Brooklyn Sales: Under a Million
Some of the sales recorded last week that went for $1 million or less: $250K or under: PROSPECT-LEFFERTS GARDENS 310 Lenox Rd #2N; Price=$90,000 GMAP This is a 1-bedroom co-op, according to StreetEasy. It was asking $105,000. Maintenance= $416. Closed on 8/7/09; deed recorded on 8/17/09. $250-$500K Range: BUSHWICK 1491 Putnam Avenue; Price=$425,000 GMAP A…
Some of the sales recorded last week that went for $1 million or less:
$250K or under: PROSPECT-LEFFERTS GARDENS
310 Lenox Rd #2N; Price=$90,000 GMAP
This is a 1-bedroom co-op, according to StreetEasy. It was asking $105,000. Maintenance= $416. Closed on 8/7/09; deed recorded on 8/17/09.
$250-$500K Range: BUSHWICK
1491 Putnam Avenue; Price=$425,000 GMAP
A 3,300-sf, 2-family house, according to Property Shark. A listing on Zillow said the property, which was asking $469,000, has been with the same family since it was built in 1910 and that it “needs renovations.” Entered into contract on 5/15/09; closed on 8/3/09; deed recorded on 8/20/09.
$500-$750K Range: COBBLE HILL
344 Degraw Street #4A; Price=$599,000 GMAP
This is a 871-sf, 2-bedroom condo, according to StreetEasy, which says it went for asking. Entered into contract on 6/3/09; closed on 8/7/09; deed recorded on 8/18/09.
$750K-$1 Million Range: SOUTH SLOPE
403A 18th Street; Price=$760,000 GMAP
This 1,398-sf, single-family was listed for $799,000 in early May. Entered into contract on 6/3/09; closed on 7/14/09; deed recorded on 8/21/09.
Photos from Property Shark
If I had bid half off, I would not have gotten any of these properties.
I am a financial wizzard. Do as I say, not as I do.
stupid, stupid, stupid buyers everywhere. how can people be so dumb with their cash? don’t they know prices must drop like crazy so i can buy something at a good price in the not too distant future? i really hate the market. if only it were composed of smart people like me that can read and interpret the facts. this silly sales feature says nothing about the growing tidal wave of shadow inventory that is about to be unleashed. but of course i will have enough patience to wait until the brooklyn real estate market is rid of the stupid buyers then i will swoop in and buy. then i will be able to brag about how well i bought to all the message boards i populate.
phew i feel better now.
PeteBK, like Delepp, I too saw those cobble condos in 02. if I wasn’t dumb enough to believe my wife (then girlfriend) saying how she can’t cook fancy meals in that tiny kitchen, I would’ve bought it and a parking spot for ~310-320k all-in. 7 yrs later, I’m no where near seeing a “fancy meal” from my wife.
That Cobble Hill 2 bed is a real piece of junk. Living room is the size of a postage stamp and the whole place would be small even for a one bed.Can’t believe someone paid asking in this market for that. I guess there’s a sucker born every day.
petebklyn, according to property shark first sales were in 4th QTR 02.
$90K for a one bedroom is a nice price, wherever it is. Rob, if you can find a condo that takes FHA loans, you only need about $3100 for a 3.5 percent down loan and maybe you can get them to roll closing costs into the loan or the sellers will pay closing costs. 🙂
I never saw that Bushwick place, but I called about 12 times on a house on that block — maybe it was the same one. First the agent couldn’t get me in to see it, then she never called back. A year later she called and said the downstairs had been vandalized by an occupant who didn’t want to leave — that it was a foreclosure. There was a lis pendens filed on this property in 2004, so maybe it was the same one.
I almost rented the upstairs apt in the house next door. It was in near-perfect original condition, with a big ornamental grill thing separating the two parlors, and a giant pier mirror in place of a fireplace in the front parlor. The usual setup with gigantic dining room in back, small bedroom in middle with the usual array of built-ins, stained glass skylight, etc., hallway dish cupboard thingie, etc., etc.
Also saw another place for rent across the street and almost bought a short sale around the corner. On my way home from seeing one of the places, I had to call the cops because a man was beating up a woman on the street. Cops were driving by — there are a ton of police around there.
also, the slope house no doubt has a basement for storage, laundry, etc…. so add some sq. feet for that. looks very nice inside too. this is more of a condo alternative than a brownstone alternative.
these cobble hill condos weren’t around in 2002.
I remember looking at the cobble hill places when they were new(2002 I think), totally charmless and at 300K thought they were pricey.