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.
I have to agree – that WT house is right at about 900K
BHO — so you think the flipper underpaid? Market price was higher than actual sale price for the unrenovated kensington house?
MM — Do you have higher comps for the renovated Kensington house from a year ago?
Perhaps the ugliest building in Park Slope?
WT house is interesting. We saw a house this summer on that block priced about the same as that initial ask (high 1.2) and the broker was adamant that “this is what houses here now cost”. I remember thinking 900K was more like it, but didn’t bother to bid since I was turned off by the broker. The gap between asks and sells (which is pretty big in many cases) is re-setting the comps – granted a bit more slowly than I had thought when the crash hit last year, but the direction is still undeniable and I’m convinced we have further down to go.
Thanks Kensingtonka.
I wonder how much $ they put in for the renovation.
It’s a very cute house. Is that sale price ($729K) comparable in the neighborhood?
I’ll have to check out the area. I’m not familiar with it. Actually I don’t really know where it is.
Tara, I saw the Kensington house pre-renovation – basically nothing was touched for 100+ years. Ever. It was like a time capsule. And the house looked like it was falling apart.
I am surprised they got that much, though.
One of the ugliest post war buildings in Bay Ridge. 1st Fl. studio- sounds about right….
“How does someone find out about these types of sales?”
After they close. Deals like this are for insiders only.
***Bill Thompson for Mayor***
(This 1,772-sf house was flipped by a seller who bought it for $375,000 in an estate sale earlier this year)
That has to be the best purchase of the year. How does someone find out about these types of sales?