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’m not sure why people are calling a peak in 06/07 when the city records — and every realtor report — show they are up in every category.
” Do you have any idea how much of the city’s recent real estate gains have been driven by bankers and their bonuses? ”
Yes, I do.
20%.
3:56 – keep dreaming.
2001 – an isolated and tragic terrorist event that occured right before a very long period of sustained economic growth driven largely by tax cuts, cheap money, and financial sector.
2008 – a global credit crisis, recession in the US, a financial industry that has only just begun to cut back. No end in sight.
POINT – NYC real estate will not get out of this one unscathed. Do you have any idea how much of the city’s recent real estate gains have been driven by bankers and their bonuses? NYC may not tank completely, but no owner is going to see improvement over 2007 comps for a very very long time.
I guess I need to go Target and buy myself a crystal ball. Seems like all the cool renters have them.
3:56…
it doesn’t clash at all. i said it’s becoming.
can you read?
3:46: if a place is more desireable to live in than another, the prices would reflect that. so your second statement clashes with your first one.
agree, 3:48. after 9/11 everyone said new yorkers were all going to leave the city in droves.
not only has the population increased 250K since then, but housing prices doubled as new york city took the place as the greatest city in the world.
Most people said in 2001, prices were about to tank.
Thank god I didn’t listen.
I do not believe NYC will tank in any way.
As someone else said, this is not the rest of the country.
Burbs are losing jobs, NYC is creating more.
Brooklyn is becoming MORE desirable in some senses than Manhattan 3:44.
If Manhattan prices are already higher, wouldn’t logical thinking say they can’t go higher, but Brooklyn still has room for growth??