Last Week's Biggest Sales
1. BOROUGH PARK $3,100,000 4620 12th Avenue GMAP (left) 3,132-sf, 3-family on a 6,000-sf lot, according to PropShark. An LLC purchased the house. Entered into contract on 5/27/08; closed on 11/19/08; deed recorded on 12/1/08. 2. WILLIAMSBURG $1,406,000 47 North 8th Street, Unit 6A GMAP (right) 2-bed, 2-bath unit in the Toll Brothers development is…
1. BOROUGH PARK $3,100,000
4620 12th Avenue GMAP (left)
3,132-sf, 3-family on a 6,000-sf lot, according to PropShark. An LLC purchased the house. Entered into contract on 5/27/08; closed on 11/19/08; deed recorded on 12/1/08.
2. WILLIAMSBURG $1,406,000
47 North 8th Street, Unit 6A GMAP (right)
2-bed, 2-bath unit in the Toll Brothers development is 1,340-sf, according to StreetEasy. Sale included a parking spot. Entered into contract on 10/28/06; closed on 11/4/2008; deed recorded on 12/5/2008.
3. PARK SLOPE $1,400,000
392 2nd Street GMAP
3-family, 3,548-sf brick building was at one point asking $1,600,000, according to this listing. Entered into contract on 11/12/08; closed on 11/12/08; deed recorded on 12/03/08.
3. BERGEN BEACH $1,400,000
2205 East 73rd Street GMAP
3,116-sf, 3-family house on a 6,000-sf lot, according to Property Shark. Entered into contract on 5/28/08; closed on 10/28/08; deed recorded on 12/02/08.
4. PARK SLOPE $1,300,000
382 Butler Street GMAP
House was originally listed for $1,499,000 in October of last year, per StreetEasy. 4,376-sf, 3-family with a yearly rental income of $85,200, according to its listing. Entered into contract on 2/26/08; closed on 6/27/08; deed recorded on 12/03/08.
4. CARROLL GARDENS $1,300,000
317 Degraw Street GMAP
When we had this as a HOTD in February, the 16-foot-wide townhouse was asking $1,599,000. Entered into contract on 8/12/08; closed on 10/30/08; deed recorded on 12/03/08.
4620 12th Avenue photo from Property Shark; North 8 photo by TrespassersWill.
“So is it realistic to bid 250,000 dollars for someone that is asking 550,000 dollars for a condo?”
Absolutely. If you bid such, it becomes real. If it becomes real, it becomes realistic. wasder said there’s no hard and fast rules. You’re bid will get rejected today but accepted tomorrow as the asks of sobering sellers chase the market down to the bottom.
***Bid half off peak comps***
(Thanks, Miss Muffet)
So is it realistic to bid 250,000 dollars for someone that is asking 550,000 dollars for a condo? The real estate agents of Brooklyn Heights and Carroll Gardens are the ones that are not lowering the prices. They are the ones that are keeping the prices pumped up. If they don’t have to sell good for them but if they are strapped for cash then you will see For Sale signs pop up left and right in rapid sequence
“Suggestions please.”
My suggestion would be to give up on the concept of an all encompassing slogan because if the last few years have proved anything its that there are no hard and fast rules about anything.
Relativism rules!
OK, got it. I guess “Bid half off peak comps” is clearest. Thanks for clarification.
“Can you please clarify?”
Let’s say I can afford $1M. Rather than be turned off by $2M listings (backed up by recent comps which happen to be peak, the highest for this bubble cycle, for argument sake), I bid anyway but at a 50% crew cut.
The slogan was meant to transcend time, to span the transition between denial and fear. If asks start getting more realistic, then it’s the peak comps you need to look at, hence the “…/peak comps…”
Maybe just: ***Bid half off ask/peak comps*** ???
or: ***Bid half off peak comps regardless of asks*** ???
Suggestions please.
BHO, what do you mean by:
***Bid half off twice the ask/peak comps you can afford***?
I know you’ve tried to explain it, but it’s still confusing. Half off twice the ask would seem to be the same as the full ask, no? But your handle suggests you think prices should be cut 50%. Can you please clarify? I suggest you re-write your tag line to make clearer…
didnt a house sell for over 1 million in park slope in the late 80’s
also I read that as 10/28/08 as well. thats crazy.
“I am sorry I did not know that Brooklyn had the same prestige as the Thames,the Senna or the Tiber rivers.”
So it is the river… thought it might have been (-;
Ohhhhhhhh…..
I mis-read that as 10/28/08.