Last Week's Biggest Sales
Sweet premium on the Prospect Heights house. Aside from that, however, it was a pretty sluggish week, with no sales over $2 mil. 1. PROSPECT HEIGHTS $1,820,000 401 Park Place GMAP (left) Asking $1,695,000 when we had it as an open house pick in early March. 2,495-sf, 1-fam house. Deed recorded 6/19. 2. BOERUM HILL…
Sweet premium on the Prospect Heights house. Aside from that, however, it was a pretty sluggish week, with no sales over $2 mil.
1. PROSPECT HEIGHTS $1,820,000
401 Park Place GMAP (left)
Asking $1,695,000 when we had it as an open house pick in early March. 2,495-sf, 1-fam house. Deed recorded 6/19.
2. BOERUM HILL $1,725,000
233 Dean Street GMAP (right)
House originally listed in January for $1,750,000, according to Street Easy, and went into contract in mid-May. 3,780-sf, 4-fam. Deed recorded 6/18.
3. PARK SLOPE $1,485,000
172 Sterling Place, Unit 7 GMAP
3-bed, 3-bath last sold for $1,485,000 almost exactly a year ago, according to Street Easy. Deed recorded 6/17.
4. PARK SLOPE $1,400,000
70 8th Avenue, Unit 1 GMAP
3-bed, 2.5 bath originally listed for $1,595,000 last September, according to Street Easy. Deed recorded 6/20.
5. BOROUGH PARK $1,325,000
1552 55th Street GMAP
2,640-sf, 2-fam house. Deed recorded 6/20.
Photos from Property Shark.
3:38 — if the layoffs get bad and the rental markets start to decline, it might be worth your LL’s while to sue you to enforce the lease. So you have more than the security deposit at risk.
But your basic point is right: you’re still much more free than the mortgage slave. Moreover, in this market, if you invest your savings reasonably, more likely than not, renting will put you financially ahead of buying for many years. Mortgages may be stable, but taxes and maintenance are not, and losing your equity can be really painful.
I bet 5 bucks that biff can’t keep his sorry bitter loser self out of this thread for more than 15 minutes.
3:35, unlike you, I don’t care to hijack this blog with trolling comments. Just wanted to stop by and point out yet another false guest assumption.
3:36, I guess you failed to notice I chimed in only after being mentioned 3 times. Who killed the thread again?
Now you trolls can go back to ignoring me and talk about these sales. Buh Bye.
Umm, a 300% drop means negative prices. Much of PS came close to zero for a while, but negative?
3:27 — those are the classical arguments in favor of owning. In practice relatively few people last 10 years in a home. Many young buyers in New York done even last 5 years. At 5% appreciation, my rent will be $4978 in 5 years, still below the $5,000 after-tax cost of owning. I will have saved a bundle and will have even more money for down payment if I decide to buy at that point.
The classical rejoinder to that is that I will miss out on price appreciation. I might, and I’m happy to take that risk. I will be somewhat surprised if prices are at or above current levels in five years.
And the freedom of renting goes both ways. I can walk away from my apartment any time and the most I stand to lose is my security deposit. It is very liberating to know that I can downsize (or move) my life any time I want.
Douche Champion = thread officially dead.
“But it is fun watching the guests fight with each other”
I wonder if it’s as fun as us watching you argue with yourself.
“i hope you’re ok with saying the same thing 10 years from now”
I bought my house to live in for my lifetime. I have no desire to leave it. It is a wonderful sanctuary and place to raise my family.
“3:12 = biff = so transparent”
Apparently not THAT transparent, since I haven’t posted here until now. But it is fun watching the guests fight with each other…