Last Week's Biggest Sales
1. BROOKLYN HEIGHTS $4,059,000 10 Schermerhorn Street GMAP This 2-family, 5,000-sf brick house hit the market in November ’08 with an asking price of $4,495,000. The price was lowered to $4,250,000 in April of last year, according to PropertyShark. Entered into contract on 1/22/09; closed on 2/25/10; deed recorded on 3/3/10. 2. PARK SLOPE $2,950,000…
1. BROOKLYN HEIGHTS $4,059,000
10 Schermerhorn Street GMAP
This 2-family, 5,000-sf brick house hit the market in November ’08 with an asking price of $4,495,000. The price was lowered to $4,250,000 in April of last year, according to PropertyShark. Entered into contract on 1/22/09; closed on 2/25/10; deed recorded on 3/3/10.
2. PARK SLOPE $2,950,000
591 2nd Street GMAP
We fell in love with this perfectly appointed 1-family, 4,660-sf limestone home and made it House of the Day back in September, when it was listed at $3,200,000. Entered into contract on 11/24/09; closed on 2/23/10; deed recorded on 3/4/10.
3. DUMBO $2,940,000
1 Main Street; 12A GMAP
This 2,198-sf loft is located in the Dumbo Clocktower building, below one of the most expensive apartments on the Brooklyn market. According to StreetEasy, this space sold for $2,570,000 in 2006. Entered into contract on 2/5/10; closed on 2/23/10; deed recorded on 3/3/10.
4. CARROLL GARDENS $2,005,000
396 Sackett Street GMAP
This 4-family brownstone was an Open House Pick back in June, when the asking price was $2,375,000. Entered into contract on 8/26/09; closed on 2/18/10; deed recorded on 3/3/10.
5. BROOKLYN HEIGHTS $1,551,000
166 Montague Street; 8A GMAP
Located in the Franklin Trust building, this “3 bedroom, 2.5 bath apartment [has] high ceilings, over-sized windows, Brazilian cherry hardwood floors, individually controlled heating and air-conditioning, Viking designer kitchen appliances and spa-like baths,” according to the listing on StreetEasy. Entered into contract on 6/1/09; closed on 1/8/10; deed recorded on 3/4/10.
Photos from Property Shark.
By the way, besides this Schermerhorn Street house in Brooklyn Heights and 3 more in the neighborhood that sold in January, 6 other houses have gone into contract in the last 6 weeks. The Heights is on track to have more townhouses sell in Q1 than in all of 2009.
10 Schermerhorn in Boerum Hill??? That’s Brooklyn Heights! You’re going to give people a heart attack with that price.
The contract date for 10 Schermerhorn is in 2010. It’s a brownstoner error above (just like the neighborhood).
Even more interesting than the almost 25% underguess by the widget folks is the stunning mortgage on this property by Citi. If you assume that even in their eagerness to dole out some TARP funds they stuck to an 80% LTV, then the property appraised at least at $4.375 million.
Sackett has 4 family CofO but would not call 4 family as not set up or used as such.
But location often disparaged for zoned elementary school, etc.
$4 million in Boerum Hill!!! Incredible.
What’s the full URL? It’s cut off and I can’t get it to work.
Before celebrating too much, I’d read this at most as the market has bottomed out (or time on market has shortened to under 2 months) for properties in primo Grade A condition. There are plenty of properties out there that have been on the market for 6 months or longer.
Even the Sackett four family went to contract relatively quickly, but look how long it took to close. Maybe there were serious financing issues (which I have heard second hand is causing problems for buyers even of 2 family units).
LOL – Actually, it looks like the market has it bottom and is on the way back up. After an extended pause and price declines, properties are moving again. YAY!
It’s like a luxury home Fire Sale!
In all fairness, 10 Schermerhorn is Brooklyn Heights not Boerum Hill. Also a fabulous house.
It was also a HOTD back in June 2009 (http://bstoner.wpengine.com/brownstoner/archives/2009/06/house_of_the_da_706.php), which makes the data about the contract date very funky. The listing disappeared from Corcoran sometime in July, so my guess is this was a private sale and the contract date should read January 2010. Certainly if I had received a massive Wall Street bonus this would be a house I would have approached.