Condo of the Day: 535 Dean Street Penthouse Price Cut
Can you say Atlantic Yards Effect? There’s no other reason we can think of (other than that pesky global financial crisis, of course) to explain why this 1,400-square-foot penthouse at 535 Dean Street in Prospect Heights just had to cut its asking price from $899,000 to $799,000. In its current configuration, it’s also not much…
Can you say Atlantic Yards Effect? There’s no other reason we can think of (other than that pesky global financial crisis, of course) to explain why this 1,400-square-foot penthouse at 535 Dean Street in Prospect Heights just had to cut its asking price from $899,000 to $799,000. In its current configuration, it’s also not much of a family apartment either. Still, you’d think there’d be at least one childless buyer out there who would be digging the open space and views (and rather low monthyl maintenance of $701). What gives?
535 Dean Street [Corcoran] GMAP P*Shark
“i fully expect prices to settle by 10, maybe 15% over the next year or two, and probably stay there for a while. But it would take a disaster of monumental proportions to cause NYC real estate to lose much more than that.”
See this is the thinking among the fucking clueless. Asset prices are getting ready to CRASH! The FED has been trying to prevent DEFLATION, Got it!. Thats why shit is so high now (Food, Gas, Rent and Mortgage payments).
Pay attention to Bear Sterns, people are losing their jobs left and fucking right! If people don’t have any money or jobs, how can they afford buying your overpriced piece of shit!
A depression is coming! You have to pay for a fucked up war (3 Trillion)! A Mutant Real Estate Bubble (6.5 Trillion)! Plus golden parachutes for the BIG BOYS!
You retards got assraped during the Bush administration! Yep you thought you was rich but, you are in debt. Fuck all of the specuvestors. Oh BTW you see ALL THOSE FUCKING CONDOS around you, they will become future homeless shelters. LMMFAO!!!
The What (I said 2008 is going to be a fuck you year assfuck)
Someday this war is gonna end….
if you bought in brownstoneristan in 2000 (as I did) your place tripled to quadrupled in value in the interim.
i fully expect prices to settle by 10, maybe 15% over the next year or two, and probably stay there for a while. But it would take a disaster of monumental proportions to cause NYC real estate to lose much more than that.
Don’t these two realize Sunday March 23 is Easter. I wonder this apartment can’t sell. Dumb Jews.
Over those fifteen years, I will have saved the $500K you’ve paid the bank in interest, and I will have lived in a much nicer place than the one you’ve lived in, because until housing prices fall significantly, renting is going to be much cheaper than owning.
The math isn’t that complicated — in Brooklyn, housing prices have skyrocketed since 2001. Rents haven’t gone up anywhere near as much. So renting is far cheaper today, relatively speaking, than it was seven years ago. For the same monthly price, you can get a vastly nicer place renting than buying.
Not to mention the fact that this apartment is going to be worth the same ten years from now as it is today.
one thing goes against the renters argument, its called inflation. if i buy a condo for 670 k with 10 percent down figure 600 mortgage
mortgage 3600
cc 700
4300- tax deduction 1000 – equity 400 = 2900 a month. even with my tax deduction slowly going away think 15 years later i will still be paying about 3200 dollars.
if you think this apartment which will rent now for 300o dollars what do you think it will rent for 15 years from now. 4000??? more. renting at the same price of buying is never good if your going to stay even with no appreciation.
“Just like they do in London, Paris, Tokyo, Syndey, Dubai and Zurich”
Can’t speak about any of the other places (like the other poster already did), but Tokyo is definitely not going up like this person thinks. At the peak of their bubble in the 80s, the imperial grounds in the center of tokyo were worth more than california. corporate workers were moving so far away that they had to take the shinkansen to get to work. tokyo today is still very far below its 80s peak in real terms and often even in nominal terms. today you can buy a small 2 or even 3br house (small by our standards, mid-size by japanese standards) for about $600-800k in tokyo proper. may not be the hippest hood, but it is actually in tokyo. there are apartments in yokohama (maybe the jersey of tokyo?) that sold for $1mn in the 90s even after the boom that are being sold for $350k now. anecdotal, but i have seen it.
Ahhhh 8 yrs ago those were the days. Back then I signed up for a fixed 30 yr mtg. Now I have 22 yrs left till my pay off party!!!
“Where can you find a 2 BR Manhattan doorman apartment for under a million?”
Anywhere above 110th Street.
Or Murray Hill.
Or East East Village.
this place isnt 1400sqf. Maybe 1100.