Last Week's Biggest Sales
Quite a chasm between 31 PPW’s original listing price and what it eventually sold for. 1. PARK SLOPE $2,375,000 31 Prospect Park West GMAP (left) As chronicled in a HOTD post in late July, this 2,800-square-foot one-family was first listed for $3,250,000 in April. There were several price cuts in the months that followed ($2.6…
Quite a chasm between 31 PPW’s original listing price and what it eventually sold for.
1. PARK SLOPE $2,375,000
31 Prospect Park West GMAP (left)
As chronicled in a HOTD post in late July, this 2,800-square-foot one-family was first listed for $3,250,000 in April. There were several price cuts in the months that followed ($2.6 million was its lowest asking), and it went into contract in September. Deed recorded 11/21.
2. PARK SLOPE $1,802,500
239 8th Street GMAP (right)
Per StreetEasy, this 2,920-square-foot, two-family was originally listed at $1,995,000 in late May. There were smallish price cuts in June, July, and this month, before it closed. It last sold for $835,000, in September 2006. Deed recorded 11/19.
3. MANHATTAN BEACH $1,500,000
270 Dover Street GMAP
1,895-sf, one-family built circa 1915, according to Property Shark. Deed recorded 11/21.
4. FORT GREENE $1,406,250
137 South Oxford Street GMAP
3,520, three-family, according to Property Shark. We’re curious about the lack of a listings trail on this one. Anyone know what the story was? Deed recorded 11/19.
5. BROOKLYN HEIGHTS $1,331,670
One Brooklyn Bridge Park, Unit 1008 GMAP
Sale included a parking spot. Deed recorded 11/19.
239 8th Street photo from Property Shark.
Peace out to Miss Muffet. She’s in my camp. I cannot get enough of her intelligent comments (yeah, I’m biased but her comments are intelligent). Repetition is key. Most of you still don’t get it. You say “yeah, I know prices will fall” but you think it’s gonna just be limited to 10 percent price sanding. So delusional. There’s not enough scoffing at these still ridiculously high prices. Not long ago you bulls (or gummy bears) thought prices would keep going up. Then you revised your forecast that prices would move sideways. Now the price sands. The facts, historical symptoms and logic need to be drilled into your head over and over again. Keep going Miss Muffet. Repetition is key.
We have to read over and over again “urbanization, everybody wants to live in NYC, population to skyrocket by 2030, yada yada yada”. Euphoria (in spite of economic comparisons to the Great Depression) is constantly pumped on this blog. It is the duty of a bull to dissiminate what’s REALLY likely to happen in the months and years to come. There’s not enough scoffing at these prices.
The negative responses to Miss Muffet are obviously those of owners/developers who are now questioning their positions. If she’s not REALLY in your head, you don’t respond. But you do. It speaks volumes. But you were warned about this crash for months and even years.
Just my kneejerk rant. (remember, repetition is key).
Ms Muffet the market will be at its low on June 29,2009. Call your broker that day. Cause its all up from there.
Frederick Law Homestead NAILED Ms. Muffet perfectly.
You summed it up better than I could have.
Reading her posts drain me, so I’ve stopped.
Nay!
Muffet – Prices will fall by next year when NYC unemployment is around 9% …
Everyone who wants Muffet to shut the hell up, say I!
Mr. Joist, you are definitely not alone. Since posting in July to say she was “dying to buy a modest townhouse”, Muffett has posted nearly every day (does she have a job to support her R.E. opinion habit?), banging the exact same drum about how much further prices need to come down for her to buy the dream home that is her god-given right. Muffett: it isn’t that you are wrong about prices. Nobody knows what they will do, including you. It’s that you are turning the comments into an echo chamber for your own aspirational neuroses and sense of entitlement, and won’t shut up about it, and NOBODY CARES whether you get a house or not. And whenever you do finally get a house, we can all expect to be treated to your opinions on why it was finally the right time to buy. But maybe even then the market will drop another 50% and Brooklyn will revert to a Warriors-esque hellscape, and you will be kept up nights by mortar fire and the inescapable fear that you overpaid.
MY OPINION: Prime Brownstone Brooklyn has demonstrated property price strength and will continue do so. Not by going up or staying flat but by falling less and recovering first.
THE DILEMMA FOR MISS MUFFETT : It must be hard seeing the sheer number of job losses, forclosures, and stock declines and still not see the property prices you want. It must be hard to find yourself hoping an economic recovery doesn’t happen. I just don’t think it is human nature to do it. We like to think we can get what we want without people being hurt. That is way she always insists people will be ok and they have made money even though there have been declines.
“P.S. Am I the only one annoyed by virtually all of Miss Muffet’s posts? They always seem to have a slightly bitchy tone. No offense.”
You are not alone. I skip her posts now. Always the same thing. And she makes zero distinction between a house selling at a discount because of the housing bubble collapse and a house priced too high in the first place. It’s like a broken record and yes, bitchy.
What I think is really interesting is looking at the comments on PPW house back in April. Yes, there were some nay-sayers out there (back then, you could comment as an anonymous “guest”) but there were bulls saying that 3.2million was a great price – and that there might even be a bidding war! Unfortunately, some sellers are *still* asking very aggressive prices and THAT is why prices still need to come down a LOT, even in prime areas.