House of the Day: 532 3rd Street
This limestone house at 532 3rd Street in Park Slope was an Open House Pick back in March 2007 when it was listed for $2,600,000; it quickly went into contract at the asking price. Now the 18-foot-wide single-family is back on the market for $3,200,000. It’s hard to see pulling off a 20% mark-up from…
This limestone house at 532 3rd Street in Park Slope was an Open House Pick back in March 2007 when it was listed for $2,600,000; it quickly went into contract at the asking price. Now the 18-foot-wide single-family is back on the market for $3,200,000. It’s hard to see pulling off a 20% mark-up from a year and a half ago, given that there’s only been bad news for the market since then. Whatever. Nice house, though.
532 3rd Street [Corcoran] GMAP P*Shark
Open House Picks 3/17/08 [Brownstoner]
11217 – last time NYC hit a real estate slump (in late 80’s, early 90s) it took many years to recover and this time, we’re uncharted territory in terms of the economy. I’m not saying it’s impossible that the dip could be short, but I also think no one really knows, and it’s equally plausible (indeed, many say it’s much more plausible) that this downturn could last even longer. Hence, sellers who are “waiting out the storm” could be in for a nasty surprise since they may find that their property values go down for a much longer time than they are currently expecting.
DOW800 – I’m having trouble telling if you’re facetious when you say this will fly now at 3.2? From the photos, it certainly looks like a nice house, though I find it odd that there are no photos of kitchens/baths. And I also find the huge mark-up to be puzzling to say the least given market conditions. Maybe they’re just praying lack of inventory will drive this but I can’t believe the potential buyer would not want to negotiate the price significantly downward. After all, there are other houses on 3rd Street that have recently been or are still on the market for less than 2.5. See http://realestate.nytimes.com/sales/detail/25-NYBA81BE/PARK-NY-11215
This 4-story house on same block (which I believe is 20′ wide) is in very good condition and at 2.35, has not yet moved…
I only posted that article, because I was always under the impression that the New York market would be the last to come back, since it seems to be the last one to suffer…
Its mind boggling to me that somebody would buy a 2.6 million dollar house and then try to sell it 18 months later. Who buys something that expensive with the intention of selling so quickly?
“New York market slated to be among first to bounce back, report says.”
Would you like to buy the Brooklyn Bridge from me?
Dave – it opened up across the street – literally (49th street)
New York market slated to be among first to bounce back, report says.
The economic downturn will drag down the real estate market, but New York City, along with other 24-hour coastal cities like Seattle, L.A., Boston, San Francisco, and D.C., will be among the first to recover, beginning in 2010, according to the Emerging Trends in Real Estate 2009 report released today by PricewaterhouseCoopers and the Urban Land Institute. The report predicts that among most property types throughout the country, vacancies will rise and rents decrease in 2009, and lending problems will spread from the residential to the commercial markets. Of the various property types, the report predicts that only the apartment rental market will remain strong, as people who are unable to purchase homes will continue to rent, and industrial, business, hotel and retail markets will take a beating. TRD
Orange sofa, mirrored tables, shag carpet…Yeah, baby!!!
A real girly bar ditto? The closest one was always Flashdancers.