Last Week's Biggest Sales
1. GRAVESEND $10,250,000.00 451 Avenue S GMAP The sale of this one-family home came in as the priciest BK sale this year. As we said last week: “Simply on a price-per-square-foot basis this has got to be one of the biggest sales ever in Brooklyn history, though for total dollars it trails other Gravesend sales…
1. GRAVESEND $10,250,000.00
451 Avenue S GMAP
The sale of this one-family home came in as the priciest BK sale this year. As we said last week: “Simply on a price-per-square-foot basis this has got to be one of the biggest sales ever in Brooklyn history, though for total dollars it trails other Gravesend sales like 450 Avenue S, which sold for $11,000,000 in 2003, and 2111 East 2nd Street, which sold for $10,260,000 in 2009.” This home comes in at 2,914 square feet. Entered into contract on 5/5/11; closed on 5/5/11; deed recorded on 5/19/2011.
2. PARK SLOPE $2,850,000
35 Prospect Park West, #8-9B GMAP
Curbed beat us to the punch on this one, writing yesterday that “this duplex at 35 Prospect Park West finally closed for $2,850,000 last week after asking a high of $4,950,000 all the way back in 2008.” This was our Co-Op of the Day when it was asking $3,000,000. We thought it was a beautiful apartment and wondered how low the price could go. Now we have our answer. Entered into contract on 4/28/11; closed on 4/28/2011; deed recorded on 5/18/11.
3. WILLIAMSBURG $2,392,887.50
34 North 7th Street, PH1B GMAP
There isn’t a lot on this penthouse unit at The Edge. The sale includes a storage space. Entered into contract on 3/29/11; closed on 4/28/2011; deed recorded on 5/20/11.
4. MIDWOOD $2,200,000.00
1677 Ocean Parkway GMAP
1677 Ocean Parkway is a two family with some vacant land. According to StreetEasy, the 5,175-square-foot home sits on a 5,600-square-foot lot. It was asking $2,200,000. Entered into contract on 2/16/2011; closed on 5/9/2011; deed recorded on 5/18/11.
5. COBBLE HILL $2,175,000
14 Tompkins Place GMAP
The listing for 14 Tompkins Place says this: “Currently used as a two-family, this three-family townhouse needs a complete make-over, but your investment will be well spent on lovely, tree-lined Tompkins Place.” From the few pictures it still looks like this house has some surviving details. The ask was $2,350,000. Entered into contract on 1/10/2011; closed on 5/12/2011; deed recorded on 5/20/11.
Just missed the cut: 307 Adeplphi, a renovated townhouse asking $2,690,000, closed for $2,000,000.
I am married to Sephardim, so I can corroborate the NYTimes .
Orthodox need to walk to shul, so proximity isn’t better, it’s mandatory.
No, they aren’t all honest, but neither is any other group.
And they speak Ladino, a mixture of Spanish mostly. Sephardim lived by the hospitality of the Moors in Spain, until forced to flee around the Med after the Inquisition.
Most “Syrians” are actually called “Turks”, in that the Ottoman Empire was all over before WWI, after which most Turks came to the US (or at least my wife’s family)
its not like i’m pleased with the current state of reality, but speaking Arabic and having good connections in Syria is a priority to say the least. When they’ve outlived their usefulness we shall see (that could be a while). I wouldn’t be getting into a throw-down with someone down there over road rage or a fender bender….. just sayin’.
On the brighter side of things(!!), i think the other properties fared quite well. I know the PS co-op hit the chopping block, but still not all that bad. I think there were some others in that building at the same time?
invisible: thank you for injecting a bit of adult reality into the conversation.
Your point about their translation abilities shielding them from IRS scrutiny is fascinating.
See kiddies? That is how the real world works.
Believe it or not.
The NYT article is as usual a load of fluff. Read the papers about the Rabbis and money laundering through their charities. They all pleaded guilty, keep track of the (almost nonexistent) sentences. While i’m sure there are more than a few solid legit businesses, I don’t think most of these people are too partial to how its made. Money is power, and boy do they have both. Luckily for them, many speak Arabic (or Judeo-Arabic) which right now is more valuable to the intelligence community and national security than all the diamonds in South Africa. This basically means “free pass” as far as making deals with the govt on this stuff (in fact it probably only got as public as it did to turn the screws on them deal-wise).
They’re estimating hundreds of millions through the charities (i bet that’s low), i hope we are getting our money worth in return. Those that think this stuff is all a load of crap are part of the problem, like when clinton tried to “clean up” the intelligence community. The FBI obviously knows what is going on (that case was truly mind blowing), just let them do their thing.
Brownstoner should know about this:
http://thebrokerbuddy.com/index2.php/last-weeks-biggest-sales-13
By bedstuy11216 on May 24, 2011 1:52 PM
A lot of these Gravesend sales were purchased by an LLC or a trust, what is the benefit of doing that?
…
Fairly common for buyers to put the property in an LLC for privacy reasons. Real estate tran
That is a beautiful house in Gravesend.
While I would be willing to believe that the faithful would pay a premium for a nice property near a house of worship, I think ten million dollars strains credulity. Those of you familiar with the community feel it is plausible so enough said.
http://www.nytimes.com/2009/07/24/nyregion/24jersey.html
mcKenzie trotting out the bernie madoff comparison of the Brooklyn property market yet once again.