Brooklyn Sales: Under a Million
Some of the sales recorded last week that went for $1 million or less: $250K or under: BUSHWICK 1059 Hancock Street; Price=$200,000 GMAP This is a 3,000-sf, two-family, according to Property Shark. Bushwick prices are baffling: This house is only a few blocks away from a house we highlighted last week that was smaller but…
Some of the sales recorded last week that went for $1 million or less:
$250K or under: BUSHWICK
1059 Hancock Street; Price=$200,000 GMAP
This is a 3,000-sf, two-family, according to Property Shark. Bushwick prices are baffling: This house is only a few blocks away from a house we highlighted last week that was smaller but sold for $700K. Entered into contract on 1/1/09; closed on 3/18/09; deed recorded on 5/15/09.
$300-$500K Range: PROSPECT HEIGHTS
957 Pacific Street, Unit 504; Price=$499,000 GMAP
This 802-square-foot, 1-bedroom condo in the Hello Living building Sydney was initially listed for $600,000 in April of last year, according to StreetEasy. Entered into contract on 3/24/09; closed on 4/30/09; deed recorded on 5/14/09.
$500-$750K Range: CARROLL GARDENS
192 Degraw Street, Unit 4D; Price=$600,000 GMAP
This 900-sf, 1-bedroom condo was first listed for $675,000 last August, according to StreetEasy. Entered into contract on 3/23/09; closed on 4/20/09; deed recorded on 5/15/09.
$750K-$1 Million Range: PROSPECT-LEFFERTS GARDENS
84 Rutland Road; Price=$995,000 GMAP
When this one-family townhouse was a House of the Day in September, it was asking $1,200,000. The price was reduced to $1,149,000 in October. Entered into contract on 1/30/09; closed on 4/28/09; deed recorded on 5/13/09.
192 Degraw and 84 Rutland photos from Property Shark; 1059 Hancock pic from EveryScape.
Right shillstoner! I’m proudly consistent in the praise of my neighborhood and its beautiful housing stock. Plus, Rutland Road happens to be one of my favorite blocks in all of PLG/LM. (And, no I don’t live on Rutland Road. And, no, I’m not a real estate agent or looking to sell a house in PLG/LM). I got a chance to see 49 Rutland (which went for 1.4+ Mil at the height of the bubble) while it was undergoing a major reno. Using that as my comp, I consider sale of this house — same block, same 4 stories, but what looks to be in move-in condition and post bubble — to still be worth more than 1M. The fact that someone was able to purchase it for over $400K less than 49 Rutland (even in this market) still makes it a great deal in my book. I thought that it was great price when it was featured as HOTD for 1.2M and a “steal” at the price for which it actually sold. Doesn’t matter to be a bit that you don’t agree!
PLG buyers are balking at crossing the $1M mark. . . it could be a while before prices get back to there, for all but the nicest and biggest homes.
Not a knock on the nabe — it’s just the new reality.
shillstoner: I was referring to 208 Midwood and 96 Fenimore. Those are the two most recent sales in the immediate neighborhood that I know of. Never saw the inside of the Rutland place, but even if it wasn’t high end reno, within lefferts manor it likely had a lot of details intact. Maybe it’s only a reflection of current pricing and the seller wasn’t distressed (I have no idea) but still in the long run a very good deal for the buyer, I think.
“I agree with FLH — the sale of that Rutland Road house for under a mil was an excellent deal.”
Funny, I just looked back at the HOTD comments. When this was asking $1,200,000 Brooklynista said “The buyer who can get this house, at this price, at this time, on this block in Lefferts Manor is a buyer who will get a very good deal.”
I agree with FLH — the sale of that Rutland Road house for under a mil was an excellent deal.
FLH, the 2 story you refer to was totally reonovated with very high-end finishes. I’m not sure which 3 story you mean, but if it is the one I am thinking of, it too had a very high-end top-to-bottom renovation. This house was actually in very good shape–I saw it and the kitchen and bathrooms were totally fine as is and there was no need for work–but it was not “mint” condition like those others that just sold for 995K. So I don’t think this was a great deal at all–I think it reflects current pricing.
prop shark puts lis pendens and several foreclosure notices on the Rutland house. Meaning that it may well be a distress sale. Markets returning to sanity or no, whoever got that Rutland house for under a million got a very, very good deal in the long run. Two smaller houses (a 2 and a 3 story) just sold nearby for the exact same price each.
Mopar, thanks for clearing up the DOB signage. I always saw it on wrecks but didn’t know who out it there.
I have not seen that Bushwick house. However, agree with cw, $200,000 is more in line with the area than the $700,000 sale last week. There are a number of attractive buildings for sale in the area in the 200s and 300s. However, they have very serious structural problems. They have the DOB yellow square with a slash through it. They are all foreclosures and can only be purchased with cash or a 203K loan. Some lack plumbing, some lack a roof, one had a fire.
Any two-family in Bushwick in functioning condition will be $400,000 or more.