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.
I’m very confident that my house will be worth more than what i have in it in 5 years…probably three years. If I were to have rented an apartment from mid 2007 (when I bought this) to mid 2013 (the three year target) I would have shelled out $2,500 per month (maybe more) and will have been out $180,000.
I’m happy with the house.
i wonder what last week’s biggest sales for MANHATTAN would be??? not really the business of this blog but it would be interesting to see….
DIBS, I think this chart is a bit more of an accurate reflection of what happens after a giant asset bubble begins to deflate:
http://www.econreview.com/events/japan/japan-n225.png
Uhh…that was kinda my point, DIBS. Look out below!
***Bid half off peak comps***
“things will be better in 5 years”
Japan, circa 1997.
***Bid half off peak comps***
Posted by: Brownstones Half Off at March 2, 2010 12:11 PM
The Japanese stock market and the real estate market actually bottomed in 2003. Look it up.
http://imgur.com/7lsW4
Smudge — you are mixing up two kinds of outliers. Of course the biggest sales are outliers on a curve of sale prices of homes that closed in Brooklyn last week. That does not mean they are outliers with respect to comps. You would need to look at comps for each to know that.
No I don’t think anyone would have bought Kane St as a flip. You never know though. But hopefully, for their sake, this house was bought by a well heeled buyer who bought outright and therefore won’t be too concerned if the house doesn’t appreciate significantly over time.
“25% above a 2007 sale price kinda throws a wrench into the bear case arguments”
Few wrenches. Many forks.
“things will be better in 5 years”
Japan, circa 1997.
***Bid half off peak comps***
“Hopefully for their sake they have the means to have bought this kind of house and are planning to live in it and not treat it as an investment.”
Do you really think someone bought Kane Street as a flip????