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.
Slopefarm,
You are absolutely correct. In fact, the only house on Prospect Place to sell for over 2 million was 62 which sold in July 2010 for a similar price.
If you look at sales on Prospect Place dating to 2007, 2008, 2009, there are none over 2 million. All around between 1.7 – 1.9 million.
Per usual, BHO has no clue and is talking out his ass about things he doesn’t actually know about. He doesn’t seem to understand (STILL!) that NYC is a very localized market.
Actually, it’s fun to go back to the Prospect Place HOTD thread. Someone noted that this house sold for $2m in 2007. So maybe there’s your peak comp. Oh, and the what was busy back in the “guest” comment days singing Johnny Mathis “It’s Over.” Yeah, well, he was right that $2.6m wasn’t going to get the job done, but not because the market was tanking. Even at peak it was a crazy ask. $2.2m don’t look like a bear price in that context.
64 prospect is 20% decline from peak, BHO? I remember when its sister at 60 Prospect sold for something like $1.7m or $1.9m back around 2005. This is way north Slope, west of 6th Ave, not in Distr. 15, a mile from the park. I’m not sure there are nearby comps for $2.2m, let alone 20% higher.
“The facts seem to be at odds with the article in the NY Times?????”
Yeah, the transparent cases (middle 3) all imply a decline from peak of about 20% like the NYC market at large. Homes not only fail to return money on a fundamental basis, they can also LOSE money.
***Bid half off peak comps***
The Cheever place house is the perfect example of why that price widget was useless.
thedudeabides, speaking of the widget, this blog sure has gotten more boring without the widget! I must have missed the announcement when it was removed, but looking around at all the advertising and the “marketplace” I don’t have to ask why it happened.
With the slow market these days, a lot of those “pessimistic” widget predictions might come true…at least when those places finally sell.
“The seller is the Secretary for Housing and Urban Development and his wife.”
Thanks ProfRobert.
The only famous person I could think of with that last name was Billy Donovan, the Florida basketball coach!
That Prospect Place house is SUCH a beauty!!
The seller is the Secretary for Housing and Urban Development and his wife. Looks like they did a good job of developing their own housing.