Last Week's Biggest Sales
1. BAY RIDGE $2,100,000 7601 Narrows Avenue GMAP (left) This single-family last sold for $999,999 in 2005, according to Property Shark. The house first hit the market in September, priced at $2,900,000, according to StreetEasy; it was asking $2.5 million by the time it was an Open House Pick in January. Entered into contract on…
1. BAY RIDGE $2,100,000
7601 Narrows Avenue GMAP (left)
This single-family last sold for $999,999 in 2005, according to Property Shark. The house first hit the market in September, priced at $2,900,000, according to StreetEasy; it was asking $2.5 million by the time it was an Open House Pick in January. Entered into contract on 4/20/09; closed on 5/29/09; deed recorded on 6/4/09.
2. BOERUM HILL $1,715,000
203 Dean Street GMAP (right)
This 3,600-sf house hadn’t changed hands in 40 years, according to its listing: “This handsome and detail filled Boerum Hill brownstone is ready for your creative and sensative (sic) updating…it has all the details you want in a Landmarked townhome: dramatic parlour arch, elaborate plaster molding along with crown moldings and medallions, built-in cabinetry, 11 foot high parlour ceilings…” Entered into contract on 5/29/09; closed on 5/29/09; deed recorded on 6/3/09.
3. PARK SLOPE $1,595,000
506 10th Street GMAP
This 2,052-sf, two-family brownstone was evidently priced to sell: It hit the market in early February asking $1,595,000, according to StreetEasy, and was in contract within a couple weeks. Listing had this to say: “Exquisitely renovated, architect-designed 3 story, 1 family (legal 2 family) brownstone. This light-filled home has many restored details including plaster moldings, marble mantel, pocket doors and walnut stair rail, all of which blend seamlessly with the modern bathrooms and kitchen design.” Entered into contract on 2/13/09; closed on 5/28/09; deed recorded on 6/4/09.
4. GREENPOINT $1,320,000
21 Greenpoint Avenue GMAP
A 3,300-sf, two-family, according to PropShark. Entered into contract on 12/19/08; closed on 5/28/09; deed recorded on 6/5/09.
5. FORT GREENE $1,300,000
249 Carlton Avenue GMAP
This 3,330-square-foot brownstone was a House of the Day in February, when it was listed for $1.5 million. Listing said it needed TLC. Entered into contract on 4/10/09; closed on 5/28/09; deed recorded on 6/5/09.
7601 Narrows photo from StreetEasy; 203 Dean photo from Property Shark.
203 Dean was priced at $1.725 out of the gate – not a bargain for estate sale condition but made 291 State St (similar condition but slightly smaller) look way overpriced IMO.
Sebb – actually what you say is untrue. My previous apt, in a prime brownstone hood, went down in value by at least 35% from peak to crash in last big downturn and took many years to climb back up. And that last recession was mild compared to this one.
As the Open House 6 months later threads show, and just about every serious media analysis states, NYC prices will probably wind up a minimum of 40% down from peak, if not more. Fringe hoods may suffer more, and prime hoods might suffer less, but it’s really property by property, block by block.
Your capacity for denial (not to mention typos) never ceases to amaze.
Re: 10th Street – my memory is that they took that middle “dead” space (which is often used for bathrooms or closets) and made it a bedroom with a skylight. I have friends who have done this too and it works well for them. The challenge is that it’s harder to get ventilation (I suppose you can install a mechanical system to open and close the skylight) but it does maximize the space. Also, you obviously then have trade-off with bathrooms/storage and/or laundry. My preferred configuration is a wider house (i.e. 20 x 40) where you can have 3, or even 4 true bedrooms up top (granted with the smaller one(s) being small but not closet-sized as is the case with the 16-17 footers) and then you have bathrooms/storage in the middle.
Given how many houses we’ve seen, 10th street really stood out as being beautifully staged, with great renovation choices. Even if I didn’t agree with all of them (i.e. kitchen on garden floor vs. parlor), they had great taste and the house showed phenomenally well. Not what I’d call a typical house in this category.
Miss Muffett: I think you have confused NYC with Las vegas.
Maybe you don’t understand the Housing bubble very well.
Let me explain
Nyc had very little to zero speculators. The rest of America had major speculation going on.
After the recession of the 1970’s Nyc Real estate went down 12% overall, the 1970’s recession was even worse than this one.
After the recession of the 1990’s Nyc real estate went down 29% overall but did not go down in some nabe’s such as Carroll Gardens and Cobble Hill.
After both downturns real estate went up more than double the amount of loses.
So as you sit and wait for something that may never pan out, you should start looking into the Job and housing markets in South dakota or Nebraska.
Also if you think maybe the Job market is not so good in NYC , understand the rest of America never had a job market.
muffy – am curious whether 10th street seemed cramped on the top floor. i looked at the floor plan and am somewhat incredulous that they managed to fit three bedrooms in there at ~16×40.
Also, a reminder of what has been pointed out before: “Biggest sales” are just that – somewhat of an anomaly. Much more representative snapshots of the market can be found in the “Open House 6 months later” column, and as those show, prices ARE dropping.
Here I am sebb! The 10th Street house was beautiful. We were tempted by it. But I’m patient and in no rush, and time is on my side. I don’t see these numbers in contradiction to my position, which is price declines only started this past winter, and will take a while to bottom out, so these prices reflect the early end of the downward curve.
I’m a bear, and i can’t shut my mouth at that greenpoint price. Unbelievable. But true.
Per Street Easy, I see 1.715 Mil list for 203 Dean, but that may just be the last price. Can’t fiind it elsewhere.
Price at sale comes in at $430 per square foot.
You hear that 238 Wykoff….?!! Ok, yes you’re much prettier, but you are stuck between 2 projects.