Last Week's Biggest Sales
1. PARK SLOPE $2,550,000 418 4th Street GMAP When this 2,748-sf, 2-family brownstone was House of the Day last May, the seller was asking for $2,950,000—after paying $1,865,000 for the place less than a year prior. The renovation didn’t charm us, but according to its listing on StreetEasy, the house’s top-to-bottom update “gracefully combines 19th…
1. PARK SLOPE $2,550,000
418 4th Street GMAP
When this 2,748-sf, 2-family brownstone was House of the Day last May, the seller was asking for $2,950,000—after paying $1,865,000 for the place less than a year prior. The renovation didn’t charm us, but according to its listing on StreetEasy, the house’s top-to-bottom update “gracefully combines 19th century styles with contemporary designs. The garden rental duplex overlooks a magnolia and weeping cherry tree. The upper triplex has 5 bedrooms and 3.5 renovated bathrooms with fine fixtures, custom cabinetry and glass tile.” The Average Reader Appraisal for this place was $2,146,765. Entered into contract on 2/26/10; closed on 3/31/10; deed recorded on 4/8/10.
2. CARROLL GARDENS $2,200,000
28 Second Place GMAP
This brownstone was another House of the Day in July ’08. We noted that it’s 34 feet (and four windows) wide, double the width of many buildings—giving it 5,000 square feet of space, with an additional 3,300 square feet of air rights. We also noted that the asking price was a whopping $3,900,000. (No widget for this oldie HOTD.) Entered into contract on 2/22/10; closed on 3/17/10; deed recorded on 4/9/10.
3. PARK SLOPE $1,800,000
318 First Street GMAP
This 2-family, 2,670-sf Brownstone was yet another House of the Day way back in November ’08, when it was listed at $2,099,000. Its most recent listing on StreetEasy had it priced at $1,875,000. (This one doesn’t have a widget, either.) Entered into contract on 12/8/09; closed on 3/17/10; deed recorded on 4/8/10.
4. BROOKLYN HEIGHTS $1,582,360.50
360 Furman Street, #734 GMAP
This 2,162-sf condo with 2 bedrooms and 2 bathrooms is located in One Brooklyn Bridge Park. According to its listing on StreetEasy, it was priced at $1,875,000. Entered into contract on 1/18/10; closed on 3/25/10; deed recorded on 4/1/10.
5. CARROLL GARDENS $1,360,000
130 Summit Street GMAP
When this 3-family home with lots of charm was House of the Day in October ’09, it was listed at $1,350,000. Seemed like a great deal before we read the fine print: The 3rd floor apartment had a rent-controlled tenant paying $325 a month. Can’t say how the tenant situation panned out, but the building sold for $10K over the asking price—and nearly $260K over the Average Reader Appraisal of $1,101,167. Entered into contract on 1/11/09; closed on 3/29/10; deed recorded on 4/6/10.
Photos from Property Shark.
Only 1 for 5 over ask? Someone’s still waiting for a bottom.
***Bid half off peak comps***
I’m not surprised by the Summit street price. If was duplex plus 1 rental that would be about the price. Just ignore the 2nd RC apt from equation. (and has strong potential windfall in future when RC tenant leaves).
second place is a good example of why ask means nada.
it is huge and a condo converstion oppty. indubitally, the lack of construction financing negatively impacted the sale price.
1st street is a relatively strong price for a house that suffered death by a thousand cuts.
can’t wait to see the price on similar 344 1st street, which went almost immediately into contract a month ago from an ask of 2.15. same size i think.
By mopar on April 13, 2010 12:41 PM
Interesting story on Second Place. Sold two years later for half off ask. Maybe would have got the deal done faster if the ask was more reasonable in the first place.
Think Irongate had the 2ne Place listing originally, and they took a 20%+ cut when they switched brokers. THEN it got uglier:
11/08/2008 Listed by Brooklyn Bridge at $3,100,000.
11/25/2008 Price decreased by 3% to $2,995,000.
01/24/2009 Price decreased by 5% to $2,850,000.
04/23/2009 Price decreased by 7% to $2,650,000.
06/04/2009 Price decreased by 6% to $2,500,000.
02/25/2010 Listing entered contract @ $2,200,000.
At least they got a deal done (unlike, say, the atrocity at 45 3rd Street).
“The predictive value of the widget has been pretty poor of late.”
I think it’s because we’re living in a topsy turvy world where up is down and vice versa! Oh man, oh Man! Jesus give us strength!
I have not been participating in the widget pricing for a long time already. could my absence be causing widget to be less accurate?
“The predictive value of the widget has been pretty poor of late.”
This is because people on both sides of the aisle (bull v bear) use the widget as a place to make political statements rather than guessing what they think the house will sell for.
Interesting story on Second Place. Sold two years later for half off ask. Maybe would have got the deal done faster if the ask was more reasonable in the first place.
tybur, you’re correct. brain fart on me