House of the Day: 145 Bergen Street
From what we hear, the market for nice houses in Boerum Hill is still pretty tight. And compared to some houses in the area that have been on the market recently, the $2,000,000 asking price for 145 Bergen is not particularly high. That said, there are too many question marks with this place to feel…
From what we hear, the market for nice houses in Boerum Hill is still pretty tight. And compared to some houses in the area that have been on the market recently, the $2,000,000 asking price for 145 Bergen is not particularly high. That said, there are too many question marks with this place to feel optimistic about its chances of selling at this price. The house had its last major makeover back in 1968 and, given the fact that it’s a four-family rental, it’s unlikely that the interiors are in great shape. (The lack of photos lends credence to that theory.) Has anyone been inside this place?
145 Bergen Street [Craigslist] GMAP P*Shark
Sales within the last 6 months
Four Families
Radius 1/2 mile from 145 Bergen St.
Address Sale price Gross SF Price per SF Date closed
125 Butler St $1,700,000 3,675 $462 12/17/2007
21 Tompkins Pl $2,563,000 3,375 $759 1/17/2008
194 Baltic St $2,000,000 4,400 $454 12/20/2007
81 State St $2,900,000 3,532 $821 2/13/2008
I’m dizzy from the comments about 145 Bergen Street. Ex-lease means month-to-month. There are NO rentcontrolled or stabilized tenants as our listing asserted.
Some personal observations about ownership:
My first house in Brooklyn, around the corner, cost me $9,000 in 1970. I may have overpaid. Lived there 24 years. 3 years ago I bought for cash (saving $50,000 in fees) my current home on Pacific Street/Bond at
$1,250,000. Like 145 Bergen it was a 4 fam.
Invested $250,000 to duplex the bottom 2 floors. I could sell for $3,000,000 today if I wanted to. There are other houses in the same nabe that are up to $4,000,000.
Net of the above: the Pacific house was the better deal. Go figure. My best guess is that this asset is appreciating at 13% annually. All housing markets are unique and this one happens to have been golden. I don’t
know about yours–I just hope it has been as good.
This bear Stearns news is a real kick in the nuts.
Dubai=Las Vegas, not NY
2:20 and 8:52: I can’t believe u r giving away these tips for free. Have you considered an infomercial?
NYC’s market will always be good unless a Nuke goes off, u naysayer’s don’t know about the market, just keep on renting. Condo conversions will make me even richer, remember even if the market tanks slightly I can rent them for high dollar until it comes back, either way its a win-win for me and anyone else with half a brain, so get over it. God I can’t beleive how many people just don’t know what the hell thier talking about. You people believe if u think it ts true, losers.
Yeah, 1:25 but you forget The What and others here think NYC is exactly the same economy and market as Kansas. Which is why they now can’t afford to buy something or in other cases afford to upgrade to a house. They kept waiting thinking prices would either be the same 5 years later or even lower.
Mainly though I think it’s because The What actually is in Kansas or the suburbs. I don’t believe for one millisecond he lives in NYC. He’s never indicated he does. He only posts stuff he reads on national news websites. He doesn’t name specific examples of houses on his block that sold or didn’t sell, etc. or tell anecdotes about friends who bought or sold properties here like everybody else does when presenting an argument. Nothing he says in his arguments show he has a real knowledge of the Brooklyn communities. Today he tried to claim there’s a realtor here he knows, on another thread, but think about it. Anybody anywhere can phone up a realtor and ask a question. No proof of anything.
there hundreds of thousands of new yorkers with at least a million in assets.
the bubble will continue here, just as it does in nearly every major world city.
you think prices in nyc are going to go down when london, tokyo, zurich, dubai continue to skyrocket?
you’re nuts.
this is new york city. the capital of the world.
12:14 If you’re at BSC, shouldn’t you be too busy to be posting here with your shop going to the fed window begging thru JPM and with the stock down 40% on the day?