Last Week's Biggest Sales
1. PARK SLOPE $3,950,000 276 Berkeley Place GMAP This 9,000-sf, 11-bedroom Romanesque Revival mansion was House of the Day in October ’09 when its price dropped from $4,250,000 to $4,200,000. Its listing describes it as “A grand and elegant home endowed with the most beautiful custom millwork all in fruit woods with matching coffered ceilings,…
1. PARK SLOPE $3,950,000
276 Berkeley Place GMAP
This 9,000-sf, 11-bedroom Romanesque Revival mansion was House of the Day in October ’09 when its price dropped from $4,250,000 to $4,200,000. Its listing describes it as “A grand and elegant home endowed with the most beautiful custom millwork all in fruit woods with matching coffered ceilings, built-ins, weighted moldings, paneled and pocket doors, leaded stained glass, extraordinary mantels (3 are gas burning), quarter-sawn oak floors and the most spectacular staircase, all in flawless condition.” Average Reader Appraisal was $3,757,916. Entered into contract on 4/13/10; closed on 6/14/10; deed recorded on 6/22/10.
2. GRAVESEND $2,750,000
1864 East 9th Street GMAP
This 1,960-sf house was built on a 40-ft x 100-ft lot in 1920, according to PropertyShark. Entered into contract on 4/22/10; closed on 6/15/10; deed recorded on 6/23/10.
3. CARROLL GARDENS $1,850,000
374 Bond Street GMAP
According to its listing on StreetEasy, this 4,250-sf building, which hit the market in late May, includes “Two residential units plus commercial space and THREE car garage.” Entered into contract on 5/7/10; closed on 6/10/10; deed recorded on 6/16/10.
4. MANHATTAN BEACH $1,537,500
159 Exeter Street GMAP
This 1,922-sf house on a 5,600-sf lot last sold for $1,400,000 in 2005, according to PropertyShark. Entered into contract on 3/24/10; closed on 5/20/10; deed recorded on 6/25/10.
5. BROOKLYN HEIGHTS $1,354,272.50
360 Furman Street, unit 440 GMAP
This 3-bedroom, 2-bathroom, 1,709-sf condo at One Brooklyn Bridge Park was listed at $1,825,000, according to StreetEasy. Entered into contract on 4/19/10; closed on 6/15/10; deed recorded on 6/23/10.
Photos from PropertyShark.
No one mentioned that the last item has 50 cents in the sale price… I think that’s funny.
OK, nonsense. 3.7% with compounding is more precise.
11217, I think this is an amazing house in a great location and should have attracted a big premium from over the top wealthy buyers who want what they want and don’t care what they pay. Of course that comes down to taste. Out of my price range sadly.
Gravesend is probably a tear-down. Worth it to a Syrian Jewish family that wants to stay in the neighborhood and build to their own specifications.
The Berkeley Place house, while large and architecturally significant, was a hard sell: it’s actually too large, oddly configured with lots of small rooms, no back yard, in need of mucho modern upgrades. Given all that — and the fact that, as 11217 pointed out, we’ve just gone through a major housing bust — I think the sellers did quite well!
Yeah – something is wrong with that Gravesend sale.
DCB:
One more question for you…if the house is so special, why did 61 people appraise the house for an average price of 3.7 million when it was house of the day?
And 4 million dollars is 4 million dollars.
I see your point, but you haven’t seen this house apparently. While impressive, it’s right up against a highrise apartment building on Plaza Street West and I was told it would need reconfiguring and some updating.
When a house is this massive (just like in very small apartments) the psf price doesn’t mean as much. Most studios in the area sell for a lot higher psf than 1 bedrooms and 2 bedrooms for instance. I’d imagine the exact opposite would be true for a house this large since who really needs that much space?
Anyway, we disagree. That’s cool. I still think given the economy we are in, 4 million for this house is a lot of money.
DeadCatBounce – lets agree we were both not precise as we didn’t quote period we were considering.
22 Jun 2010 – 2 Dec 2003 = 2394 days = 6.56years
2,640,000 * (1 + 6.3%) ^ 6.56 = 2,640,000 * 1.496 = 3,950,000
Same calculation with the 2004 price gives indeed 3.7%
Newsflash – Brooklyn isn’t Manhattan
Thanks for pointing that out. It doesn’t matter if we are talking rare coins, fine art or the stock market. Human psychology works the same way. $438 a sq ft for the best is a low price.
“And I don’t think canal smells so much either.”
Pete, all joking (with you) aside, it really still does. I looked at a great duplex with a private garden the size of a Brownstone garden in the Mill on President. Then I walked over the Carroll Street bridge and back on the Union Street bridge. And the canal STINKS!!!!!