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
And remember Jonathan (or whoever logs in at the office under that sign-on), a stock is usually valued only at the last price paid for it. I’ve always found it rather absurd that a stock price is the very last price paid when the activity/volume may be tiny. For large companies, all it takes is a small block of shares sold for either too much or too little to supposedly set the going rate…doesn’t quite make sense. Maybe it’s the same thing with homes…although, the mechanism/buying dynamic is probably quite different.
Any finance whizzes care to elaborate on this one?
Housing always follows the market so this little echo bubble underway is not surprising. Unfortunately once the explicit and implicit government programs end, the downward trend will resume, probably next year. The 50% housing reversion to the mean will continue as higher unemployment continues, and credit continues to contract with banks fighting higher foreclosures rates and bigger loan losses.
Fortunately Brooklyn will not be impacted as much as other areas of New York and the rest of the United States since overall migration trends favor areas such as Brooklyn.
11217, agree completely on the badly priced junk sitting and well priced good condition ones moving quick. What puzzles me is the middle of the pack bunch (ok price and ok condition) where I’m seeing the divergent sales cycle times. the only thing that comes to mind is that the 2 family ones are selling best vs. the 1 and 4 families are sitting.
Well then 11271,
Let them eat pie.
***Someday bid half off peak taglines***
re: widget, it’s no surprise that actual price exceeds average prediction. you only need one person at the upper end for the deal to happen. it’s not a stock!
11217–never shut your pie hole. Your brand of confident opinionating is much needed around here. Just so everyone knows I am completely down with people who have strong opinions and can articulate them effectively whether I agree or not. Muffet is one of those.
I’m gunna have to agree completely with BrooklynGreene on her take on Miss Muffet. She rubs me the wrong way, but I’m sure the same can be said of me for some of you, so I guess I should shut my piehole.
pedantic pessimists who proudly proclaim palatial price chops are plopping psychadelic pills at this point.
puhlease.
“some are moving at decent clip and a bunch are sitting forever despite the price cuts”
Isn’t that always the case M4L? Seems normal to me. Some properties are crap and overpriced, and some are right on the money and priced wisely. This isn’t a new phenomenon to have some properties go in weeks and others to sit and sit.
With regard to rents, I believe they are actually creeping up a bit. At least in PS where I am most familiar. In January, there were at least a few listing for 2 bedrooms in the 2200-2400 range, and now there seem to be few, if any. These same apartments seem to be back up in the 2400-2600 range. 1 bedrooms which had dropped as low as 1500 in the North Slope are back up to around 1700 or 1800. Those are just my very non scientific numbers from helping lots of people move and always looking at listings…