Last Week's Biggest Sales
1. BROOKLYN HEIGHTS $2,975,000 36 Joralemon Street GMAP Originally listed at $3,800,000, this 3,560-sf, brick one-family had its price reduced to $3,450,000 when it was our House of the Day in January. (The previous owners bought the place for $2,325,000 in 2005.) Its listing on on StreetEasy says, “This turn-key home is graced with a…
1. BROOKLYN HEIGHTS $2,975,000
36 Joralemon Street GMAP
Originally listed at $3,800,000, this 3,560-sf, brick one-family had its price reduced to $3,450,000 when it was our House of the Day in January. (The previous owners bought the place for $2,325,000 in 2005.) Its listing on on StreetEasy says, “This turn-key home is graced with a sun-filled open living room with wood burning fireplace, separate dining area and a fabulous chef’s kitchen with custom oak cabinets, CaesarStone counter tops and Viking appliances… For outside entertaining there is a spectacular roof top terrace with gas grill, built-in teak benches, an irrigation/lighting system and breathtaking harbor and Manhattan views.” Average Reader Appraisal was $2,797,171. Entered into contract on 3/8/10; closed on 4/15/10; deed recorded on 4/27/10.
2. PARK SLOPE $2,710,000
615 Second Street GMAP
This 20-foot wide, one-family limestone home hit the market in July ’08 priced at $3,495,000. In November ’09, the price was knocked down to $2,950,000. According to its listing on StreetEasy, “The huge front parlor is graced with a lovely center staircase, parquet floors and a sense of openness and light that is rarely available in the townhouses of the last century. Pocket French doors lead to the large formal dining room and half-bath. The kitchen, large and renovated, is in the extension.” Entered into contract on 1/29/10; closed on 4/20/10; deed recorded on 4/27/10.
3. BROOKLYN HEIGHTS $2,250,00
40 Joralemon Street GMAP
This one-family, 2,380-sf home was originally listed at $2,790,000 last spring, according to StreetEasy, but was marked down to $2,300,000 when it was our House of the Day back in September ’09. Average Reader Appraisal was $1,892,273. Entered into contract on 1/25/10; closed on 4/20/10; deed recorded on 4/26/10.
4. PROSPECT HEIGHTS $1,900,000
1 Grand Army Plaza, #14B GMAP
This condo is located in the Richard Meier on Prospect Park, but it doesn’t much information listed on StreetEasy. Entered into contract on 10/7/09; closed on 3/31/10; deed recorded on 4/29/10.
5. PROSPECT HEIGHTS $1,800,000
282 Park Place GMAP
A House of the Day back in January, this brownstone has lots of details and is configured into an upper triplex with garden rental. Hit the market at $1,799,000 and Average Reader Appraisal was $1,627,625. Entered into contract on 1/15/10; closed on 4/16/10; deed recorded on 4/28/10.
Photos from Property Shark and StreetEasy.
wasder, throwing in towel doesnt mean I’ll pay current prices but rather it’s hitting lotto or renting.
“Don’t forget — there was a mini-boom in equities and tech stocks from 2002-2005.”
A “mini boom???” Market rose 88% from Oct 02 to Oct 07
And yes, it continued until October, 2007, not 2005. Also, more than 50% of the selloff has been recovered.
i love it when people pull datapoints out of their asses
“really need to hit lotto drawing tonight cause the waiting game is looking less and less effective by the day”
m4l–you can’t throw in the towel that easily…
Sales price at 40 and 36 Joralemon make the sales price at 31 Joralemon look pretty good…even if it does only have 3 walls…
“as the stock market continues its correction”
You talking about the one day correction today??? LOL
Seems you’ve been asleep over the past 12 months where the S&P has gone from 666 to 1173.
There’s a cash buyer posting above who keeps getting outbid.
Mortgage rates are at a multi-generational low; there are still banks doing all sorts of silly things, and the prices are still a lot lower than 2007.
Higher tax and interest rates haven’t kicked in, and congress is preparing to amputate NY’s biggest earning industry.
Don’t forget — there was a mini-boom in equities and tech stocks from 2002-2005.
Given a choice between buying RE as an investment vs buying a 30 year TIPS at CPI + 1.85%, I’d take the latter.
As noted last week, once again the brownstone belt can say proudly:
“Suckit, Gravesend!”
“It’s just another datapount that indicates brownstone prices bottomed at the end of 2009.”
The housing boom in NYC was generational and driven largely on easy credit. As housing is a lagging indicator compared to the financial markets, the actual real estate bottom won’t hit ’til 2012-14 earliest as the stock market continues its correction and the (lack of) credit crisis heats back up. Brooklyn is not California, but it will be ugly as credit once again disappears. There will be bargains galore for cash buyers.
really need to hit lotto drawing tonight cause the waiting game is looking less and less effective by the day