Last Week's Biggest Sales
Hey, at least one house has gone for above asking in the past six months! 1.GRAVESEND $2,750,000 1959 East 5th Street GMAP (left) 2,049-sf, 2-fam house built circa 1920, says PropShark. Lot size=4,000 sf. Deed recorded 10/16. 2. BAY RIDGE $2,350,000 8423 Ridge Boulevard GMAP (right) 5,086-sf house with ground-floor commercial space. Lot size is…
Hey, at least one house has gone for above asking in the past six months!
1.GRAVESEND $2,750,000
1959 East 5th Street GMAP (left)
2,049-sf, 2-fam house built circa 1920, says PropShark. Lot size=4,000 sf. Deed recorded 10/16.
2. BAY RIDGE $2,350,000
8423 Ridge Boulevard GMAP (right)
5,086-sf house with ground-floor commercial space. Lot size is a whopping 11,500 sf. Deed recorded 10/16.
3. BAY RIDGE $2,300,000
8019 Harbor View Terrace GMAP
Per listing, this is a single-fam with six bedrooms and five baths. Last sold for $1,525,000 in ’03. Deed recorded 10/14.
4. PARK SLOPE $1,540,000
566 10th Street GMAP
Listed for $1,499,000 when it was an Open House Pick this May. 2,574-sf, 3-fam house. Deed recorded 10/16.
5. PARK SLOPE $1,409,500
133 Sterling Place, Unit 4B GMAP
3 beds, 2.5 baths, 1,543 feet in all, according to StreetEasy. Purchase also included a parking spot. The active listings at the condo range from $850K to $1.5M. Deed recorded 10/16.
Photos from Property Shark.
Gee….I thought I started off this thread on the right track.
Can’t we just talk about Bay Ridge.
There’s a synagogue in Bay Ridge. I heard rumors that it was going to be torn down for Condos.
Let’s just agree we are seeing this differently. These people will not be leaving this neighborhood. There will continue to be a demand for housing in this area as everyone in this specific community wants to be within walking distance of the synagogue and their community center. When $10 million was paid a year ago for one of these houses, comps had absolutely nothing to do with it. Supply and demand in the outside world has no bearing on Gravesend and certain parts of Midwood Brooklyn.
Comps are equivalent to stock prices. Whether you buy with cash or on margin is immaterial. You still stand to lose in a falling market. Syrain Jews did not become wealthy by overpaying for real estate.
“You are losing money everyday you sit on this blog waiting and waiting for prices to drop.”
Actually I’m losing money everyday in the depreciating asset I own (my apartment). I’m fine with it, and you should get used to it also.
sebb, please read some RE history. The period for the boom/bust cycle is typically 20 years. Significant price drops lag by years after the market turns (slow-motion train wreck). I don’t want you to get hurt, baby.
but, what do comps matter if they’re paying 100% cash for the house? or the purchaser’s parents are buying the house for them? or they are going to another family member for a loan??
11217: how am I wrong on this one? The place in PS went for more than asking enough said. How can Miss Muffett say otherwise. Ohh I guess she knows everyone. Grow Up already. You are losing money everyday you sit on this blog waiting and waiting for prices to drop.
But weathering the storm will mean ABSORBING losses. Absorbing losses still means TAKING losses. That will absolutely affect Gravesend comps in some negative fasion.
There is no zoned commercial space on Ridge Blvd!!
2. BAY RIDGE $2,350,000
8423 Ridge Boulevard GMAP (right)
5,086-sf house with ground-floor commercial space. Lot size is a whopping 11,500 sf. Deed recorded 10/16.