Last Week's Biggest Sales
1. MIDWOOD $2,150,000 1189 Ocean Parkway, Unit 7A GMAP (left) No listings for this new condo turned up via the usual channels. According to DOB records, it got its TCO at the end of March. It has 13 units and was designed by Bricolage. Entered into contract on 3/1/06; closed on 4/29/09; deed recorded on…
1. MIDWOOD $2,150,000
1189 Ocean Parkway, Unit 7A GMAP (left)
No listings for this new condo turned up via the usual channels. According to DOB records, it got its TCO at the end of March. It has 13 units and was designed by Bricolage. Entered into contract on 3/1/06; closed on 4/29/09; deed recorded on 5/13/09.
2. FORT GREENE $1,895,000
204 Adelphi Street GMAP (right)
This two-family house was featured in the Times in February, when it was asking $1,890,000. Its listing had the following to say: “This home is configured as an owner’s triplex with 4 bedrooms and 2.5 baths and a garden level 2 bedroom, 1 bath apartment, making it total 6 bedrooms and 3.5 baths.” It last sold for $965,000 in 2002, according to PropShark. Entered into contract on 2/26/09; closed on 5/7/09; deed recorded on 5/15/09.
3. MIDWOOD $1,778,400
1189 Ocean Parkway, Unit 3B GMAP
Same buyers involved in this week’s biggest sale also closed on another unit in the Midwood condo. Entered into contract on 9/13/06; closed on 4/29/09; deed recorded on 5/12/09.
4. CARROLL GARDENS $1,680,112
277 President Street, Unit 3B GMAP
One of the buyers in this condo conversion has been blogging about their purchase. The developer bought the brownstone for a hair above $2 million early last year. Entered into contract on 4/30/09; closed on 4/30/09; deed recorded on 5/13/09.
5. BOROUGH PARK $1,550,000
1026 41st Street GMAP
This is a 2,244-sf, new construction house, according to Property Shark. Entered into contract on 3/31/08; closed on 4/23/09; deed recorded on 5/15/09.
1189 Ocean Parkway photo from EveryScape; 204 Adelphi photo from Property Shark.
7182713 – I’ve said this before, that I think we’re heading to 2003-04 levels, which were still plenty high, but at least 30-50% less than the peak. Given where prices were 10 years ago (in many cases, they tripled from 1999-2008), I think 03-04 is a pretty reasonable spot to land.
miss muff…at what previous price year do you feel brooklyn real estate would be fairly valued today? 2005? 1995?
Chaka – I’m thinking it’s the ultra orthodox/Hassidim in Midwood who are buying at these prices… Situations like Kensingtonian describes above… I don’t know how many of them were invested with Madoff. Clearly lots of reform, conservative, and modern orthodox were scammed by that sleazeball…
Posted by: Architerrorist at May 19, 2009 4:02 PM
I tend to agree.
I agree, BHO…you can’t have any fun if all you got is a house to live in and no partying money. If I never any spent money on beer and wine I’d be living next to Bloomberg.
You’ve got me, DIBS. My predicament only affords me a Fort Greene brownstone or two (now or half off). If I saved more I’d afford a Tribeca penthouse. But I like saving AND “living”.
***Bid half off peak comps***
“we’re thinking of retiring and downsizing soon”
Call Corcoran today! You will not see 1.895 in 10 months. Seriously.
***Bid half off peak comps***
Chaka – I’m thinking it’s the ultra orthodox/Hassidim in Midwood who are buying at these prices… Situations like Kensingtonian describes above… I don’t know how many of them were invested with Madoff. Clearly lots of reform, conservative, and modern orthodox were scammed by that sleazeball…
BHO…maybe if you knew a little bit more about saving you wouldn’t be in this precicament.
“I think the foreign mentality in general is to OWN and not rent.”
True but sad. That kind of blind faith has put people in deep doo doo. “RE only goes up!”
There’s a time when it makes sense to rent and a time when it makes sense to buy. People always say “you throw your money away on rent” while in reality you can throw away a lot more money on a purchase if you fail to crunch the numbers (uncover the hidden costs).
***Bid half off peak comps***