Last Week's Biggest Sales
1. GRAVESEND $3,750,000 1954 East 4th Street GMAP For the second week in a row, Gravesend gets the biggest sale. This 1,972-sf home has 4 bedrooms and 2 bathrooms, and according to StreetEasy, it was listed at $5,400,000 in May ’09. Entered into contract on 11/20/09; closed on 3/2/10; deed recorded on 3/17/10. 2. WILLIAMSBURG…
1. GRAVESEND $3,750,000
1954 East 4th Street GMAP
For the second week in a row, Gravesend gets the biggest sale. This 1,972-sf home has 4 bedrooms and 2 bathrooms, and according to StreetEasy, it was listed at $5,400,000 in May ’09. Entered into contract on 11/20/09; closed on 3/2/10; deed recorded on 3/17/10.
2. WILLIAMSBURG $1,527,375
1 Northside Piers #PH-1 GMAP
This 3-bedroom, 3.5-bath, 1,877-sf condo at Northside Piers was listed at at $1,799,990 in September ’09, says StreetEasy. Entered into contract on 11/7/09; closed on 2/25/10; deed recorded on 3/16/10.
3. BROOKLYN HEIGHTS $1,425,550
360 Furman Street # 212 GMAP
Not much info on this condo except that it’s located in One Brooklyn Bridge Park, according StreetEasy. Entered into contract on 12/21/09; closed on 2/25/10; deed recorded on 3/16/10.
4. SOUTH SLOPE $1,250,000
353A 14th Street GMAP
According to its listing, this 1-family home “has been PARTIALLY renovated and restored but WILL require some TLC from its new owner. It is an unbelievable opportunity to create a dream kitchen off the FANTASTIC ‘greenhouse’ dining room extension on the lower level.” StreetEasy says it was listed at $1,200,000. Entered into contract on 1/13/10; closed on 3/4/10; deed recorded on 3/18/10.
5. BROOKLYN HEIGHTS $1,188,819.09
360 Furman Street #1219 + parking space GMAP
Another sale at One Brooklyn Bridge Park. Entered into contract on 11/12/09; closed on 3/12/10; deed recorded on 3/17/10.
Photos from Property Shark and StreetEasy.
You guys have never been to that part of Gravesend to speculate fraud. It’s a whole different story over there (I know, I used to work for the local Syrian catering hall while in college). Let me tell ya, all real estate rules go out the door in that community. It’s all about location. Very insular community and people have posted links to NY Times article about it a bunch of times on here. A LOT of money in that community, even in bad economy. Can’t tell you how many sweet 16th I worked where the girl would get a Porsche AND a Range Rover as her bday present. Typical wedding is 1,000+ guests (Basically the whole community plus a part of Long Island and Deal, NJ).
Joe, it doesn’t take a ton of people to see their income spike during this stretch to absorb these pricey houses.
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M4L,
Again, it’s not just the pricey hoods that have seen the run-up. Take a look at prices in NJ, Long Island, Connecticut or less desireable parts of Brooklyn. Take a look at freakin’ Beacon, NY for chrits sake. Everything has nearly doubled in price.
The brownstone premium has been baked in for years (starting to sound like BHO here).
“And yes more people are moving to cities, but why then have NJ and Long Island also doubled in price”?
Many like to pay for the privilege of high taxes?
Joe, it doesn’t take a ton of people to see their income spike during this stretch to absorb these pricey houses. I don’t doubt there’ll always be a ton of prospective buyers who have the means to pay these prices. It’s really a matter of whether something more attract for their money appears and make them less willing to allocate that much $$$ to housing.
I’m holding out for lower prices in these premo hoods but I know the wait will be long.
joe, for brooklyn 8 years ago people weren’t coming over from manhattan to buy. Now that they are it’s not as much “value” as it used to be.
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Ok, but then Manhattan prices shouldn’t be doubled in the past 8 years then since demand moved from Manhattan to Brooklyn. And yes more people are moving to cities, but why then have NJ and Long Island also doubled in price?
joe, people change jobs, see an increase in their pay. I agree very few people who are in the same job for the past 8 years have seen an increase. That said I know very few people who’ve had the same job/firm for the past 8 years.
Posted by: DeLepp at March 23, 2010 12:40 PM
Agreed. I got a 50% raise when I left Big Four accounting (and a 25% raise at my new job during year one – in effect, doubled my salary). I have since changed jobs three times, each time for a position with greater responsibility and significant pay increase.
Not sure why industry wide averages is relevant…average meaning we’re taking into account everybody. Here’s a tip: there is a bell-shaped EVERYWHERE in life.
joe, for brooklyn 8 years ago people weren’t coming over from manhattan to buy. Now that they are it’s not as much “value” as it used to be. Once people realized brooklyn wasn’t so far off the “grid” it became a place of choice instead of drudgery. Though I still know many manhattanites who would rather move to des monines than join us in brooklyn.
Delepp,
I also know specific people who have moved jobs, moved up, and are making substantially more than they were 8 years ago. But there were always people moving up the ladder. The question is… has the ladder grown twice as high over the past 8 years? Doesn’t seem so…
tried posting this an hour ago, not sure why it would be censored?
can a posting be created of the lowest sales of the week? like the cheapest one bedrooms or brownstones or something, as a homage to our lovely economic recession?