Last Week's Biggest Sales
1. FORT GREENE $2,800,000 180 Washington Park GMAP A House of the Day back in August, the 22-foot brownstone was owned by Spike Lee in the ’90s and hit the market with a price tag of $2,750,000. The new owner is British painter Chris Ofili, whom you might remember as the guy who offended Rudy…
1. FORT GREENE $2,800,000
180 Washington Park GMAP
A House of the Day back in August, the 22-foot brownstone was owned by Spike Lee in the ’90s and hit the market with a price tag of $2,750,000. The new owner is British painter Chris Ofili, whom you might remember as the guy who offended Rudy Giuliani in 1999 when his Holy Virgin Mary” exhibited in the Brooklyn Museum. The NYT In Transit blog describes the controversial painting as “a black Madonna that included a clump of elephant dung and a background of pornographic images from magazines.” Entered into contract on 11/10/09; closed on 1/14/10; deed recorded on 2/17/10.
2. PARK SLOPE $1,800,000
540 4th Street GMAP
When this limestone row house—filled with original details and located on a park block—was House of the Day back in November, it was listed for $2,000,000. Entered into contract on 1/23/10; closed on 2/8/10; deed recorded on 2/16/10.
3. GRAVESEND $1,800,000
2022 West Street GMAP
According to Prop Shark, this is a 5,670 square-foot 1-family house. Entered into contract on 8/6/09; closed on 2/12/10; deed recorded on 2/19/10.
4. WILLIAMSBURG $1,562,500
156 Bedford Avenue GMAP
This 3-unit building with retail space on the first floor was once home to the Print Shop, which closed in March ’09. It was listed for $1,850,000 on February 4, according to StreetEasy. But according to the deed, it entered into contract on 2/1/09; closed on 2/1/10; deed recorded on 2/19/10.
5. BOERUM HILL $1,400,000
295 Pacific Street GMAP
This four-story, 2,744 square-foot home was House of the Day when it hit the market in January ’09 with a price tag of $1,899,000 — and was named HOTD again in October ’09 when it returned to the market priced at $1,595,000. Entered into contract on 12/15/09; closed on 2/9/10; deed recorded on 2/16/10.
Photo from Property Shark.
missing from the commentary is the dichotomy of the market for upper and lower range townhouses. Per the posting by Stevie B (scarily reminiscent of The Whats posts from 2008-09), Wall Street bonuses are back in a big way.
Posted by: iwannabrownstone at February 23, 2010 12:50 PM
That is what happens when wall street criminals steal from ordinary Americans to pay themselves obscene bonuses. They are aided in this effort by the corrupt democrats in power today. Americans are waking up and are angry with the Washington – wall street cabal and are joining the tea party in droves.
***THROW SCHUMER OUT OF OFFICE!!***
“Actually the widget is getting closer to actual sales prices.” – DCB @ 11:57
Dead center! The 8% data above indicates that the spread is thinning. We shall see if this becomes prevalent, as closing price drops certainly are.
“Despite the lack of inventory, which is astonishing, prices are still declining.” – DCB @ 11:57
Dead center! Well, not exactly. It only appears astonishing when you ignore the next quote below.
“Perhaps the plan is to bring foreclosures to the courthouse in a measured way in order to create an orderly sell off as opposed to a rout. That seems to be what the market is telling us.” – DCB @ 11:57
Dead center exactly! Preforeclosure stockpiling games. Free rent for the homeowned! But beware of contingency judgements!
***Bid half off peak comps***
stupid people on this site used to call anyone who disliked their particular neighborhood a “hater.” Now you’re using it for people who think the market is still declining? That’s rich.
Another factor that seems to be missing from the commentary is the dichotomy of the market for upper and lower range townhouses. Per the posting by Stevie B (scarily reminiscent of The Whats posts from 2008-09), Wall Street bonuses are back in a big way. For houses $1MM and up in prime north Brooklyn nabes, the smart money is starting to come in. There is realization that pricing is stabilizing, the world isnt going to end (as many New Yorkers would have believed in Fall of 2008/Spring of 2009), and there is finite/dwindling supply of brownstones in quality locations. On the other hand, these same factors may not resonate for houses priced below $1MM (somewhat arbitrary number but pick your mark) because the demand side of the equation has not yet returned. As another anecdotal point of support, our mortgage banker at Wells echoed these thoughts to us this past week, saying that he has seen a wave of purchase money in North Brooklyn since mid January, perfectly timed with bonus announcements. Im not at all saying this is 2006-2007, but its hard to believe that pricing isnt stabilizing in the premium brownstone nabes. And Spike hasnt owned this place in over a decade – hard to believe that made any difference in demand. Its a massive house on the premier park block in FG, fully renovated to someone’s taste if not your own.
I wonder who’s getting kicked off next on RuPaul’s drag race?
*rob*
Sooo,
the seller is the “artist”
whose idea of art was to
desecrate a Christian saint?
…how contrived and derivitive.
yeah, I remember that showing at the Brooklyn Museum.
I wonder what **Rob** thinks about (lurking) 11217’s thinking about these sales?
antidope, time to buy now?
I wonder what 11217 thinks about DirtyHipster’s sexy bod?