Last Week's Biggest Sales
A couple strong showings out of Williamsburg this past week. 1. DUMBO $2,575,000 31 Washington Street GMAP (left) Sale was of unit 11/12 at this Dumbo condo. Deed recored 4/24. 2. PARK SLOPE $2,140,000 423 1st Street GMAP (right) 3,200-sf house between 6th and 7th avenues. 3-family built cica 1901, according to Property Shark. Deed…
A couple strong showings out of Williamsburg this past week.
1. DUMBO $2,575,000
31 Washington Street GMAP (left)
Sale was of unit 11/12 at this Dumbo condo. Deed recored 4/24.
2. PARK SLOPE $2,140,000
423 1st Street GMAP (right)
3,200-sf house between 6th and 7th avenues. 3-family built cica 1901, according to Property Shark. Deed recorded 4/25.
3. WILLIAMSBURG $2,000,000
85 North 3rd Street/The Mill Building GMAP
As previously reported, a buyer purchased this pad on the 6th floor of the Mill Building. Deed recorded 4/23.
4. WILLIAMSBURG $1,900,000
440 Kent Avenue GMAP
Purchase was of a penthouse at the Schaefer Landing condo on South 9th Street and Kent Avenue. Deed recorded 4/25.
Tied for fifth place:
PARK SLOPE $1,725,000
285 1st Street GMAP
3-family house in the Slope. (We’re a little confused by this one: ACRIS has it as a house, while Property Shark says it’s a co-op. Can someone clarify?) Deed recorded 4/25.
CLINTON HILL $1,725,000
472 Washington Avenue GMAP
Former House of the Day was asking $1,875,000. Deed recorded 4/24.
Photo of 31 Washington from DumboNYC ; photo of 423 1st Street from Property Shark.
If there has been 300% growth, why is a 50% drop “absurd”?
It happened before after a much smaller (and one might say “rational”) growth cycle.
Tulips.
Acres
and acres
of
t u l i p s .
9:40 – well the NYT has won lots of Pulitzers so I don’t understand your sarcastic tone.
I do think bitterness fuels a lot of the more outrageous responses on this list. A more measured approach would be to admit that prices are highly unlikely, if not impossible, to continue skyrocketing. Will they crash? No one knows, so no one should insist they do. But to make fun of people to dare to say that prices may stop rising, and yes, may dip a bit, is childish.
I believe the people on this thread and others most definitely say that while prices have skyrocketed that they aren’t bound to continue to do so.
That’s why they are pointing out that most smart people don’t view their homes as investments. A lot of people got lucky and are now sitting on a pile of cash. Who keeps saying prices keep going up like crazy?? I hear no one saying that.
I hear a lot of people saying that everything is overpriced, that there is little inventory and that prices seem flat after years of growth adding up to over 300%. I see a lot of people claiming that prices will drop 50% (absurd). But the only people who say prices keep going through the roof are those accusing other people of doing so.
Are you just projecting your feelings of bitterness that you didn’t buy? I really don’t get it.
Not ONE PERSON on this blog would claim that price appreciation will continue at the same pace it was the past decade. NO ONE.
So why do you bring it up all the time? A think any person who took psych 101 could tell you that.
oh riiiiight….
NEW YORK MAG!!!
how could i forget! the pulitzer prize winning economics magazine, nymag!!!!
i feel so stupid now.
Excuse me 9:24, this is not the only article recently on this topic.
Here’s another:
http://nymag.com/realestate/features/45567/
Of course, no one knows. I’m not saying these articles are proof of anything, only that there are credible opinions out there either predicting a downturn (NYT) or showing evidence that one has already started (NY magazine). But there are those who act as if any downward pressure on prices is impossible – now what makes you think THAT is gospel?
yeah, cause the new york times has a history of being really great with predicting future real estate growth…or not.
please, 9:22.
nobody here is stupid enough to read ONE article and believe it as the gospel.
Well, for all those thinking NYC is immune from national economic woes, see today’s paper:
http://www.nytimes.com/2008/04/28/nyregion/28york.html?ref=nyregion
The arrogance on this list amazes me, among people who think the market can only continue skyrocketing. Maybe the trends towards urbanism, low inventory, growing population etc will keep the market from tanking, but to assume that everything can only be rosy seems like a case of denial. Owners will be lucky to maintain current prices over the next few years, or even to see only a mild slip of 5-10% (or 15-20 for that matter, given the run-up)…
that’s impossible, 7:20.
but that woman has seen every townhouse listing in park slope and says that none are selling…
you must be mistaken.