 1225 a month for a room in park slope either, but that is neither here nor there.
and the location, location, location comment is absurd.
people see these “low prices” and are like omg how cheap! yeah right. you all must be neurosurgeons or something.
*rob*
Ditmas house was a foreclosure bought at auction: http://a836-acris.nyc.gov/Scripts/DocSearch.dll/ViewImage?Doc_ID=2009061000669001
11217, you should know better than to listen to Rob about real estate advice ;o)
On a serious note, how’s that investment in Argentina working out for you? Which part? Are you happy with the decision overall?
I know nothing about Argentina real estate but heard very good things about the country and apartments there (particularly Buenos Aires). I presume you speak spanish fluently.
Not only is the studio a terrific location but with 20% down, it’s $931 a month before maintenance (not sure what that is).
That’s a good deal for someone to have the prospect to live alone and own their own place. Many people in this city pay that much (and much more!) to share a room in an apartment, which is certainly smaller than 300 sf.
Anyone who thinks it should cost 75K (or about $350 a month) to own an apartment in Park Slope doesn’t really understand real estate very well.
that 5One5 p.s. condo: 3 sales on that D line this year per streeteasy. all 1110 sq ft.
710k, 752k, 870k.
4th, 5th, 6th floors.
Unless there is something really different on that 870K sale – I’d think that party paid too much.
That PS studio is on the corner of 8th Ave. and Montgomery Place in a beautiful building, one block from the park. With low maintenance, $205K is a good deal. Location, location, location.
The Ditmas Park house is a sh*t hole. Walked past it many times and the exterior is very run down so I can only imagine what the interior looks like.