Last Week's Biggest Sales
1. BOERUM HILL $2,800,000 28 Butler Street GMAP (left) According to StreetEasy, by the time this 3,000-sf, 2-family townhouse was listed in June—for $3.2 million—it was already in contract. It was last purchased for $950,000 in 2007. (Presumably the sellers renovated.) Entered into contract on 6/2/09; closed on 9/3/09; deed recorded on 9/17/09. 2. PARK…
1. BOERUM HILL $2,800,000
28 Butler Street GMAP (left)
According to StreetEasy, by the time this 3,000-sf, 2-family townhouse was listed in June—for $3.2 million—it was already in contract. It was last purchased for $950,000 in 2007. (Presumably the sellers renovated.) Entered into contract on 6/2/09; closed on 9/3/09; deed recorded on 9/17/09.
2. PARK SLOPE $2,200,000
213 Berkeley Place GMAP (right)
When this four-story brownstone was a House of the Day in April, it was listed for $2.475 million. The reader widget guessed it would ultimately sell for $1,984,668. Entered into contract on 7/23/09; closed on 8/28/09; deed recorded on 9/15/09.
3. PARK SLOPE $1,300,000
90 8th Avenue, #6B GMAP
This 1,860-sf, 3-bedroom co-op was listed for $1,395,000 in June, according to StreetEasy. Closed on 8/25/09; deed recorded on 9/14/09.
4. MILL BASIN $1,275,000
130 Whitman Drive GMAP
This is a 3,220-sf single-family, according to Property Shark. Entered into contract on 9/10/09; closed on 9/10/09; deed recorded on 9/16/09.
5. PARK SLOPE $1,250,500
133 Sterling Place, #4G GMAP
This 3-bedroom unit in the Vermeil condo was originally listed for $1.99 million in early 2007, according to StreetEasy. Entered into contract on 6/25/09; closed on 9/4/09; deed recorded on 9/14/09.
Photos from Property Shark
Agree with you there Ditmas. Really the *only* thing that makes North Slope far superior to the rest (in my mind) is being so close to the Q train at 7th Avenue and the 2/3 trains at either Bergen Street or Grand Army Plaza.
I can be in Union Square on the Q in under 20 minutes, door to door.
Any of those options are leaps and bounds better than the F. I lived near the F before and no matter how much I love the South Slope, I’d never want to live near that train exclusively again.
Lechacal – agree with your asessment. Rates and prices are not likely to rise any time soon, whether or not they crash – who knows. Add in the fact that rent is still less than the interest and common charges on an 80% mortgage in most places, it doesn’t seem to make economic sense to buy right now. The sidelines are a comfortable place to sit right now. Long term NY muni funds earning 3.5% triple tax free for me.
DH – Stuff gets cheaper as you go further south in the Slope. Depends on what you’re after. I lived for years on a numbered street off 5th Ave and really enjoyed it. It wasn’t as picturesque as the streets up near GAP, but the price, location and landlord were great.
Thanks 11217 – the studios actually look lovely and the price is right. But those are def outliers. What I’ve been seeing is 1600 for nice studio and one bedrooms at least 2,000 (there’s still a buttload of 2500 1 bedrooms floating around north slope)
I guess my point is – rents seem to be holding up pretty well in Brooklyn – despite everyone predicting a mass exodus to Manhattan due to their declining rents. (Based entirely on what i’ve seen in PS/WB/CG)
**goes to call about the 2nd listing**
11217…the first two are studios…dh said 1 bedroom. I didn’t check the last two since the first two did reflect what he’s looking for
DH:
What about these…? :
http://www.idealpropertiesgroup.com/property/details/13735#img_preview
http://newyork.craigslist.org/brk/fee/1386713683.html
http://newyork.craigslist.org/brk/nfb/1387042967.html
http://newyork.craigslist.org/brk/abo/1387022601.html
I don’t disagree, DIBS, but too difficult to see real data on townhouse resales. They don’t get resold too often and really don’t know what improvements are made.
Condos are more generic and it seems a bit more transient so I see resales and so easier to see trends.
I think they (townhouses and condos ) would trend direction-wise together(not necessarily at same rate)…except perhaps if a major glut of new development in an area.
have only read a few comments in this thread but have the following observations:
1. The Miss Muffett haters can kiss my ass. Muffett is articulate and determined. If you don’t agree with her then your recourse is to be articulate and determined in your own position, not attack her personally.
2. I haven’t commented on prices in ages, as I made the decision to rent for another year rather than but and I don’t want to think too much about the market in the meantime. But I will reiterate what I have said pretty much all along:
– prime brownstones not going to fall too much more
– condos in non-prime areas going to take a beating
– new condos in particular are a very dangerous investment right now (but Lincoln Place probably OK)
– Vermeil was ridiculously overpriced out of the gate (don’t know how many times I repeated this)
I will also offer my view that no one should feel the least bit pressured into buying right now on the threat that they might miss a run-up in prices, because they won’t. Prices will be either flat or down from here, at least for a while. If you are in a place in your life where it makes sense to buy then go ahead, but there will be zero pricing pressure on buyers for a while.
Done. Back to endless banter on the OT rather than engaging in actual discussions about real estate.
“1 bedrooms which had dropped as low as 1500 in the North Slope”
Late to the party – I’ve been looking for 1 bedroom rentals all over the place the past week or so (yes, even Park Slope) and I haven’t seen ANYTHING remotely liveable in PS for under 2k.