Last Week's Biggest Sales
1. COBBLE HILL $3,132,000 213 Congress Street GMAP (left) When this 25-foot-wide, brick single-family was a House of the Day in January, it was listed for $4,400,000. Entered into contract on 6/19/09; closed on 7/17/09; deed recorded on 8/5/09. 2. PARK SLOPE $2,800,000 897 Union Street GMAP (right) This single-family was a House of the…
1. COBBLE HILL $3,132,000
213 Congress Street GMAP (left)
When this 25-foot-wide, brick single-family was a House of the Day in January, it was listed for $4,400,000. Entered into contract on 6/19/09; closed on 7/17/09; deed recorded on 8/5/09.
2. PARK SLOPE $2,800,000
897 Union Street GMAP (right)
This single-family was a House of the Day in February, when it was listed for $2,995,000. The sellers purchased it for $2,600,000 in March 2005. Entered into contract on 5/12/09; closed on 7/23/09; deed recorded on 8/5/09.
3. GREENWOOD HEIGHTS (?) $1,425,000
157 19th Street GMAP
Tough to pinpoint a neighborhood on this location, and the whole transaction seems slightly bizarre: The two-family house was first listed for $1,250,000 way back in December ’07, according to StreetEasy, went on and off the market a bunch of times, and was ultimately asking $899,000 last November. So how did it sell for $1.4 mil??? It’s 1,800 square feet and last sold for $605,000 in 2007, per PropShark. Entered into contract on 7/9/09; closed on 7/9/09; deed recorded on 8/5/09.
4. WILLIAMSBURG $1,250,000
85 North 3rd Street, Unit 410 GMAP
This is a 2,000-square-foot loft in the Mill Building condo, according to StreetEasy. It was listed for $1,495,000 in February. Entered into contract on 6/19/09; closed on 7/27/09; deed recorded on 8/7/09.
5. DYKER HEIGHTS $$1,125,000
1315 74th Street GMAP
This house was asking what it went for, according to this listing. Entered into contract on 4/12/09; closed on 7/22/09; deed recorded on 8/7/09.
Pics from Property Shark.
Well done, Biggest Sales. Brownstone Brooklyn made it through the apocalypse without collapsing, esp. at the higher end. This seems to me evidence of the Wall Street bailout’s efficacy in preserving a social class more than evidence for price rationality in the RE market. If my money or (perversely, inexplicably) my self-esteem (DIBS) were tied up in an illiquid asset, I’d worry about a.) the Goldman backlash, which indicates a zero tolerance policy going forward against mismanaged risk, and b.) the long term health of the dollar, which, when strong, pushes up the price of domestic non-tradables like RE; and seriously worry about c.) BK quality of life, which is crashing at the low end. Say I have a couple mil to spend on RE and am looking at what this market offers me. At some point I have to consider what my quality of life would be living in rural NY in a beautiful Greek Revival with 1.5 in the bank; or watching as my purchasing power relative to bankers and their enablers erodes, even as my neighborhood loses social services.
I would have to agree “biggest sales” are just that.
“Take a look at the sales above.”
Exactly. Nothing. In the grand scheme of things, as many on this blog agree, it’s naaaaaahhhhhwwwwwthing. You will always have lofty sales even at market bottom (in 1929 there were lofty trades). It tells you little or nothing. So fine, at best you have little which for all intents and purposes is naaaaaaahhhhhwwwwthing.
Why don’t we get rid of this tread altogether? But this is where I always find Team Bullshit.
***Bid half off peak comps***
I’ve got nothing?
Take a look at the sales above.
Could you at least post your comment in a thread where it would make sense, like in a condo going rental or something…?
To say I’ve got nothing in a thread about homes selling for 3 million dollars makes you look like an even bigger moron than you usually do.
“BHO = What”
Last resort when you got naaaaaaahhhhhwwwwwwthing.
***Bid half off peak comps***
I’m with dh. Seems very What-like to me. Perhaps the What on meds.
I thought it was confirmed that BHO = What.
dh, it did not include the requisite “I Beam up the ass” prediction.
3:49 was very “The What”-esque.