Last Week's Biggest Sales
1. BROOKLYN HEIGHTS $2,975,000 22 Sidney Place GMAP A House of the Day back in November, this 17-foot-wide home with plenty of original details hit the market at $2,750,000. According to its listing on StreetEasy, this 1-family features “a large, open kitchen with center island,” “a fireplaced reception room,” “a sweeping staircase with original woodwork,”…
1. BROOKLYN HEIGHTS $2,975,000
22 Sidney Place GMAP
A House of the Day back in November, this 17-foot-wide home with plenty of original details hit the market at $2,750,000. According to its listing on StreetEasy, this 1-family features “a large, open kitchen with center island,” “a fireplaced reception room,” “a sweeping staircase with original woodwork,” “a butler’s pantry with wet bar and a working dumbwaiter,” and its “spacious dining room is also warmed by a fireplace and overlooks the leafy garden through a large window and door.” Average Reader Appraisal was $2,457,326. Entered into contract on 1/4/10; closed on 4/29/10; deed recorded on 5/6/10.
2. DYKER HEIGHTS $1,685,000
1127 85th Street GMAP
This brick and stone 1-family home is located close to the Dyker Heights golf course. According to its listing on StreetEasy, “It has 5 bedrooms and 4 bathrooms, hardwood floors, central air conditioning, and a wood burning fireplace… This home is nicely elevated allowing stunning views of the Verrazano Bridge… and there is a heated in-ground swimming pool in the secluded backyard. The large garage and private driveway allow parking for two or more cars.” Entered into contract on 4/19/10; closed on 4/19/10; deed recorded on 5/4/10.
3. BERGEN BEACH $1,480,000
2553 East 64th Street GMAP
This 1-family 1,869-sf townhouse sold for $795,000 in 2006, according to StreetEasy. Entered into contract on 2/5/10; closed on 4/20/10; deed recorded on 5/4/10.
4. BOERUM HILL $1,466,000
226 Wyckoff Street GMAP
A House of the Day back in January, this legal 2-family is configured into a 1-family. It has lots of original details and a newly renovated kitchen. Hit the market at $1,395,000 and Average Reader Appraisal was $1,140,086. Entered into contract on 2/16/10; closed on 4/20/10; deed recorded on 5/4/10.
5. PARK SLOPE $1,400,000
398 4th Street GMAP
According to PropertyShark, this 3,620-sf, 3-family brick townhouse hasn’t changed hands since 1991. Entered into contract on 2/3/10; closed on 4/30/10; deed recorded on 5/6/10.
Photos from Property Shark.
ITA that supply shortage moved that Wyckoff house. Where else in Boerum Hill could you get a house — even a small one — for that price? That block is rapidly gentrifying, too. Many houses have turned over in the last few years, completely altering its character.
This improved environment must be good news for the seller of the Grace Court Alley carriage house. I thought it was high at $2.95mln given that it needs a complete renovation, but pent-up money from the previous two years of a stalled or nearly frozen market is pushing competing buyers to reach for nice properties. Not too far away from the Grace Court Alley property is the one at 280 Hicks that didn’t sell at auction for the minimum bid of $2 mln in Oct 2009, but went above that at last week’s auction. Whatever the doubters may say, the fact is that people are actively bidding for good properties right now. Whether that lasts or not into the future is anyone’s guess, but the fact is that it is happening right now.
We can’t predict the future, but the sale on Wyckoff sets a new high point for this block, while Sydney Place is well within market price for the location. It’s not like every trade has to make sense, they’re all one-off.
plus when one is rich enough where it’s a “do I want to” vs. “can I afford to” situation – one cant fend off wife asking “I love it so buy it”
I’m very surprised that interest rates are going lower. Who would have expected that? Not me.
Strong prices. I am guessing that they reflect the severe supply shortage. Curious to see if more sellers emerge over the summer.
It seems to me that some of you are making market assumptions largely based upon someone over-paying for the Wyckoff house.
But you seem to be ignoring these soft market indicators:
3M for prime Brooklyn Heights is soft.
1.4M for a four story gut in prime Park Slop is soft.
Almost 1.5 million for a 3 story on Wyckoff is extremely high — I find it hard to believe people were paying that much for 3 stories on that block even at the height of the market. I just don’t understand what is appealing about that location…no good elementary schools and you are still far from Smith Street. It’s just not a large enough house to justify that price, IMO, but clearly at least one buyer felt differently.
Yeah thwackamole, I tend to agree with you. IF I didn’t own already I don’t think I would be in the market. But given that I do own, I will take the comps!