Clinton Hill Co-op Sells Above Ask
Back in January, we featured a two-bedroom in the Clinton Hill Co-ops as a Co-op of the Day. The 15th-floor unit, which was nicely renovated and had great views, was asking $515,000–at the high end of what you usually see in this complex. The average widget appraisal came in at $458,224. According to StreetEasy, the…
Back in January, we featured a two-bedroom in the Clinton Hill Co-ops as a Co-op of the Day. The 15th-floor unit, which was nicely renovated and had great views, was asking $515,000–at the high end of what you usually see in this complex. The average widget appraisal came in at $458,224. According to StreetEasy, the place just closed for $521,000, which falls (barely!) within the 15 percent range of the widget price that we’ve come to expect. A nice comp for the Co-ops!
Co-op of the Day: 345 Clinton Avenue, #15F [Brownstoner]
It is also an interesting comp against the unit at University Towers (175 Willoughby St, #9H) that sold for $500,000 late 09 and a current listing of $525,000 for another one. It was a 3 bedroom of similar size with similar maintenance. Depending on your preferences the UT listing is closer to better transportation and the heights, but obviously, immediate area is less attractive. The UT 9H listing was also not renovated, but others have been.
As a biased owner of a 3 bedroom, I find it interesting that 3 bedrooms get very little premium over 2 beds, even though I recognize the square footage is similar.
correction to my above post. meant to say “Minksy trying to sell a 1 bdrm unit at 480 or 485k”. My $$$ is he’ll be lucky to get 400k
“I find The What’s comment above to have very limited value.”
I’m going to put my Flame thrower away for a second and hopefully you understand this post! The U.S. Government took Fannie Mac into receivership in 2009! Our Government is backstopping 7 Trillion of Fannie’s debt and we will not be able to sell Fannie’s paper. This is costing you Billions per year. If the Real Estate market is so great then why do we need intervention in the MBS marketplace???
My post has everything to do with this piece.
The What
Someday this war is gonna end..
Hooray! Somewhere in Brooklyn, an apartment went for over ask, ushering in a glorious new era of unaffordability. Seriously, what is the point of these posts? Every week “open house picks, six months later” lists properties that went for under ask.
with exception of Minksy can sell a hi flr 1 bedrm @ 480 or 485k, 1 bdrm units are still stuck in the 300k’s vs 2 bdrm units have been selling closer & closer to 500k and a few (like this one) has crossed over 500k mark.
nice view, good space, cheap price,…. but watchout for the BK Heights-like maint. ($1k for 2 bdrm units)
If I’m remembering correctly, aren’t these the coops that have a 5% flip tax when you sell?
I think it was a couple months ago when I started noticing the phenomenon of people writing, ‘this is a perfect post for The What to comment. C’mon Jonny, stop blocking his comments.’
At the risk of being subject to a flaming attack, I find The What’s comment above to have very limited value. It’s tangential to the story and predictable in its position. He’s right; he’s wrong; who cares? Not me, for one….
Good for them. The apts have nice layouts, great views and lots of windows. Someone had $125K to put down.
This is a great comp for the Co-ops, and still cheaper than most similar two bedroom two baths. To say nothing of the killer views etc.