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.
oh one more thing.
this is currently the cheapest apt in park slope on street easy. http://www.streeteasy.com/nyc/sale/320550-coop-144-park-place-park-slope-brooklyn
215k down from 275k with 550 maint. around 400 sqf.
i think 11217 beat up some old lady and stole her apartment.
also according to my looking over of craigslist rent in the park slope area are down alot. I was look at this place between 3rd and 4th on president thats around 800 sqf thats been dropped from 1700 to 1400 over the last month.
also lots of 2 beds in the teens for around 2000 when they were 2400ish a year ago.
Hey 11217, are you on the block between 6th ave and 7th ave or the block between 7th ave and 8th ave? Just curious for no particular reason.
I just found out I’m dropping my payment by more than $250 dollars a month due to my refinance!!!
I’ll now be paying less than $1000 a month in my mortgage payment.
There is SOME good news in all of this economic turmoil!
I haven’t stopped by for a few weeks. I see we are still having the same debate.
Sebb will be proven wrong. Miss Muffett will be proven right. There really isn’t much to do here but wait and see.
There will continue to be some transactions at prices that give hope to the Sebbs of the world. But prices aren’t the story right now, volume is. And volume is way down and won’t recover until prices fall, which they will. In the meantime sellers are continuing to hold out hope that for whatever reason (New York is different, Park Slope is different, interest rates are going down, whatever) they don’t have lower prices, and there will continue to be the occasional buyer willing to pay current asking prices. But it will take an awful lot more buyers at those prices to keep prices where they have been, and sorry Sebb, that just ain’t happening.
Muffett, stay patient, stay calm. You will be rewarded.
Rents are not dropping in Bed Stuy. Nor are they getting negotiated down by tenants.
Miss Muffett: i thought you would have bought already. You were speaking of a nice cabin somewhere in Camden New jersey. No?
“Apparently St. James was an all-cash transaction.”
Actually, only $1M cash was put down (a birdy told me so – anyone in a position to refute?). This mirage of a comp is unfortunate (if even true as brownstoner and Shahn are questioning). It’ll only reinforce denial in nearby sellers who will continue to chase prevailing comps into the ground. But I gotta say, the renovation was very well done. Even the rentals. And I am so gonna bite that cellar design with the daylight through the grating when I get my brownstone. Kitchen was tricked out too.
“Of the three people I know who are selling or about to sell, none are willing to accept a lowball offer. They’ve already decided to rent their places out for however long it takes and they’re comfortable with that…Psychologically that’s where people are at and where they will stay for at least a couple years.” – tradition…@1:32
That’s cute but the reality is that rents are dropping too (see thread from a day or two ago). The average brownstone owner in all of Brooklyn will just not have the luxury of “holding on” throughout this economic depression. Forced sales (divorce, relocation, insolvency, etc.) are inevitable.
***Bid half off peak comps***
Do you know how loud it is down there at night!!!!???? Karl looks like he’s stuck in 1975.