Last Week's Biggest Sales
First few post-September meltdown contracts and closings we’ve seen. 1. PROSPECT HEIGHTS $3,140,000 1 Grand Army Plaza/On Prospect Park, Unit 5F GMAP (left) 3,199-square-foot, 4-bedroom, 3-bath unit in the Richard Meier-designed condo, according to its listing. Current listings in the building are running from $885,000 for a 1,000-sf 1-bed to $3.1 million for a 4-bedroom,…
First few post-September meltdown contracts and closings we’ve seen.
1. PROSPECT HEIGHTS $3,140,000
1 Grand Army Plaza/On Prospect Park, Unit 5F GMAP (left)
3,199-square-foot, 4-bedroom, 3-bath unit in the Richard Meier-designed condo, according to its listing. Current listings in the building are running from $885,000 for a 1,000-sf 1-bed to $3.1 million for a 4-bedroom, says StreetEasy. Entered into contract on 5/22/08; closed on 12/23/08; deed recorded on 1/02/09.
2. CLINTON HILL $1,930,000
147 St. James Place GMAP (right)
This former SRO was asking $1,950,000 when it was a House of the Day in late September. Last owners purchased the 2,688-sf, 3-family for $995,000 in January ’07 and gut renovated. Entered into contract on 11/3/08; closed on 12/15/08; deed recorded on 12/29/08.
3. PARK SLOPE $1,580,000
838 President Street, Unit 1 GMAP
1,840-sf, 4-bed, 2-bath condo, according to its listing. StreetEasy says it hit the market in mid-September and went into contract within a few weeks. Entered into contract on 10/7/08; closed on 12/19/08; deed recorded on 12/29/08.
4. PROSPECT HEIGHTS $1,510,000
265 Prospect Place GMAP
5,240-sf, 4-family, according to Property Shark. Entered into contract on 9/27/08; closed on 11/28/08; deed recorded on 12/31/08.
5. MIDWOOD $1,400,500
1348 East 8th Street GMAP
2,658-sf, 2-family house, according to Property Shark. Entered into contract on 8/18/08; closed on 11/17/08; deed recorded on 12/30/08.
Photo of 147 St. James Place from StreetEasy.
Also, didn’t anybody read the article Tuesday (posted on this blog) saying that things fell off a cliff in 4th qtr and there is a bloodbath coming?
http://www.nytimes.com/2009/01/06/nyregion/06estate.html
“blah blah frigging blah … all these places went into contract before the October crunch. you won’t be seeing anything substantial after that.”
Ha! I love the predictability of the comments here. Unfortunately, this contradicts the facts – St.James place went into contract on Nov 3, according to info above.
Traditionalmod and 11217 – re: renting out instead of selling – even the article 11217 alludes to points out that’s not an option for all. As for us, we only need one house and there are certainly going to be some sellers out there who won’t have the luxury of waiting this market out since it could be a while. Price declines ARE happening (and growing) no matter what Sebb and the bulls want to believe.
blah blah frigging blah … all these places went into contract before the October crunch. you won’t be seeing anything substantial after that. the market is D E A D and will remain as such for at least a year. suckers
11217 – “park slope area”
also someone who posts on here used to live in that gowanus apartment according to some other post. They said it was $1350 when they moved out a few years ago.
I think the 1.6 million for the condo is reality (or was), that’s $888 psf. I sold a place for that psf in 2006 in park slope, so I’m not blown away as it sounds nice and family sized. family sized being the key to everything. family sized will always sell, no matter what. the demand remains huge.
tyburg – you said:
“people spend $1.6 MILLION on A condo in Park Slope? Jesus. I think I need to move somewhere that isn’t retarded.”
If you intend your pricing standard to take into consideration the particular unit – you need to say
‘………$1.6 MILLION on THAT condo………..’
words matter
I saw that apartment re-listed too, Santa.
It actually looks kinda cute. Small, but cute.
Mortgage on that place (WITH maintenance) would be around $1200 or so (without interest deduction), so it’s definitely looking like a good deal.
You can’t rent a studio in the North Slope for that amount.
The other areas you mention are not in Park Slope. President between 3rd and 4th or anything beyond 15th. I’m not surprised those areas are experiencing some rent decreases.
frsq,
I didn’t feel the Meier building needed comment… $3 million for an apartment in that glass thing is truly silly.
You are right… my standard of judgement make no differentiation about the “particular condo” when it’s priced at $1.6 million! You’ve got to be kidding.