Brooklyn Sales: Under a Million
Some of the sales recorded last week that went for $1 million or less: Under $250K: PARK SLOPE 195 Garfield Place, Apt. 4H; Price=$230,000 GMAP This 400-sf studio co-op was originally listed for $299,000 last November, according to StreetEasy. The price was reduced to $280,000 in January. Maintenance=$423. Entered into contract on 2/27/09; closed on…
Some of the sales recorded last week that went for $1 million or less:
Under $250K: PARK SLOPE
195 Garfield Place, Apt. 4H; Price=$230,000 GMAP
This 400-sf studio co-op was originally listed for $299,000 last November, according to StreetEasy. The price was reduced to $280,000 in January. Maintenance=$423. Entered into contract on 2/27/09; closed on 4/14/09; deed recorded on 4/21/09.
$300-$500K Range: CROWN HEIGHTS
1368 Park Place; Price=$495,000 GMAP
This is a 2,952-square-foot, 2-family, according to Property Shark. Entered into contract on 12/3/08; closed on 3/23/09; deed recorded on 4/21/09.
$500-$750K Range: BUSHWICK
1305 Bushwick Avenue; Price=$605,000 GMAP
A 3,000-square-foot, 2-family house, according to Property Shark. The listing history on StreetEasy says it hit the market last April for $624,000 and its price was reduced several times, until it was asking $545,000 in September. Perplexing that it sold for more than the last ask after being on the market for awhile. Entered into contract on 1/5/09; closed on 4/17/09; deed recorded on 4/24/09.
$750K-$1 Million Range: RED HOOK
52 Dikeman Street; Price=$980,000 GMAP
Last November, when this 2,620-sf, two-family was an Open House Pick, it was listed for $975,000. It got the Times treatment that month and did not linger on the market. Entered into contract on 1/21/09; closed on 4/9/09; deed recorded on 4/21/09.
Photos from Property Shark.
Well 11217 typically what you say is the same ol bullshit. “my friend bought _______ and sold it for 1000% more”
you read the news right? I don’t think anyone can expect that kind of return on real estate in the near future.
that’s great for your friends that timed the market and made a killing – but for people like me who are scrimping and saving every penny to get started, I don’t think it’s unrealistic to think 5 years down the road my starter studio will not have appreciated in value at all.
This brings up an interesting question. I have a friend who just had a passing in the family and inherited $300k. They are not rich by any means, but the person left their savings to them. What and when would you recommend them to do with it if you know they are interested in a Brownstonish lifestyle in the PS, CobbleH, BoerumH type area. When would you buy? Thoughts? I know this is not the place for it, but it goes with the Convo. Oh, I think she makes around $120k a year.
DH, no matter what I say, you’ll say the opposite. It’s getting rather old. No one said the PS studio will be worth anything in 8 years. Give it a rest, will ya.
If I’m THAT offensive to you, how about you ignore my posts then, because the childish behavior of contradicting every single thing I write is SO boring.
🙁 MsHook
Really love your nabe! Almost rented a place on Van Brunt 2 years ago – but the whole transport thing scared me (weren’t they talking about totally shutting down the Smith-9th station for 2 years or something insane?)
“And P.S….the SAME woman I referenced bought a 2 bedroom when she sold her 1 bedroom in 2006…I believe she paid around 750K for it and sold it in February of this year for 1.2 million. That’s 950K profit in a decade from those 2 sales, although she did do some significant renovations to the 2 bedroom…so less than that, but still…”
Damn – i’m really screwed if in 8 years this Park Slope studio will be 750k. Everyone buy now or be priced out forever!!
And P.S….the SAME woman I referenced bought a 2 bedroom when she sold her 1 bedroom in 2006…I believe she paid around 750K for it and sold it in February of this year for 1.2 million. That’s 950K profit in a decade from those 2 sales, although she did do some significant renovations to the 2 bedroom…so less than that, but still…
I don’t doubt she’ll be “set for life” from buying and selling real estate given she’s not even yet 40.
Sigh. As usual, here I am chearleading for Red Hook’s transportation options. Two buses! Train is not that far a walk! Bikes! Water taxi! Lots of permutations which make for a less boring commute, in my book. There are many very good restaurants within pleasant walking distance (Columbia St included), and lots more in the renovation/planning stage. And DH, you stay away, we have enough of your kind!
I’m not suggesting it as a retirement plan, merely stating that people have indeed made more than 25K on selling a 1 bedroom apartment. You people want to argue about anything and everything. I love a good debate too, but there is nothing to debate here. LOTS of people have indeed retired off income from a house or apartment sale, and I have no doubt that this will continue to be the case in the future for some people who are lucky enough to buy low and sell high.
11217, sure it’s good. but huge gains like that are unlikely to happen again any time soon. and it’s irresponsible to suggest these days that anyone can be “set for life” by buying and selling an apartment. “set for life” means winning mega millions, or buying microsoft in the 1980s, or divorcing mel gibson.