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.
rob, I am in the same boat with you man. I saved 15K myself (which I used for renovations) while living with parents BUT wouldn’t be able to afford buying my first apartment without a little help from them. I mean, I would eventually but it would have taken way longer.
“Studio rentals in this part of PS are still around 1500 or so I’d say, so this is definitely back to “normal” pricing for a PS studio.”
The Park Slope studio proves that in some cases it is cheaper to own then rent a similar space.
But for some people it comes down to not having the down payment. It’s not as clear cut as “you can own this for 1,000 or rent for 1,500”
50k is alot of money.
I love the Red Hook house and love the neighborhood. It might be only 25% overvalued rather than what I would say has be 50% overvalued for pretty much everything else (PS studio is also an exception)
One could easily park on the street and get a parking spot near the F line for under $200 if the lack of transportation was a significant issue.
quote:
If you have or can get about 10K down
oh man thanks for the heads up. i just wish i had 10K to plunk down, if i did i totally would. unfortunately im a stupid man-child who never saved a penny and wasted all his money on video games, beer, and cigarettes. let this be a word to the wise if anyone is reading this and under 30. dont waste your money on stupid stuff if you dont have it!!!
granted i guess i could start saving now and in a few years maybe have a down payment for something. it’s a little difficult tho when you live paycheck to paycheck to save anything. i think that’s how some people turn into “bitter renter” lifers. :-/
*rob*
Yes, it is an elevator building.
I looked at a couple units in this building when I was looking to buy. It’s a nice, well maintained building and seems to have studios up for sale relatively often. Back then they were around 300K or so…
The couple I looked at had dated kitchens (which this one seems to as well) but they were fully functioning. I just didn’t like the idea of living in a studio and needing to renovate the kitchen…I wanted something a little more “finished.” Otherwise, the building seems nice, but I’m glad I ended up in a brownstone instead.
bococaloca, I stand corrected. My apologies then.
Actually, it’s an elevator building.
4th floor is great in my book. I love a higher floor for the light, and nobody is stomping around above your head.
Don’t forget that studio is a 4th floor walk-up so that also weighs on the price.