Last Week's Biggest Sales
1. GRAVESEND $10,260,000 2111 East 2nd Street GMAP (left) As covered earlier, the trade of this 8,206-square-foot one-family is the biggest sale in Brooklyn this year—at least so far. Entered into contract on 9/16/09; closed on 9/16/09; deed recorded on 9/25/09. 2. BROOKLYN HEIGHTS $2,200,000$4,000,000 160 Henry Street, PH GMAP (right) When this 3,000-square-foot penthouse…
1. GRAVESEND $10,260,000
2111 East 2nd Street GMAP (left)
As covered earlier, the trade of this 8,206-square-foot one-family is the biggest sale in Brooklyn this year—at least so far. Entered into contract on 9/16/09; closed on 9/16/09; deed recorded on 9/25/09.
2. BROOKLYN HEIGHTS $2,200,000$4,000,000
160 Henry Street, PH GMAP (right)
When this 3,000-square-foot penthouse was a Co-op of the Day in March, it was listed for $4.25 million. Closed on 9/21/09; deed recorded on 9/25/09.
3. BROOKLYN HEIGHTS $3,150,000
1 Pierrepont Street, #8A GMAP
Sure, $3 million+ is a pretty penny, but the sale price for this sprawling co-op seems low given the prestige of the building and its asking price. (We’ve got a call into Brown Harris, which brokered the sale, to find out whether there was behind-the-scenes action not reflected in the public records sale price, and we’ll update this if they get back to us.) The 10-room co-op’s been on the market since last year, and the initial ask was $6,250,000, which was later reduced to $5,500,000. The reader widget guess on it clocked in at $4,764,268. Closed on 9/21/09; deed recorded on 9/24/09.
4. PROSPECT HEIGHTS $2,545,625
On Prospect Park, Unit 4F GMAP
This is a 1,090-sf unit in the Meier-designed condo, according to StreetEasy. Entered into contract on 8/13/09; closed on 8/27/09; deed recorded on 9/24/09.
5. PARK SLOPE $1,570,662
520 11th Street GMAP
This South Slope townhouse was originally listed for $2.25 million last year; after not selling, it was taken off the market and re-listed for $1,640,000 this May. Entered into contract on 7/7/09; closed on 8/27/09; deed recorded on 9/23/09.
Photos from Property Shark.
petebkln: r u here?
benson — nicely done!
all resales in our condo building (2006) have been significantly higher as well. one was about 15% over and the other was 30% over. just had an appraisal for a re-fi, and it showed a 10% increase. i’m not selling, so i don’t care anyway, but was happy to see that.
data benson?
you should be ashamed of yourself.
2nd street btwn 4/5 ave is a condo data mine given seasoned nature of condo projects.
I too am not sure if these biggest transactions are indicative of the general mkt but I’m always impressed with the large amt of $$$ trading hands
Boerumresident – there was talk that Bjork and Matthew Barney split after his alleged affair with another artist – maybe a pad for him and one for her? Gotta love the mix of real estate and gossip.
Pete and all;
I know that you’ve been asking for some time that we compile some real data on the trend for condo sales. Well, I’ve been doing just that, and I hereby present it. I want to see how Muffie tries to spin this data!
The condo in question is the one I live in: City View Gardens. It is a five-building condo complex, with three buildings on 2nd Street between 4th and 5th Ave, and two buildings on 3rd street between 4th and 5th Ave. All of these buildings are closer to 4th Ave. This condo complex was built in 2003-2004. While this condo is in Park Slope proper, it would not be considered “prime” Park Slope by some.
My condo complex is a very good market indicator for the following reason: 30 of these units consist of identical 3 BR, 2 BA apartments of 1350 to 1400 square feet. These apartments were initially offered for about $630,000 by the sponsor (the infamous Boymelgreen), and then he later upped the offering price to $680,000 due to the hot market at the time.
All of the data I am about to list below is a matter of public record, if anyone wants to do some fact-checking:
-September, 2005 (the first flip): apartment 4B in 306 2nd street sells for $911,000.
-Fall, 2007: Apartment 2J in 309 3rd Street sells for $1,050,000. This is the highest price recorded for one of these 3 BR apartments.
-January 2009: Apartment 1C in 306 2nd Street sells for $1,030,000.
-September 2009: Apartment 3H in 305 3rd Street goes into contract for $989,000.
So, let’s review the situation, shall we?
a) One year after Lehman, the actual SALES price is 6% less than the peak SALES price (No nonsense about cuts in asking price, which is meaningless). A little better than 50% off peak comps, I would say (BHO???)
b) One year after Lehman, the actual SALES price is still higher than 2005 levels.
I leave it to Muffie now to try to spin this data. Please inform us with those anectodotal stories “begging” you to offer 20% off the asking price. Please try to obfuscate with your talk about asking price, which, as I’ve tried to inform you so many times is MEANINGLESS.
repeat altogether. ask dont mean shite.
mm: even bho isnt idiotic enough to say 50% off peak asks. bho says in the tag, peak comps. show me the south slope home comparable in size and condition that went for $3.1 mio. right. doesn’t exist.
so, to your next argument. just wait, it’s just a matter of time.
and to your other previous points. LWBS isn’t indicative bc by definition it’s comprised of outliers. I would say there is truth to your point and this weeks crop is generally “haute categorie” for most buyers (except the PS house).
According to the forms filed with the city, 160 Henry Street sold for $4 million.
More interesting is that the seller of the 160 Henry penthouse was the buyer of the One Pierrepont apartment.
Correction: The 520 11th street south slope house was originally listed for $2.395 mill back in july 2008, not $2.25 mill, at least according to Street easy. So the discount from the ask, which may or may not be meaningful, is larger.
**********************************************************
07/08/2008
Listed in StreetEasy by Brown Harris Stevens at $2,395,000.
08/11/2008
Delisted temporarily.
09/09/2008
Re-listed by Brown Harris Stevens.
09/09/2008
Price decreased by 4% to $2,295,000.
10/29/2008
Delisted temporarily.
05/07/2009
Later Listed in StreetEasy by Prudential Elliman at $1,640,000.
09/01/2009
Prudential Elliman Listing is no longer available.