Last Week's Biggest Sales
1. COBBLE HILL $3,050,000 227 Kane Street GMAP This 4-bedroom, 3 1/2-bathroom landmarked brownstone sold for $2,429,000 back in 2007. The listing says the building has a “huge country kitchen,” central air, 2 working fireplaces, and 3 decorative fireplaces: “The just-renovated townhome has everything today’s home buyer could want, enveloped in the beautiful flooring, plaster…
1. COBBLE HILL $3,050,000
227 Kane Street GMAP
This 4-bedroom, 3 1/2-bathroom landmarked brownstone sold for $2,429,000 back in 2007. The listing says the building has a “huge country kitchen,” central air, 2 working fireplaces, and 3 decorative fireplaces: “The just-renovated townhome has everything today’s home buyer could want, enveloped in the beautiful flooring, plaster and crown moldings, columns, marble mantles, and extensive details that denote the traditional luxury of an historic brownstone.” Entered into contract on 10/30/09; closed on 2/4/10; deed recorded on 2/23/10.
2. BENSONHURST $1,525,000
7819 Bay Parkway GMAP
Built in 1930, this 1-family with a garage has 2,046-sf residential space and 1,934-sf commercial space, says Property Shark. It appears that the former owner used the commercial space as an ophthalmologist office. Entered into contract on 10/1/09; closed on 2/23/10; deed recorded on 2/16/10.
3. WINDSOR TERRACE $1,300,000.00
536 17th Street GMAP
This brick row house was an Open House Pick early last month, when the asking price was $1,295K. But the listing offers it at $999K and describes it as a 2-family used as a 1-family with “4+ Bedrooms, 2 Baths… Exposed Beam & Brick, Tin Ceilings Red Oak 3″ Plank Floors.” Entered into contract on 12/10/09; closed on 2/11/10; deed recorded on 2/24/10.
4. DITMAS PARK $1,298,000.00
1600 Dorchester Road GMAP
This gorgeous Victorian with a very tasteful pool was a House of the Day back in June, when the asking price was $1,525,000. Entered into contract on 12/3/09; closed on 1/22/10; deed recorded on 2/24/10.
5. MANHATTAN BEACH $1,200,000
64 Amherst Street GMAP
According to PropertyShark, this 1,944-sf 2-family home was built around 1920 and has a garage. Entered into contract on 10/12/09; closed on 2/1/10; deed recorded on 2/24/10.
Photos from Property Shark.
Which data point is more informative? The fact that 1 sold at $3 million or the fact that 29 didn’t?
Posted by: Ledbury at March 2, 2010 2:24 PM
Thuis is exactly the type of shoddy statistical slight of hand that pervades these discussions!!! 🙂
The issue is that inventory is quite low and there is NOT the equivalent of 29 unsold properties on the market…in ANY price range…for brownstones in brooklyn.
Slopefarm,
I think you and Smudge both have good points.
The “Last Weeks Biggest Sales” thread is, of course, a valid indicator of the highest priced market.
The “6 Months Later” thread is, of course, a valid indicator of a broader market.
Yes, pigeon. But I think it gets used during fashion week a lot too.
It is as valid a data point as any, if appropriate reference points for comparison are available.
Just to play devils advocate, this isn’t necessarily true.
Lets say there where 30 identical $3 million houses on the market and Brownstoner ahs a big day and puts all 30 on the Open House list. We then see on a “last weeks biggest sale” that 1 of these 30 has sold for $3 million. Mr. B then posts the 6 months later which shows 1 sold and 29 unsold. Which data point is more informative? The fact that 1 sold at $3 million or the fact that 29 didn’t?
Dibs,
So “outlier” is just a BHO phrase! I was wondering whether “outlier” might be a term of art about which I was unfamiliar.
536 17th st house is getting mixed up with 574 17th st which is still available $999K.
Great to see some love for the WT on Last Week’s Biggest. That is one bullish price for the neighborhood, correct link or not. 1.3 mil and not even a limestone, not even on Sherman. Seems like WT sales continue to be strong, pre-Marty and post-Marty.
The “outlier” phrase is used by BHO to mean essentially anything that doesn’t fit his world view.
Pigeon, it is a small point, but smudge said:
“The [thread] doesn’t tell you as much about the overall market as, for instance, Open House Picks: Six Months Later. Popping up regularly to post an “Aha! Take that, bears!” comment in Last Week’s Biggest Sales, while ignoring better metrics, is just goofy.”
My point is that pigeon misreads the nature of the “take that, bears” comment made aboce in response to the Kane Street house. It was with reference to earlier price for tht same house. It is as valid a data point as any, if appropriate reference points for comparison are available.