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.
WTF is a “buck grand”????
I certainly didnt mean “wealth creation” as only = trading in and on financial instruments; while there is a place for that and it is important for the effective and efficient use of capital it is far from the sole or driving force in the modern (intellectual) economy.
Nor BTW did I say that today’s economic realities insure ever rising RE prices in NYC, Brooklyn or anywhere else – prices could well fall precipitously (I dont know – and NEITHER DO YOU) – but it does MEAN that it is a fairly conservative bet that NYC, Brooklyn, SF, etc (liberal urban settings) will continue to outperform the rest of the country, because there is no reason on the horizon to believe that NYC will not continue to be a draw to the highest incomes/educated in our society.
I again comment that BHO your inability to objectively look any facts that contradict your one premise (that RE will fall massively) sort of makes you a joke. You maybe correct in the end (I dont KNOW and neither do YOU) but that is really a broken clock analogy rather than any thoughtful analysis. I mean the world will come to an end one day – doesnt mean that evangelical christians are correct about the rapture.
“the people who bought in 08 took a loss on this sale, though how much of one is unknown due to the fact that we don’t know what the reno cost.”
Typically a buck grand per floor. Ouch!
“Multiple homes in fact.”
Multiple losses. Ouch! Stop D-ridin’, 11217.
Sell while the getting is still good or you’ll be changing your handle to 1121[chapter]7.
***Bid half off peak comps***
Actually though now that I think about it it sold pretty close to ask so why would they have priced at a point where they would take a loss if they got ask. Most likely the renovation cost less than we might assume. I am judging by the photos on Zillow, but maybe that was the same reno when it sold in 08?
“Thanks to FED, primary dealers and computer algorithms. Volume is paper thin. Redemptions are up too. Crash looms. Get the fuck out, DIBS! Capture those gains so you can move out of Bed Stuy.”
Why? So everyone can be as miserable as you are? Dave has a home. Multiple homes in fact. What do you have besides a terrible attitude and a bunch of run on sentences?
According to Zillow the Adelphi House was listed by a realty company called Arena. The list price was 2 million even. There almost certainly was a renovation done since the last sale. So that does support the concept that the people who bought in 08 took a loss on this sale, though how much of one is unknown due to the fact that we don’t know what the reno cost.
“Our long/short fund is up 9.2% YTD and my Global Equity Income Fund is up 11.4% YTD.”
Thanks to FED, primary dealers and computer algorithms. Volume is paper thin. Redemptions are up too. Crash looms. Get the fuck out, DIBS! Capture those gains so you can move out of Bed Stuy.
***Bid half off peak comps***
Yeah, if no reno Adelphi speaks volumes about the direction of prices in Fort Greene.
“Wealth creation is now almost entirely an INTELLECTUAL exercise”
***Bid half off peak comps***
Yes, it is. You do need an intellect. Our long/short fund is up 9.2% YTD and my Global Equity Income Fund is up 11.4% YTD.