Last Week's Biggest Sales
No listings readily available for the Slope sales—anyone know how much they were asking, or how long they were on the market? 1. PARK SLOPE $3,000,000 409 8th Street GMAP (left) 2,511-sf, single-family townhouse. Last sold for $1,375,000 in February 2006, according to Property Shark. Deed recorded 9/24. 2. PARK SLOPE $1,865,000 481 4th Street…
No listings readily available for the Slope sales—anyone know how much they were asking, or how long they were on the market?
1. PARK SLOPE $3,000,000
409 8th Street GMAP (left)
2,511-sf, single-family townhouse. Last sold for $1,375,000 in February 2006, according to Property Shark. Deed recorded 9/24.
2. PARK SLOPE $1,865,000
481 4th Street GMAP (right)
An LLC purchased this 2,748-sf, four-family (all rental, perhaps?) property. Deed recorded 9/26.
3. BAY RIDGE $1,435,000
234 80th Street GMAP
4,632-sf, two-family house built circa 1925; has a garage. Deed recorded 9/24.
4. WINDSOR TERRACE $1,330,000
1670 10th Avenue GMAP
This one was an Open House Pick in late May, when it was listed at $1,425,000. According to its listing, the 55-foot-deep house was configured with an owners’ lower duplex and a top-floor rental. Deed recorded 9/24.
5. WILLIAMSBURG $1,320,990
North 8 condo, Unit 6G GMAP
Original asking for this 1,224-ft unit in the Toll Brothers’ development was $1,195,990; the higher sale price likely reflects the fact that a parking space was included. StreetEasy records show that it went into contract about a year ago. Deed recorded 9/24.
Photos from Property Shark.
I heard from a friend who has access to the Internet at work that a real estate blog he consults mentioned the new Credit Lyonnais BROOKLYN was thinking of a Red Hook location with a free ferry from Wall Street but decide on Fulton because of its proximity to BAM and all the exciting FG restaurants. Re: Credit Agricole, I think it is actually a division of Morgan Stanley or maybe Travelers.
Nokialuscious,
You haven’t been around much. Have you guys decided to give househunting a break for the time being? Have you finally experienced RE burnout?
11217,
Your Studio 54 example made me and Mlle. Muffay chuck, I mean chuckle…in many ways…Studio 54 was high (and I mean high) culture. Very indicative of how the real estate values and civic spending correlate to culture. Actually, you would better look at demographics and history. Funny…a lot of people like to say that that part of the 70’s was abysmal…go figure.
BTW, I don’t think Bloomberg should get the third term simply based on principle. Just like Jewel-Yanni didn’t get his “I want to be your Dream Mayor for a while longer so let’s postpone the election, why not…” wish, we have to make sure we do not live in an anything-goes feudal system (at least not on the surface). Bending the rules to please the nobles and monarchy clashes with our state and national covenants. Mind you, this is nothing against Bloomberg, the person.
I heard from the internet that Crédit Lyonnais was acquired by Crédit Agricole in 2003.
I heard from a friend that Credit Lyonnais is going in with Credit Agricole to put up a flagship tower on Fulton.
It doesn’t really matter what any of us think. Can prices in Brooklyn come down by a third of their peak? Sure. Has it happened before? Sure. Will it be different this time? Anything is possible. Does the supply of people willing to sell their houses at a lower price dry up, as it did in 1989 – 1992? Usually. Will there be sales that are significantly lower than asking prices? Yup. Will one of us be the lucky ones? Who knows. Will the potential buyers be able to get a loan? Maybe. Are most people who own houses in Brooklyn thinking of selling any time soon because the overall market is down? No. So there you have it. Supply and demand, and the ability to pay. Check back in a year or two from now and we’ll know the answers….
miss muffett, you’re a good sport. all in good fun!
11217 – I’m not sure why you single me out to argue your positions, since, as I said, we really agree on lots of things. I too think 30% sounds about right for a correction, but believe me, I love this city and want to stay since I think it will, in the long run, stay vibrant despite the inevitable rough patch we’re entering. Since we don’t want to stay in our temporary rental for very long, we probably will wind up buying before the market bottoms out, but that’s OK since even if “overpay” a bit, our next home is where we intend to stay for life. And I agree that euros have been helping the market, but it’s simply that we’re in a new phase now and that may slow down if not trickle away entirely. And as for Bloomberg, I totally agree that I’d love him to stay a 3rd term, term limits be damned! And this from a died-in-the-wool democrat that never thought I’d pull a Republican lever at the ballot box, and someone suspicious of too much executive power. But I really think the city would benefit from the stewardship of our competent mayor (even if he’s not without downsides i.e. school report cards, misguided stadium projects, etc.) during these difficult times.
I should have checked out Case-Schiller before saying anything:
http://calculatedrisk.blogspot.com/2008/09/case-shiller-house-prices-declined-in.html
NYC is down roughly 10% YoY. Obviously that’s a generic figure not specific to neighborhoods, but still, we’re headed South. I agree that 30% wouldn’t be the end of the world.
11217, cultural revival is a really fantastic point. You’re spot on about the relationship between dark times and culture.