Just Sold in Brooklyn
BROOKLYN HEIGHTS $790,000 363 Henry Street Prewar two-bedroom, two-bath co-op in a pet-friendly brownstone, 1,040 square feet, with modern kitchen, herringbone floors, floor-to-ceiling windows, fireplace, washer/dryer, windowed AC and E/W exposures. Maintenance $748, 22 percent tax-deductible. Asking price $799,000, on market 104 days. Broker: Steve Gerber, The Corcoran Group BROOKLYN HEIGHTS $635,000 161 Remsen Street…
BROOKLYN HEIGHTS $790,000
363 Henry Street
Prewar two-bedroom, two-bath co-op in a pet-friendly brownstone, 1,040 square feet, with modern kitchen, herringbone floors, floor-to-ceiling windows, fireplace, washer/dryer, windowed AC and E/W exposures. Maintenance $748, 22 percent tax-deductible. Asking price $799,000, on market 104 days.
Broker: Steve Gerber, The Corcoran Group
BROOKLYN HEIGHTS $635,000
161 Remsen Street
Two-bedroom, 1 1/2-bath co-op, 1,100 square feet, with wood-burning fireplace, pass-through kitchen, terrace, hardwood floors and southern exposure; building is pet-friendly and features roof deck and elevator. Maintenance $1,172, 50 percent tax-deductible. Asking price $635,000, on market 126 days.
Brokers: Gary Lacy and Andrew Rosen, Citi Habitats
CLINTON HILL $193,000
195 Willoughby Avenue
Studio co-op, 420 square feet, with full separate kitchen, alcove dressing area and northern exposure; Willoughby Walk building is pet-friendly and features full-time doorman. Maintenance $328, 33 percent tax-deductible. Asking price $199,000, on market five months.
Broker: Iris Williams, Citi Habitats
PARK SLOPE $580,000
195 15th Street
Two-bedroom, two-bath condo, 1,010 square feet, with new stainless-steel kitchen with granite countertops, terrace, new windows and N/E exposures; building is pet-friendly and features elevator. Common charges $398, taxes $623. Asking price $585,000, on market 115 days.
Broker: John Carapella, Citi Habitats
PARK SLOPE $450,000
333 Fourth Street
Prewar one-bedroom, one-bath co-op, 750 square feet, with eat-in kitchen and N/S exposures with open city and rooftop views; building features laundry, bike room and live-in super. Maintenance $702. Asking price $459,000, on market one day. Broker: Jesse Temple, Prudential Douglas Elliman
Just Sold! [NY Post]
actually, 4 out of 5 are co-ops
These are CONDOs. Completely different market from brownstones. Conventional wisdom is that the softening of the condo market is seen first as a result of rising interest rates. Rising rents on the other hand, may bolster the browstone market, increasing the economic attractiveness of the cash flow to be generated from rental apartments. Brownstones while not impervious to rising interest rates may be more resiliant, given limited supply and different demographics involved. Maybe not, but hard to generalize from a handful of condo sales to the brownstone market, in my opinion.
We also don’t know what incentives were offered by the sellers — to come in below ask after 4 months during the busiest season of the year is not good.
it has to be a listing to contract time frame. Otherwise the one on fourth street would have had to be an all-cash deal that exchanged hands within a day. Not sure if that is at all possible.
I was struck by how close to asking price these properties sold at. Any idea of where they were listed initially? Hey, it takes a month or two just to get the paperwork and bank approvals all in order. These were all co-ops or condos, where there is more paperwork than on a house. Assuming the time to sell is just that, and not time from listing to contract signed, 3 or 4 months sounds pretty normal. There might be more for sale out there, but the market didn’t evaporate.
FYI: The “Brooklyn Heights” sale at 363 Henry is actually in Cobble Hill, at Congress Street.
In an average or balanced market — how long would you expect something to be on market and what difference between asking and selling prices you expect?
I think some folks ideas are based on last few years and not on any real historical perspective.
11:44–gimme a break. everyone one of those was w/in 2% or less of the asking price. i wouldn’t call that “not hitting the asking prices…ouch”…that seems like an overstatement.
it seems like all the apts, with the exception of 333 Fourth Street averaged about 4mths on the market. 3 mths on the market is typical…maybe more signs of a slowing market.