Last Week's Biggest Sales
1. BOERUM HILL $2,390,000 117 Bergen Street GMAP This 2,881-sf, brick two-family is 20′ wide and 43′ deep, says PropertyShark. According to the public record, the building was sold by a prominent public figure. Entered into contract on 6/4/10; closed on 8/13/10; deed recorded on 8/18/10. Tied for 2nd Place: PARK SLOPE $2,200,000 64 Prospect…
1. BOERUM HILL $2,390,000
117 Bergen Street GMAP
This 2,881-sf, brick two-family is 20′ wide and 43′ deep, says PropertyShark. According to the public record, the building was sold by a prominent public figure. Entered into contract on 6/4/10; closed on 8/13/10; deed recorded on 8/18/10.
Tied for 2nd Place: PARK SLOPE $2,200,000
64 Prospect Place GMAP
This 2,910-sf Queen Anne was priced at $2,650,000 when it was House of the Day back in March ’08 (pre-widget). It was then taken off the market and returned earlier this month priced at $2,250,000, according to StreetEasy. Entered into contract on 5/24/10; closed on 8/6/10; deed recorded on 8/6/10.
Tied for 2nd Place: BOERUM HILL $2,200,000
411 Pacific Street GMAP
When this brick 2-family was an Open House Pick back in April ’09, the asking price was $2,550,000. According to StreetEasy, it was re-listed at $2,475,000 in March of this year. Entered into contract on 6/15/10; closed on 8/9/10; deed recorded on 8/17/10.
4. COBBLE HILL $2,050,000
19 Cheever Place GMAP
When this 3-family was House of the Day in December, the asking price was $2,275,000 and the Average Reader Appraisal was $1,848,029. Entered into contract on 3/1/10; closed on 7/26/10; deed recorded on 8/19/10.
5. BOERUM HILL $1,900,000
109A Bergen Street GMAP
According to StreetEasy, this is a 3,085-sf, 2-family, brick home. Entered into contract on 4/26/10; closed on 7/13/10; deed recorded on 8/20/10.
Photos from PropertyShark.
people are nuts to still be paying these kind of prices for these properties that will be unsellable in the near future. Real estate prices are poised to plummet in NYC as the financial sector shrinks like crazy and people flee for greener (more Republican friendly) pastures.
They are nice but too expensive.
ROTFLMFAO.
“Do you really think this beauty would have been capped at 2.2 right before Lehman collapsed?”
Yes.
Have you ever BEEN on Prospect Place? It’s right near AY, right near Flatbush Avenue, NOT zoned for PS. 321 and the comps for the immediate area top out at 2 million.
NEXT!
I said IMPLIED a decline, not showed a decline with the incomplete comp data given. We need more information than just a few spread out sales on Prospect Place. And January 2007 was not peak for brownstone Brookyn. Our first stock McCrash (subprime) in February of that year hadn’t even happened yet. You have to extrapolate upwards to 2.65 based on other properties in the area, not necessarily on Prospect Place, and in all of 2008 (but pre-Lehman). Give me all the data in that immediate area over that period, 2 to 3 block radius.
Do you really think this beauty would have been capped at 2.2 right before Lehman collapsed?
***Bid half off peak comps***
“And those sales you cite (please list them by address), how close did they compare WRT detail/condition?”
I’d say 60, 62 and 64 Prospect Pl. are about as comparable as comparable gets (64 is, of course, quite comparable to itself). Check’em out on streetview. Three in a row of a Queen Anne set. But if you know a house on another block you think is more comparable to 64 Prospect than 64 Prospect, go ahead, make your case.
http://maps.google.com/maps?f=q&hl=en&q=&layer=c&cbll=40.758437,-73.985164&cbp=11,42.04,,0,-6.66&ie=UTF8&om=1&panoid=s_TY766yv4kWDddHKN8OVQ&t=h&ll=40.75844,-73.985195&spn=0.042649,0.174923&z=13&utm_campaign=en&utm_medium=ha&utm_source=en-ha-na-us-bk-svn&utm_term=%7Bkeyword%7D
11217, you’re going to have to explain to him the difference between ignorant and stupid.
BHO, let’s break this down very simply for your pea sized brain.
64 Prospect Place sold in 2007 for 2 million
64 Prospect Place sold in 2010 for 2.2 million
Please show me how that represents a decline.
Your fixation on asking prices is not only ignorant, but downright stupid.
“Queen Anne was priced at $2,650,000 when it was House of the Day back in March ’08”
(2.2 – 2.65)/2.65 = -17%, after market already started declining. Widget consistently fails to predict success of asking price so yes, asks are based/revised on recently recorded comps. And comps are not just restricted to Park Place. You have to look at all the properties around there. And those sales you cite (please list them by address), how close did they compare WRT detail/condition?
“NYC is a very localized market.”
Pass that shit!
***Bid half off peak comps***