Last Week's Biggest Sales
Strongest high-end sales week in awhile. 1. PARK SLOPE $4,000,000 631 Third Street GMAP (left) When we had this as a HOTD back in May, the 4,150-square-foot limestone townhouse was asking $4,195,000. No price chops for what the listing called “the finest townhouse in Park Slope,” according to StreetEasy. Deed recorded 11/24. 2. BROOKLYN HEIGHTS…
Strongest high-end sales week in awhile.
1. PARK SLOPE $4,000,000
631 Third Street GMAP (left)
When we had this as a HOTD back in May, the 4,150-square-foot limestone townhouse was asking $4,195,000. No price chops for what the listing called “the finest townhouse in Park Slope,” according to StreetEasy. Deed recorded 11/24.
2. BROOKLYN HEIGHTS $3,125,000 (& $2,011,890)
One Brooklyn Bridge Park, Unit 1015 (& 1014) GMAP (right)
The same buyers paid $3,125,000 and $2,011,890 for two adjoining units at One Brooklyn Bridge Park. Unit 1015 is 2,361 square feet, with 4 bedrooms and 3 1/2 baths, while the 2-bed, 2-bath 1014 weighs in at 1,585 square feet, according to Stribling’s Bruce Ehrmann. The sale of unit 1014 also included a parking space. Deeds recorded 11/26.
3. PARK SLOPE $2,388,000
511 Third Street GMAP
A HOTD in early September, when the two-fam was asking $2,400,000. It’s nearly the same size as this week’s top dog, 631 Third, and only about an avenue away. Deed recorded 11/24.
4. BRIGHTON BEACH $2,275,000
120 Oceana Drive West, PH6 GMAP
1,776-square-foot unit in a Brighton condo. Deed recorded 11/24.
5. PARK SLOPE $2,150,000
52 Berkeley Place GMAP
This three-family house was on and off the market over the past year+, with an original listing price of $2.6 million, says StreetEasy. Deed recorded 11/24.
631 Third Street photo from Property Shark.
Sure, the REAL financial crisis hit in October, but we have been in a pretty severe credit crisis for a year now.
I don’t doubt that 09 is going to be rough, but to suggest now that all of the sudden our problem just began in October is just flat out wrong.
Things have been effed up for a year now, and these purchases were made in the last year.
WIP…people that buy houses in this price range already have their financing in line or are paying cash. Closings are usually 45 days or less. That puts these contract signings in mid October at the earliest, already into the fall in the equity markets.
No one is dancing just saying that the sky is not falling here as some would suggest
WorkInProgress i do not think dancing is what anyone is doing. But the market in NYC will not go down like those other states.
I’ll admit I am not sure I fully understand the Street Easy info, but it looks to me like they went into contract on 9/17. Does that mean that in order to change the price the buyer would actually have to back out of the deal? 9/17 was pretty much pre-crash.
Not sure about the end of the world has already started or is getting closer and closer but few things should be mentioned here:
– Deeds recorded now, means that sales went into contract 2 to 3 month earlier and thus prior to the big economic crisis. So it will be interested to see what will happen in early 09 when the impacts of the crisis are going to be real.
– Sometime you bite off more than you can chew, see for example the 237 14th street house that was sold for 1.995 on 10/30 (http://bstoner.wpengine.com/brownstoner/archives/2008/11/last_weeks_bigg_35.php) and is now back on the market a month later for $2.150 (http://www.warrenlewis.com/cgi-bin/re/re_show.pl?re_command=show&ID=6502)
So it might be a bit early to start dancing again . . .
11217 I agree with you 100% the areas of Fl, Az, Ca are the problems. I do think NYC will be fine.
I never responded to any of Miss Muffetts posts until yesterday when I asked her what was her backup plan if she turns out to be wrong. Can’t remember but I think it had something to do with the increasing affordability of homes due to the interest rate decline.
11217…you will get a lot of arguments about that. None of the posters will produce anything concrete to back up their positions though.
I’m not rallying the cause for a property bull market just saying that 11217 is right. Quality and uniqueness relative to the rest of the country continues in both NYC as a whole and its housing stock in particular.
Since the Recession started DEC. 2007, guess Park Slope Brownstone market is close to recession proof. Better than the stock market.