Last Week's Biggest Sales
1. PROSPECT HEIGHTS $4,378,475 On Prospect Park, Unit 8A GMAP (left) A 3,258-square-foot, 4-bedroom unit in the Richard Meier-designed condo, according to StreetEasy. Entered into contract on 3/7/09; closed on 3/26/09; deed recorded on 4/8/09. 2. MIDWOOD $3,475,000 944 East 8th Street GMAP (right) 2,300-sf, single-family house, according to Property Shark. Transaction was an estate…
1. PROSPECT HEIGHTS $4,378,475
On Prospect Park, Unit 8A GMAP (left)
A 3,258-square-foot, 4-bedroom unit in the Richard Meier-designed condo, according to StreetEasy. Entered into contract on 3/7/09; closed on 3/26/09; deed recorded on 4/8/09.
2. MIDWOOD $3,475,000
944 East 8th Street GMAP (right)
2,300-sf, single-family house, according to Property Shark. Transaction was an estate sale. Entered into contract on 6/19/08; closed on 2/19/09; deed recorded on 4/6/09.
3. DUMBO $2,475,000
One Main Street, Unit 10D GMAP
This 2,477-sf, 2-bedroom condo was listed for $2.6 million in late October, according to StreetEasy. Entered into contract on 1/6/09; closed on 3/12/09; deed recorded on 4/6/09.
4. PARK SLOPE $2,325,000
141 Lincoln Place GMAP
When this 3,516-sf, 2-family was a House of the Day in November, it was asking $2,595,000. The house last sold for $1.35 million in mid-2004, according to Property Shark. Entered into contract on 2/4/09; closed on 3/31/09; deed recorded on 4/10/09.
5. WILLIAMSBURG $1,683,000
502 Lorimer Street GMAP
This 3,840-sf two-family has a commercial unit on the ground floor, according to Property Shark. Entered into contract on 11/10/08; closed on 3/25/09; deed recorded on 4/7/09.
944 East 8th Street photo from Property Shark.
Oops, I meant Miss Muffet has said that brownstones currently selling for $2 million to $4 million will fall to $1 million to $2 million, and she will buy something for about $1 million to $1.3 million.
cute. i was characterizing your position, not quoting you, as i think you’re probably smart enough to realize.
i disagree – please find a quote of mine where I predicted “immediate, devastating price drops” – if no such quote exists, you too are putting words in my mouth.
t6, not a bad call. DH, you don’t get it. The person receiving the money has clean money. He wants to open a bank account, the banker says ‘where’d you get the money?’ He says, here it is, proceeds of a home sale. He wants to buy a business, say a restaurant. Or maybe a nice coop on CPW. He can pass the board cuz he can show the money came from a legit home sale.
So… I looked it up. This delightful Midwood property has a $8,041 (before deductions) annual tax bill.
This is “based,” in part, on a $2.47 million market value. Since it just sold for $3.45 million — then the market value is 40% higher than assessed?
Will the tax bill go up to $11,250?? Probably not, eh?
(By the way, I am disappointed folks didn’t like my money laundering theory… I thought I was on to something. It was actually an attempt to be generous to the buyers. The alternative, which is probably the truth, is that they are just a bunch of twats that are paying 300% more than a similar house 5 block away.)
yeah, that too. with the possibility of having to forfeit all of it.
I understand tyburg’s theory about selling at an inflated price to launder money, but I don’t think it would work in a home sale. The person receiving the money would just be getting a bunch of dirty money, right?
tyburg, these houses have been worth a lot of money for a long time. It was not just a run up since 2002. In fact, in the 1990’s many top-notch architects like Robert Stern and Charles Gwathmey design super-expensive houses in Midwood and further down Ocean Parkway. Many of them were published in Architecture Magazine. And I would say: huh? this house is in Brooklyn?? So it may be somewhat a gimmick but if so it is a long-running gimmick.
and, tybur6, your theory makes no sense. the sellers are usually old-school from the neighborhood, and NOT members of the radically insulated communities (which the buyers are). most of these neighborhood folks, i’m willing to bet, would be far too conservative to exchange their home and and probably sole asset, for $200K and a potential RICO indictment.