Last Week's Biggest Sales
1. COBBLE HILL $2,190,000 127 Congress Street, Unit 1 GMAP (left) 2,300-sf, 3-bed, 2.5-bath duplex unit in a brownstone. In addition to noting that there’s a pond in the backyard, its listing said the parlor floor has “13 foot ceilings inclusive of open living and dining rooms, both centered by period mantelpieces. There is a…
1. COBBLE HILL $2,190,000
127 Congress Street, Unit 1 GMAP (left)
2,300-sf, 3-bed, 2.5-bath duplex unit in a brownstone. In addition to noting that there’s a pond in the backyard, its listing said the parlor floor has “13 foot ceilings inclusive of open living and dining rooms, both centered by period mantelpieces. There is a wood burning fireplace in the living room. A powder room, large kitchen and add’l room adjacent to the kitchen suitable for a home office complete the upper floor layout.” According to StreetEasy, Corcoran first listed it in mid-August for $5,000 less than its closing price. Deed recorded 11/13.
2. BROOKLYN HEIGHTS $2,100,000
One Brooklyn Bridge Park, Unit 429 GMAP (right)
As with many of the One BBP sales, no online specs easily available for this unit. Deed recorded 11/10.
3. WINDSOR TERRACE $1,400,000
1518 10th Avenue GMAP
This is what a buyer ponied up for the building that replaced “The Charming Paint Peeler” of Windsor Terrace. The building is slightly under 2,000 square feet, says StreetEasy. Deed recorded 11/13.
4. BROOKLYN HEIGHTS $1,285,421
One Brooklyn Bridge Park, Unit 327 GMAP
This one included a parking spot. Deed recorded 11/13.
5. BOROUGH PARK $1,200,000
814 59th Street GMAP
3,288-sf, two-family brick townhouse. Deed recorded 11/14.
5. BRIGHTON BEACH $1,200,000
60 Oceana Drive West, Unit 8D GMAP
1,743-sf condo. Deed recorded 11/13.
5. SOUTH SLOPE $1,200,000
451 11th Street GMAP
2,295-sf, three-family house. Deed recorded 11/10.
127 Congress photo from Property Shark.
comments on the names was regarding the fact that he called them foreign. That was plane ignorant.
The argument was valid
petebklyn’s point was somewhat clumsily made but it is valid. those names are arabic. arabs (or arab-americans) make up roughly 1% of the population of new york city. thus, the odds of two arabs being on both sides of a real estate transaction purely by chance are roughly one-hundredth of 1%, or 1 in 10,000. yes, it’s possible, but it’s much more likely that the parties were related in some fashion.
A seven handle on the Dow, an out and out crash; and some people are still talking about “comps”? We’ve cycled through every possible rationale for buying at these prices –mispriced credit, panic (buy now, it’ll double in eighteen months!), European demand, Upper West Siders who just sold etc etc., and now we’re just descending into name calling and myth. Why if every asset in the world is now at a fifty per cent discount from six months ago is a brownstone in Brooklyn worth four times more than it was five years ago? Momentum takes over in both directions: “It’ll be cheaper in a year” is going to send a lot of big mouths on this blog to drink. No pity here, frankly.
The “foreign-sounding” name comment is very strange and though this may not have been the intent, sounds xeno-phobic…
Anyway, a reminder that the “biggest sales” and “open houses 6 months later” feature will only really start to reflect the new reality when it reflects properties hitting market/contracts that were taking place post Sept 18ish… So, we’re talking late Dec/January at the earliest. Even though the writing was on the wall before the crisis and NYC housing market was starting to show plenty of cracks before, there is a huge chasm that separates pre-crisis and post-crisis sales.
foreign as in immigrant 1st generation to live in america.
Shahbain
Alesayi
Those names aren’t foreign in Brooklyn.
“…and buyer and seller both have very foreign sounding name…”
Last time I checked, “Smith” was a “foreign” name on these shores at one time.
By “very foreign” do you mean non-Anglo?
Sigh.
Comments on WT?
Those of you wanting to use 11th street as a comp – I would be a bit hesitant.
Transfer was from Shahbain, Issam M to Alesayi, Fadhel
and Shahbains haved owned since 1977.
No proof that this was not an open market sale – but since a bargain and buyer and seller both have very foreign sounding name with same nationality I would question.