Brooklyn Sales: Under a Million
Some of the sales recorded last week that went for $1 million or less: $250K or under: CROWN HEIGHTS 345 Montgomery Street, #1F; Price=$190,000 GMAP This 2-bedroom was first listed for $279,000 in December ’07, according to StreetEasy, and by the time it was a Co-op of the Day in July ’08, it was asking…
Some of the sales recorded last week that went for $1 million or less:
$250K or under: CROWN HEIGHTS
345 Montgomery Street, #1F; Price=$190,000 GMAP
This 2-bedroom was first listed for $279,000 in December ’07, according to StreetEasy, and by the time it was a Co-op of the Day in July ’08, it was asking $249,000. The price was later reduced to $229,000. Maintenance=$751/month. Closed on 10/21/09; deed recorded on 11/20/09.
$250-$500K Range: PROSPECT HEIGHTS
175 Eastern Parkway, #6N; Price=$330,000 GMAP
This 570-sf, 1-bedroom co-op was first listed for $425,000 last summer, according to StreetEasy. When it was a Co-op of the Day this April, the price had dropped to $379,000 and was ultimately cut to $349,000 before it sold. Maintenance=$679/month. Closed on 11/2/09; deed recorded on 11/18/09.
$500-$750K Range: SUNSET PARK
571 46th Street; Price=$750,000 GMAP
This 2,832-sf, 2-family house was listed for $799,000 in July, says StreetEasy. Entered into contract on 8/4/09; closed on 9/24/09; deed recorded on 11/17/09.
$750K-$1 Million Range: CLINTON HILL
52A Lefferts Place; Price=$950,000 GMAP
This 2,880-sf house was listed for $999,000 when it was an Open House Pick this July. Entered into contract on 11/9/09; closed on 11/9/09; deed recorded on 11/20/09.
Photos from Property Shark aside from 175 Eastern Parkway, which is by logan.
not as much diff in size as I thought. Lefferts is 18+ wide whereas St James is narrower..must have an extension if propshark says 3200 sq ft and not including garden floor in sq footage for lefferts.
Although to me 500k renovation is grossly exagerated…unless pretty much gut rehab with artisan restoration of orig. details in much larger house with 100k kitch and baths.
So yes, is quite a difference… Lot of people find Lefferts somewhat less inviting…although I think is grander just not as ‘gentrified’ as other side of Fulton.
I’m going nowhere, DIBS. I will continue to call out this MAB, and all the tricks to prop it up, for what it really is and for what it really will become, rubble of intrinsic value.
***Bid half off peak comps***
quote:
2 bedroom for under $200k. Another quite affordable apt. Don’t need to be rich to live here.
yes you do. most people i know dont have 20K laying around for a deposit!
*rob*
“Still grossly overvalued on a fundamental basis though.”
This schtick is getting old, BHO. And all the buyers of such places continue to prove you wrong. Time to throw in the towel.
“still only 3 blocks”
3 blocks is a world of difference. Still grossly overvalued on a fundamental basis though. Comps on Lefferts will bottom between 0.5 and 0.75 mil. Fundamentals always win in the end. How long can FHA hold on?
***Bid half off peak comps***
“the reno was awesome but still that is a huge spread”
-If the house is a disater, you would be looking at half a million in renovations and a year of construction so the spread is not really that huge. There is also the possiblity, often overlooked here, that there is a long-time tenant rattling around in there with lifetime use of his or her room or rooms. That’s a biggie.
I know the location is better but its still only 3 blocks. the size looks almost the same to me. the reno was awesome but still that is a huge spread
diff in one Clinton Hill house to the other…more expensive is larger, renovated, better block and holy street.
BBB, it is called extraordinary renovation, on a better block on the “right” side of Fulton Street.