Brooklyn Sales: Under a Million
$250K or under: KENSINGTON 599 East 7th Street #4C; Price=$147,500 GMAP This studio was first listed for $189,000 way back in early 2007, according to StreetEasy, and its price was cut a number of times as it bounced between brokerages. Ad said: “This spacious L-shaped Studio Co-op has a renovated kitchen, hardwood floors, dressing room…
$250K or under: KENSINGTON
599 East 7th Street #4C; Price=$147,500 GMAP
This studio was first listed for $189,000 way back in early 2007, according to StreetEasy, and its price was cut a number of times as it bounced between brokerages. Ad said: “This spacious L-shaped Studio Co-op has a renovated kitchen, hardwood floors, dressing room and great closets. Possible conversion to a junior 1 and located just off Cortelyou Rd in a doorman building with laundry, storage and indoor garage.” Maintenance=$426/month. Closed on 2/1/10; deed recorded on 2/12/10.
$250-$500K Range: BROOKLYN HEIGHTS
96 Schermerhorn Street, #11E; Price=$355,000 GMAP
StreetEasy says this 775-sf 1-bedroom was first listed for $392,500 last March. Maintenance=$1,076/month. Closed on 2/4/10; deed recorded on 2/11/10.
$500-$750K Range: BEDFORD-STUYVESANT
622 Jefferson Avenue; Price=$570,000 GMAP
This 2,712-sf single-family house was listed for $690,000 when it was an Open House Pick last summer. Entered into contract on 10/13/09; closed on 1/20/10; deed recorded on 2/12/10.
$750K-$1 Million Range: VICTORIAN FLATBUSH
500 Marlborough Road; Price=$837,500 GMAP
Does this price strain credulity or offer an example of where the market is right now in Victorian Flatbush? The 2,613-sf two-fam last sold for $1,364,750 in early ’08. Entered into contract on 10/19/09; closed on 1/21/10; deed recorded on 2/11/10.
Photos from Property Shark.
The average loan in default is now more than 18 months stale. The banks have been very reluctant to foreclose. But a borrower 18 months in default is NEVER going to pay up. Sooner or later (And its got to be sooner), these properties hit the courthouse steps. Watch out below!!!!
Maybe Marlborough was a transfer between relatives? it seems a lot les expensive than anything else I’ve seen right around there.
But the home price collapse is an equal opportunity destroyer. It is spreading well beyond the ghetto.
***Bid half off peak comps***
Posted by: Brownstones Half Off at February 19, 2010 11:57 AM
BHO, I am not sure about that. The Washington-Wall street cabal is powerful. The american people are getting a$$ raped every day by them. Think of everything that the treasury and the Fed have done for the benefit of wall street banks and at the detriment of the rest of the country:
1) TARP bailout
2)Fed letting banks borrow money for free
3) Fed taking toxic mortgages off the hands of wall street
4) FDIC guaranteeing bank debt
5) AIG backdoor bailout of Government Sachs
Things of the billions of obscene bonuses handed out to employees of wall street bank this year. WHERE IS THE JUSTICE???
**THROW SCHUMER OUT OF OFFICE THIS NOVEMBER!!!***
Last hired, first fired. Last to appreciate, first to detonate. Life aint fair in the ‘hood.
But the home price collapse is an equal opportunity destroyer. It is spreading well beyond the ghetto.
***Bid half off peak comps***
Marlborough Road HOTD two and a half years ago.
http://bstoner.wpengine.com/brownstoner/archives/2007/08/house_of_the_da_364.php
Posted by: Sparafucile at February 19, 2010 11:37 AM
40% off from last sale price in early 2008!!!!
The more desirable neighborhoods are holding up better thhough, because of the all the money that the wall street banksters are able to steal from tax payers.
*THROW SCHUMER OUT OF OFFICE THIS NOVEMBER!!*
“Does this price strain credulity or offer an example of where the market is right now in Victorian Flatbush?”
The latter. And it’s spreading elsewhere.
***Bid half off peak comps***
“I thought places up that away [622 Jefferson] were more like in the 500 range.” – Posted by: mopar at August 7, 2009 4:15 PM
You thought right, mopar. But “it won’t stay that way”.
***Bid half off peak comps***
Jeez. Was 500 Marlborough even listed?
Something ain’t right.
Not a FHA loan when it’s a million dollar loan plus a $300k heloc. I think it’s called irrational exhuberance.