Last Week's Biggest Sales
1.BROOKLYN HEIGHTS $2,701,000 161 Hicks Street GMAP (left) This 2,816-sf, 2-family was first listed for $3,500,000 last September, according to StreetEasy. By the time it was an Open House Pick in March, it was asking $2,950,000. The house last sold for $2,125,000 in 2003, according to Property Shark. Entered into contract on 5/1/09; closed on…
1.BROOKLYN HEIGHTS $2,701,000
161 Hicks Street GMAP (left)
This 2,816-sf, 2-family was first listed for $3,500,000 last September, according to StreetEasy. By the time it was an Open House Pick in March, it was asking $2,950,000. The house last sold for $2,125,000 in 2003, according to Property Shark. Entered into contract on 5/1/09; closed on 6/4/09; deed recorded on 6/17/09.
2. BROOKLYN HEIGHTS $1,425,000
62 Joralemon Street, Unit 3 GMAP (right)
This 3-bed, 2-bath co-op was first listed for $1,995,000 last July, says StreetEasy. The price was reduced a couple of times, until it was asking $1,600,000 in November. The maintenance is $1,624. Entered into contract on 3/17/09; closed on 6/11/09; deed recorded on 6/16/09.
3. DUMBO $1,282,200
31 Washington Street, Unit 14 GMAP
Listing history/size of unit unkown. Average sale price in the condo is $1,531,000, according to StreetEasy. Entered into contract on 7/1/08; closed on 7/17/08; deed recorded on 6/18/09.
4. BAY RIDGE $1,110,000
637 Ovington Avenue GMAP
This 2-family brick house was listed for $1,250,000. Entered into contract on 3/26/09; closed on 5/15/09; deed recorded on 6/15/09.
5. PARK SLOPE $1,100,000
350 2nd Street, Unit 6F GMAP
A 1,700-sf, 3-bedroom, duplex condo, according to its listing. Entered into contract on 3/24/09; closed on 6/12/09; deed recorded on 6/18/09.
Photos from Property Shark.
I keep hearing about the 321 re-zoning, which is gonna piss off a lot of people in new 4th ave devs. since that is a major selling point. Also, I don’t think the sibling rule is still in affect…if 1 kid is already in the school, then they re-zone the area, when the next kid is ready to enter, s/he is not guaranteed a spot in same school.
I agree that being on a side street is a big diff. from being on 4th ave., esp. the “wrong” side of 4th, as most new devs. are.
It’s frustrating that even in this market (supposedly a buyer’s market), your 3 BR condo choices in PS are:
a) Your dream-come-true…STILL priced at $800+ psf.
b) A unit in a new dev. on Fringe Fourth or some other fringe area…that’s 1200 sq. ft. or less. Now that’s just insulting. Dr. Barry Sears himself would consider that Attachment-Parenting to the extreme.
c) A 2200 sq. ft. duplex, priced over 1.5M, that is half bomb shelter.
d) Some combo of the above, way over-priced AND in District 13.
i think there’s a pretty big difference between being on 2d street and being on 4th avenue. setting aside aesthetics and the poorer reputation of the new condos on 4th in terms of construction, if the doe decides to rezone i think 4th ave would be vulnerable to being cut out of 321. no big deal for those who’ve already got their kids into 321, but would affect resale for sure.
Hi MM: This development has been around for a few years now (maybe sold in 2004ish?) so they are in a different position from new construction (condo plan is effective, 100% occupancy, developer out of the picture, etc). That being said I think this development will be weighed down by all of the new construction around the corner on 4th Ave.
Please someone else respond to Miss Muffet.
I just don’t have the strength.
Also, are these really selling well today? I think I’ve seen various apartments in these new construction units on the market for a while now, lingering, and there’s been a lot of talk about how the new construction condos are most vulnerable in this environment.
bkbornandbred: You sure that place went into contract fast? Maybe it was an identical unit that I looked at back in the day that was asking around $1.5. Kind of doesn’t matter though – I’m sure the place is the same as what I looked at and all of my comments still stand.
Also, I’m right there with you on the lower duplexes with the quasi-subterranean “rec room”. Let’s face it: brownstones just aren’t supposed to go condo, and the big square footage numbers of those lower duplexes are never as impressive in person. If I had a dollar for every overpriced lower duplex condo conversion I had trekked through in the past few years…. well, I’d be able to buy 007 cocktail at the Tea Lounge and leave a decent tip.
Yes…if more 3 BR condos in PS were priced at this ppsf (or even listed at a price that seemed negotiable to this price), I’d be happy. And I ain’t talking ’bout those 2000+ sq. ft. duplexes where the “lower level” is a glorified basement.
2nd Street went in to contract FAST, within about a month of being listed. I’m sure the buyers and their lil’ kiddies are very pleased.
Using the 2nd street sale as a mark on psf value in that development, the 3-bed simplex units with the little balconies on either end (which I think are around 1200 sf) should be worth about $775k. Discount for lack of roof access and you have maybe $750k, which actually sounds about right to me based on the various units I have looked at in that development. I’m sure 10thStreetReno got out at over a million (probably asked more like $1.2 for starters? Or maybe $1.15?) but 10 months ago is a long time in this market.
“every once in a while I like to pour myself a scotch, take out the file and see what ever happened to all those places I looked at”
Nice.
“not a fan of elevators opening direclty into a home”
Me neither. Could you imagine a malfunction?
***Bid half off peak comps***