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.
Also just checked in on one of my favorite buildings in Park Slope…153 Lincoln Place…the former brothel turned condo near 7th Avenue.
Those units only went for sale recently (definitely AFTER Lehman collapsed) and 4 of the 10 units have been sold according to Streeteasy.
I do actually, Pole. One is a male model and he banks about that much…easily.
One of my clients in fact…she’s 22 and made around 600K last year.
11217:
You don’t have any 23-year old friends making $500K a year. Stop playin’.
nyc87 and Ledbury, I agree with both of you. I think it would be very misleading to use the sales listed above as a measure of the health of the real estate market as a whole. My only point is there are buyers out there still (and always will be) who can afford upper end homes and I don’t agree with others who suggest these sales wouldn’t have occured if the homes were offered today.
slopefarm – Sorry do not know the story behind 14th street, Regarding the price my guess is that they are trying to recoup the various costs they had to pay buying the house.
DIB & 11217
631 3rd Street – all cash transaction, went into contract 3 days before the collapse of Lehman Brothers.
One Brooklyn Bridge Park Unit 1015: went into contract in February, before Bear Sterns and before anyone ever thought every venerable investment bank would either fold or become a commercial bank.
511 3rd Street – all cash transaction, went into contract in October. Not bad, but not subject to the lending woes facing many other buyers.
120 Oceana Drive West – ACRIS does not show a deed being recorded on the date specified above.
52 Berkeley Place – Went into contract in June. No mortgage.
So in short, with the exception of 511 3rd Street, none of these properties really tell us anything about the state of the market right now. Even that property, being an all cash transaction, is not particularly relevant considering the vast majority of people in this country cannot or do not purchase homes for cash.
btw, it took me 10 minutes to look up this data on ACRIS. If the brownstoner staff is going to continually post sales data, take the time to find out the contract date. The deed date tells us almost nothing about the market. This is especially important if the cheerleaders are going to use every sale as some sort of evidence that the real estate market in Brooklyn is impervious to the rapidly deteriorating worldwide economic conditions.
September 15th, the day Lehman Brothers collapsed, was a major turning point in the local economy. Anything that went into contract before that time is basically irrelevant to what is happening today.
that’s what attracted me ditto…the space, the yard, the quiet neighborhood. On top of it lower taxes, no CCs and rental income to boot. Kinda a no brainer.
I don’t think NYC is immune at all. I’m just trying to combat some of the implications that some on here seem to think that brownstones should be selling for 750K now in prime areas due to the financial crisis. It doesn’t happen that fast, number one. And it’s simply not going to be that deep, number 2.
I guess some of it is hyperbole, but it looks as though nice areas are still holding up fine. One would think that if we really are in the next great depression, multiple houses each week wouldn’t still be selling for multiple millions.
Seems some do indeed still have money, that’s all. Some people have less, and there are fewer with it I suppose, but the wealth in NYC is incredible. I often feel that some posting on here don’t seem to understand that. I have 23 year old friends fresh out of college making 300K, 400K, 500K a year. It’s true.
I don’t at all find it surprising that some people are still buying these gorgeous old homes.
I can’t fathom why people live in suffocating boxes in the desert known as the UES when they could live in a Brownstone. I suppose one man’s meat is another man’s poison.