House of the Day: 712 Degraw Street
At first glance, $1,395,000 for a house on Degraw Street sounded cheap to us. Now we’re not so sure. It turns out that the building is only three-stories tall and 16.5-feet wide. If the two-family house is truly in “great shape” and has “lots of original detail,” as the listing says, it could still be…
At first glance, $1,395,000 for a house on Degraw Street sounded cheap to us. Now we’re not so sure. It turns out that the building is only three-stories tall and 16.5-feet wide. If the two-family house is truly in “great shape” and has “lots of original detail,” as the listing says, it could still be well worth it There’s no mention of any significant renovation or upgrades since the property last changed hands in 2003 for $667,000 but a doubling in price in the last five years doesn’t sound crazy. Guess it all comes down to what those interiors look like.
712 Degraw Street [Leslie J. Garfield] GMAP P*Shark
Photo by Kate Leonova for PropertyShark
This house sucks Brownstoner…Please pass the blunt to your right.
you idiots
this will sell in a heartbeat
The On Prospect Park places will close in 2008 as will those super pricey units at The Vermeil.
Parts of Brooklyn might be in for a banner year.
Since 1999, gas has gone from an average price of $1.00 a gallon to now over $4.00 a gallon.
It’s not as if home prices are the only thing to double in a short amount of time.
I think that given all the talk from The What and others around here that NO ONE is able to get a mortgage, that no one is buying homes, etc that the 8.5 million dollar sale DOES mean something, actually. When you figure that another place a block away just sold for over 5 million, it appears that there are people who are wanting to invest SERIOUS money in Brooklyn. And that is a great sign, if you ask me…
When the dark days of the 80’s and 90’s were here, you couldn’t give away homes in Brooklyn, and now they are getting this kind of money? I’d say that means something. It means a lot, actually.
Doubling every 5 years this house will be worth:
$22,320,000.00
in 20 years.
Jennifer Connelly will be worthless once AY is built.
3:07, it was also said about 100 times that no one would pay 8.5 million dollars for a house in Park Slope, when one could be had for less in Manhattan (including the Tribeca place JC bought for 7 million).
So I’m not sure you can go by the usual stereotypes, since it seems some people do like Brooklyn enough to spend more here than what they could get in Manhattan.
I don’t think the sale of an $8.5MM mansion on Prospect Park West gives much indication of anything, other than Jennifer realized quite a nice gain on the sale. The home is an exception and not exactly typical of the Brooklyn market.