Last Week's Biggest Sales
1. COBBLE HILL $2,900,000 254 Warren Street GMAP An Open House Pick back in April, the dimensions of this two-family brick building are 21 ft x 42 ft (882 sf), and it’s on 2,097-sf plot — which includes the vacant lot beside the building. According to PropertyShark, the first asking price was $3,800,000 in April…
1. COBBLE HILL $2,900,000
254 Warren Street GMAP
An Open House Pick back in April, the dimensions of this two-family brick building are 21 ft x 42 ft (882 sf), and it’s on 2,097-sf plot — which includes the vacant lot beside the building. According to PropertyShark, the first asking price was $3,800,000 in April ’10, and it dropped to $3,500,000 a month later. Entered into contract on 5/24/10; closed on 7/21/10; deed recorded on 8/4/10.
2. GRAVESEND $2,550,000
1844 East 8th Street GMAP
This 1,660-sf, 1-2 family home is on a 3,495-sf lot, according to PropertyShark. Entered into contract on 5/13/10; closed on 7/26/10; deed recorded on 8/2/10.
3. MIDWOOD $2,200,000
975 East 8th Street GMAP
According to PropertyShark, this 1-family, 2,072-sf home has a garage and is located on a 4,000-sf lot. For whatever it’s worth, it’s in walking distance from Di Fara. Entered into contract on 3/15/10; closed on 7/27/10; deed recorded on 8/6/10.
4. COBBLE HILL $2,000,000
468 Henry Street GMAP
This 4-family brownstone was House of the Day in May ’08 (before we started using the reader appraisal widget), when the asking price was $2,600,000. Entered into contract on 5/28/10; closed on 7/22/10; deed recorded on 8/6/10.
5. BROOKLYN HEIGHTS $1,650,000
23 Pierrepont Street GMAP
Built in 1856, this 4-family, 5,231-sf building has been in the same hands since 1967, according to PropertyShark. Unfortunately, the last sale price isn’t listed in the public record. Entered into contract on 6/10/10; closed on 7/22/10; deed recorded on 8/5/10.
Photos from PropertyShark.
I will let the clueless among you bash the price of the Gravesend house. And tell me that a house like this sells for 15K in Binghampton, NY.
Let the comments Roll. Extra points for a conspiracy theory.
So true.
@BoerumResident: Forget about the feral cat. Much easier to remove than the toxoplasmosis-addled feral cat ladies who dump food in front of that house all the time. That whole stretch of sidewalk is covered by a swarm of flies attracted by cat food!
forget about pierrepont for a minute. is that the gravesend house in the right pic? Did Archie Bunker win lotto?
The Economakis’ are living in their house. I’ve met them — they are really nice people.
Squadron’s bill is EXACTLY WRONG here. No owner wants to move his family to a studio — that’s why the owner is going to take over multiple apartments.
If we didn’t have rent control, this building would have gone for double what it did, and the owner wouldn’t bother wasting $500k to kick everybody out and combine the apartments — he’d buy another building instead.
But because rent control makes this building half as valuable as it should be, there’s a huge incentive to buy the building and convert it, which is (overall) wasteful of society’s resources. The correct solution is to raise rents to market rate.
There are 8 units in the house. I wonder how many are occupied. It would be interesting to follow this in detail.
How much the new owner is paying tenants to leave.
Who’s fighting to stay. Who took the dough.
I’d love to see floor plans of the house.
Thanks Boerumresident.
Biff, they can only pass the apt on to someone who is also using the apartment as their full time residence (I think it has to have been for one or two years before the statutory tenant dies.) I believe the rent stays the same, but I am not sure if the apartment mvoes from rent control to rent stabilization.
I read some where that the Economakis’s fianlly got the last tenant out last year and some work had started. I think they settled with thte tenants in the end (rather than rely on DHCR order evicitng the tenatns), so the owner-occuopancy restrictions don’t apply.
Anyway, Daniel Squadron is trying to pass a bill that would outlaw owner occupancy of whole buildings that have multiple apartments — the owner could only seek to occupy a single apartment in the building.
I know of numerous cases in Brooklyn in which owners have used the excuse that they needed the apartment for a family member to kick out rent stabilized/controlled tenants. They’d move a compliant relative in for a few years, and then, when everything had blown over, move him/her out, renovate, and voila! a fancy-schmansy market rate apartment! In terms of converting an apartment building to a one family, whatever happened with the Economakis building in the East Village? Have they actually converted the whole thing to their own private mansion?