House of the Day: 456 Bainbridge Street
While we’re away this week we’re looking at some properties that have been on the market for a very long time…456 Bainbridge Street first came onto the market in July 2007 asking $695,000. The Bed Stuy two-family got its first price reduction that November and its been death by a thousand (okay, four) cuts since…
While we’re away this week we’re looking at some properties that have been on the market for a very long time…456 Bainbridge Street first came onto the market in July 2007 asking $695,000. The Bed Stuy two-family got its first price reduction that November and its been death by a thousand (okay, four) cuts since then. The last price decrease was to $449,000 in January of this year. One thing that can’t be helping the cause: The lack of any interior photos on the listing. (The one you see above is left over from when we wrote about this place a year ago.) It seems like a weird call because, judging from this photo, they look decent; in the absence of photos, buyers typically assume the worst. So what’s up? In this time of foreclosure, is there no price in this part of town that can get this deal done?
456 Bainbridge Street [Douglas Elliman] GMAP P*Shark
Hey Assholes get a load of this!!!!!!!
Mortgage-Bond Yields Jump, Jeopardizing Fed’s Housing Effort
http://www.bloomberg.com/apps/news?pid=20601087&sid=aw90LMfkBOeU&refer=home
Yields on Washington-based Fannie Mae’s current-coupon 30- year fixed-rate mortgage bonds climbed to 4.51 percent as of 2:17 p.m. in New York, the highest since Dec. 5 and up from 3.94 percent on May 20, data compiled by Bloomberg show.
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The 30 year Mortgage went from 5.08% to 6.52%!!!!!!!!!!!!!!!!! That’s fucking right read it again!!!! There is major radiation leakage from the Mutant Asset Bubble core reactors!
Buh bye retards (You don’t believe me) it’s been a hoot!
The What
Someday this war is gonna end…
Whistle, whistle, whistle.
Maybe the upstairs floors are a wreck.
Prices seem strangely all over the place. In December, something sold for $475,000 — reasonable enough. In January, something sold from a developer to a person for $640,000. In March, two places sold to two developers for $285,000 each. There’s also the place around the corner in Bushwick, a true brownstone, that sold for $605,000 in April, a surprisingly decent comp for the area (not a short sale, not a developer, just a good house that had been a family a long time).
Unless, of course, someone were to buy that cute red 1840s general store on the old Dutch crossroads where Cooper Ave. now is and turn it into an artist in residence program DIY trapeze welding school nightclub. 😉
High 300s? Goodness gracious, that’s what they were selling for in 2003. Prices here peaked in 2006 at about $600,000. The area has cleaned up a lot since the early 90s — in the early 90s the corner of Decatur and Thomas Boyland was a drug dealing hot spot (I don’t know about Bainbridge).
Amzi, why so low? I’m seeing similar places (original one families) all over Stuyvesant Heights and Stuyvesant East now with asking prices in the $600s (so I assume the owners would take in the 500s). And actually they’re not as nice.
Bushwick is becoming the new hip place to be — centered on Broadway/Myrtle J, Central M, and Jefferson L. This is only three stops from that. Nonetheless I would not expect this area to have any of those kind of businesses (Tandem, Northeast Kingdom) any time in the next ten years.
I am think it will be next year we hope.. I think the Bedford Historic District (which is Halsey/Arlington and Hancock btwn Bedford and Tompkins. Jefferson, Macon/ Verona and part of Putnam btw Nostrand and Tompkins)is going to go first and then your up. Your going to be in Stuyvesant Heights North. We are having a public meeting in the fall and we need you and all your neighbors to come out and tell LPC that we are in favor of landmarking.
Amzi…when do you think my block, which is “calendered” will actually be landmarked???
Why are some nabes split like this? I live in what a lot of people call Sunset Park (I say Greenwood Heights, some ambitious folks say Park Slope) and I have a PS phone exchange, PS post office and zip, but the SP precinct.