Last Week's Biggest Sales
1. PARK SLOPE $2,450,000 25 8th Avenue, Units 4 and 5 GMAP When this 4,000-sf, 3-bedroom, 3-bathroom loft with a 45-foot-long ballroom and terrace overlooking Grand Army Plaza was Condo of the Day back in February ’09, we thought it might be the coolest apartment in all of Brooklyn. According to StreetEasy, it was listed…
1. PARK SLOPE $2,450,000
25 8th Avenue, Units 4 and 5 GMAP
When this 4,000-sf, 3-bedroom, 3-bathroom loft with a 45-foot-long ballroom and terrace overlooking Grand Army Plaza was Condo of the Day back in February ’09, we thought it might be the coolest apartment in all of Brooklyn. According to StreetEasy, it was listed at $3,850,000 then, and the asking price dropped to $2,900,000 in July ’09. Check out more photos of the character-rich interior at 25 8th Ave. Entered into contract on 5/17/10; closed on 5/1/10; deed recorded on 8/25/10.
2. CARROLL GARDENS $2,189,237.50
192 President Street, Unit 1 GMAP
When this building was House of the Day in June ’08, we thought it could turn into something special if it fell into the right hands. According to StreetEasy, it was purchased in Jaunary ’09 for $1,928,000. It seems that the buyer was boutique development company light/house, which divided the building into two condos — “the classic” and “the modern” — and has photos of both on their website, 192 President Street. This unit appears to be the classic one. Entered into contract on 6/25/10; closed on 9/13/10; deed recorded on 9/27/10.
3. FORT GREENE $1,985,000
341 Adelphi Street GMAP
This 2-family house was one of our Biggest Sales in February ’08, when it sold for 1,705,000. Entered into contract on 7/16/10; closed on 9/1/10; deed recorded on 9/29/10.
4. PARK SLOPE $1,725,000
508 6th Avenue GMAP
According to its listing on StreetEasy, this 3-story building has 3 renovated 2-bedroom apartments, which are currently leasing for $2,300 each, and it also has 5 remote-controlled garages, presently being rented at $350/month per garage. Entered into contract on 6/24/10; closed on 9/15/10; deed recorded on 9/30/10.
5. PARK SLOPE $1,700,000
628 10th Street, Unit 4C GMAP
According to its listing on StreetEasy, this is a 1638-sf penthouse duplex has 2 large, private outdoor spaces and is located in the Iroquois. Entered into contract on 2/11/10; closed on 9/21/10; deed recorded on 9/29/10.
Photos from 25 8th Ave and PropertyShark.
“1) Are you guys aware of the monthly maintenance and ongoing assessment on the Montauk Club unit? Extremely high. $2.45 M was not a bargain.”
Yes. Taxes and maintenance are $2600 a month.
For 4000 square feet.
Or about half what the monthlies would be on a comparable apartment in Brooklyn heights and about 1/3 of what they would be on an apartment like this in Manhattan.
CSPS, are you aware of the maintenance on premium massive units in these prime BK hoods? this is a massive 4000 sq ft place. killer ceiling height. kick ass details. Super Unique ppty in a fabu bldg. Killer location. when nice 1600-1800 sq ft duplexes in brownstones sell for 1.8M with 1200 to 1400 maintenance. yes, this is cheap relatively.
1) Are you guys aware of the monthly maintenance and ongoing assessment on the Montauk Club unit? Extremely high. $2.45 M was not a bargain.
5) 4C at the Iroquois has unbelievable outdoor space. 2 levels of it. I had bid on that unit. You can’t quantify it at over 1000 per sq ft.
BHO is grasping for straws. That is obvious.
Last week’s 5 biggest sales alone were 10 million dollars worth of property exchanging hands.
“$1.7 mm for a condo on 10th St? That’s more or less the going price for a whole brownstone with a backyard on that block. To each his own I suppose.”
with the exception of the row of 7 small brownstones adjacent to the Iroquois it is a block of brick buildings mostly built as flats with finishes typical of apartments of the time. there are some serious settling problems on that block, and some drainage problems. it remains to be seen whether the iroquois settles that way, but for now at least it’s level 😉
fsrq writes: “Wealth creation is now almost entirely an INTELLECTUAL exercise and therefore only those that are highly educated will be able to access high income and wealth – this trend will only continue and therefore due to the fact that a huge segment of our population does not seem to place education as a major priority.”
Wrong. Americans as a whole are much more educated today than 30-40 years ago. Over a third have college degrees. So this cannot explain dramatic rift that has opened up between the top 1% and the rest of us, and even the top .1% from the top 1%.
Are CEOs really worth 500 times the salary of the lowest paid worker in his or her corporation, when 40 years ago they were only worth 20 times the lower paid worker? Have they really become 25 times more productive in recent decades? Everyone else is sitting on their hands?
No, something else is going on.
“Typically a buck grand per floor. Ouch!”
@ $100k/floor, which is I think what you meant, you are assuming a gut. No jobs filed on DOB and no complaints filed, either — I doubt there was an unpermitted gut going on there. And wasder questions whether the reno, if there was one, happened before or after 2008 sale. That 2008 price does not look like the price of a house needing a gut reno. Were comps in that area over $2m at that time?So you are going on a lot of unsupported and apparently faulty assumptions, as usual.
Maybe the next Brownstoner party should be at the Montauk Club. Hee hee.
$1.7 mm for a condo on 10th St? That’s more or less the going price for a whole brownstone with a backyard on that block. To each his own I suppose.