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.
Lincolnslope:
If 300K was her total inheritance, I don’t think she should use all of it as a downpayment on a house. That being said, she will probably be unable to buy a nice house in the nabes you mentioned unless of course she was willing to buy a total fixerupper below 800K and put 150K down and use some of her inheritance to do some work.
Z stated that if you were lucky buying a 1 bedroom now you might be lucky to net 25K in the next few years
“p.s. I don’t think my studio will appreciate necessarily at all in the next 8 years, but that wasn’t the point of my comment. Again, you just want to be nasty it seems. ”
and your statement here is in agreement with his.
not quite sure what your friends who sold at the PEAK of the bubble in 2006 has to do with that. but hey, you have rich friends. good for you.
Rob, number one, she’s not a friend, she’s a work colleague.
And #2, your posts always come across as so incredibly riddled with envy and jealousy. I’m sorry that you choose to sit at home instead of make friends and I’m sorry you choose to smoke and drink away your money.
None of those are my problems.
dirty hipster: OK, I’m not going to predict 1000% returns or whatever, but isn’t the way to make back money on a home to buy when the market is down? 11217 is advising to buy in five years. If this follows the pattern of past busts, we’d still be in a trough then. If it’s even worse–then an even deeper trough. Either way, that’s the time to buy low.
Personally, I don’t think people buying their home should EVER buy with the intention of making a big equity score, financing their retirement, timing the market, etc. But if you’re going to do it, that’s when to do it.
LincolnSlope:
I’d tell her to wait another 6 months or so. We are heading into the slow season in a month or so, and the deals will be even more plentiful come this summer, I suspect.
Oh but wait…according to dh, I think buy now or be priced out forever.
Rob, Look in the mirror. Every post on this blog from you is ABOUT YOURSELF!!!
Guess what DH…this blog isn’t all about YOU.
I was merely stating in reference to Z’s comment about no one making 25K from the sale of a 1 bedroom, that it is not true. People do it all the time, and I was giving an example of someone who did it not only during the boom, but also the bust.
You talk about what you are doing ALL DAY long on the OT, but it’s not ok for me to make a real live remark about something real estate related without you jumping down my throat? It’s just stupid.
p.s. I don’t think my studio will appreciate necessarily at all in the next 8 years, but that wasn’t the point of my comment. Again, you just want to be nasty it seems.
L’slope, tell her to buy when prices go UP. that’s easier indicator of bottom is nearby (ie passed it) than to predict the bottom. If she can rent something very brownstonish at good rate, not bad idea to rent
it’s hard to ignore your post when every single post in every single thread is “my friend” and “my friend” that. jeez we get it already. you have 5000 super successful and lucky friends! gack! you make me smack my head like Cathy.
*rob*