Brooklyn Sales: Under a Million
Some of the sales recorded last week that went for $1 million or less: $250K or under: BAY RIDGE 7423 Ridge Boulevard, #1H; Price= $125,000 GMAP This studio was listed for $135,000 in April, according to StreetEasy. Maintenance=$369/month. Closed on 10/9/09; deed recorded on 10/16/09. $250-$500K Range: PARK SLOPE 943 President Street, #2R; Price=$460,000 GMAP…
Some of the sales recorded last week that went for $1 million or less:
$250K or under: BAY RIDGE
7423 Ridge Boulevard, #1H; Price= $125,000 GMAP
This studio was listed for $135,000 in April, according to StreetEasy. Maintenance=$369/month. Closed on 10/9/09; deed recorded on 10/16/09.
$250-$500K Range: PARK SLOPE
943 President Street, #2R; Price=$460,000 GMAP
This 2-bedroom co-op was first listed for $549,000 last September. Its price was cut a couple times, and it was last listed for $475,000 in May. Maintenance=$659/month. Closed on 10/6/09; deed recorded on 10/14/09.
$500-$750K Range: KENSINGTON
246 East 5th Street; Price=$729,000 GMAP
This 1,772-sf house was flipped by a seller who bought it for $375,000 in an estate sale earlier this year, according to Property Shark. The sellers renovated, according to the house’s listing, and were initially asking exactly what the property sold for. Entered into contract on 7/30/09; closed on 10/7/09; deed recorded on 10/16/09.
$750K-$1 Million Range: WINDSOR TERRACE
8 Fuller Place; Price=$900,000 GMAP
This 1,452-sf, single-family was listed for $1,275,000. Entered into contract on 6/29/09; closed on 10/7/09; deed recorded on 10/16/09.
Photos from Property Shark.
“The gap between asks and sells (which is pretty big in many cases) is re-setting the comps.”
Can someone translate this statement into English?? Miss Muffet, you’re a master of obfuscation.
antidope, I’m pro-renting now buy later. you can look up my post history to confirm it. nothing against renting. I’m even thinking hard of selling residence and rent to wait out price correction. Rather was pointing out that you’re not even actively or recently involved in bidding, buying a place so for you to lecture some of us with experience getting good deals how to bid, etc. is indeed like a newborn trying to teach parents how to walk & talk.
Nothing wrong with being an uninvolved sideline commentator but when you over-reach with lecturing on something you’re not an expert on, don’t be surprised someone calls you out on it – ie no diff than when you jump on folks with comments you find outlandishly bearish
“someone who appears to be renting”
is that supposed to be a smear? that is so 2007. despite your declaration that i’m a bull, i can think of ten good reasons to be a renter in 2009.
“leave the action on the field to the real professionals”
really? wow. wow. wow. if you say so.
antidope, I know a weaker counterparty when I see one. play poker with you anytime my man. go bid on something before you pretend to be an expert. in the meantime, stick to your sideline commentator role and leave the action on the field to the real professionals
Meant to respond sooner – busy day at work. Re: not putting in an offer on other WT house – my earlier post put too much emphasis on broker as reason we did not bid. Of couse, if we loved the house, we would have done so, regardless of the broker. But we did not love it, so maybe even if we had liked the broker we would not have bid. That said, we have come to realize that we will have to make compromises when we finally buy, but we weigh those compromises carefully. The WT house I saw had lots of compromises, and would only have been worth it to us at a much lower price. The broker indicated to us point blank she would not consider low offers, so we did not want to waste our time. Maybe if she had indicated some flexibility, we would have at least had a longer discussion about whether to put in a bid – or maybe we would have still decided it wasn’t worth it.
Also, antidope – thanks for the correction. I did not notice how small this WT house was. The WT house we saw was bigger. Last I looked, the broker finally cut the price but since we really aren’t interested in that house, I stopped tracking it.
you are right about making low offer if see the prop has been sitting around for awhile.. But I doubt at open house or shortly after would likely happen.
hey man, you’re failing the “fun little experiment in anger management.” ha ha ha.
one further free suggestion, stay away from high stakes poker. you can thank me later.
adios from acapulco.
for someone who appears to be renting, not looking to buy, have not bid on something, etc to lecture someone who has proven track record of buying ppties at great deals is like a newborn offering to teach parents how to walk & talk.
unless there’s no other comparables in mkt to bid on, it’s better use of time & effort on ppties where both brokers & sellers appear to be more willing to try to work out a deal. Dumb brokers are great for buyers. But DUMB adament brokers with pipe dream FIRM prices are a waste of time for everyone and especially when other more amenable options are abound.
Park Slope apt definitely one of worst layouts in Brooklyn, but the price reflects that.
Re estate sales, Tara, they go on the market like anything else. The buildings I have seen in person going for very low prices (200s and 300s) have not necessarily been estate sales, but they have been uninhabitable, which means they require an all-cash or 203K buyer (and the willingness and ability to do extensive renovations). That’s why they are so cheap.