Last Week's Biggest Sales
1. GRAVESEND $5,002,000 2021 East 5th Street GMAP (left) Humble-looking house, big-ass price: Property Shark says it’s a 2,016-sf one-family. Entered into contract on 3/16/09; closed on 9/24/09; deed recorded on 10/6/09. 2. COBBLE HILL $1,945,000 51 Cheever Place GMAP (right) This 3,360-sf 3-family townhouse was first listed for $2,200,000 in June, according to StreetEasy….
1. GRAVESEND $5,002,000
2021 East 5th Street GMAP (left)
Humble-looking house, big-ass price: Property Shark says it’s a 2,016-sf one-family. Entered into contract on 3/16/09; closed on 9/24/09; deed recorded on 10/6/09.
2. COBBLE HILL $1,945,000
51 Cheever Place GMAP (right)
This 3,360-sf 3-family townhouse was first listed for $2,200,000 in June, according to StreetEasy. Entered into contract on 8/7/09; closed on 9/30/09; deed recorded on 10/8/09.
3. PROSPECT HEIGHTS $1,700,000
388 Sterling Place GMAP
Second go-round for this house on a Biggest Sales list: It sold for $1.6 million a little over a year ago. This time the 4-story, 4-family was first listed for $2,195,000 in March and was eventually asking $1,795,000 before it went into contract, according to StreetEasy. Entered into contract on 8/26/09; closed on 10/1/09; deed recorded on 10/9/09.
4. PROSPECT HEIGHTS $1,665,000
On Prospect Park, Unit 10B GMAP
StreetEasy says this unit in the Meier-designed condo is a 2,125-sf 3-bedroom. Entered into contract on 5/27/09; closed on 9/15/09; deed recorded on 10/8/09.
5. DUMBO $1,450,000
1 Main Street, #5L GMAP
This 1,655-sf condo was listed for $1,699,000 in July, according to StreetEasy. Entered into contract on 8/21/09; closed on 9/24/09; deed recorded on 10/5/09.
Photos from Property Shark.
“Through their own banks”
I don’t think they’re THAT rich… talk about conspiracy theories…
this is one of the many examples of how RELIGION (all of them) are WHACK!
*rob*
There is nothing mystical about Gravesend prices if you understand the community around it – tightly knit Syrian Jews. They are more than likely cash deals or with personal loans through their own banks.
As part of that community you are expected to live within specific locations. This means limited housing choices, thus higher prices. They are not shopping for houses in Park Slope, Bay Ridge or even the immediate neighborhoods even though they are less than 10 minute car drive. They want and NEED to stay in Gravesend. It is as important as marrying another “pure” Syrian Jew (no other kind of Jew BTW – even many orthodox from other countries).
Google. Even NY Times had several articles regarding the cultural traditions of this community. New Jersey has one too.
Basically, if you’re buying a 5 million dollar house you are not taking public trans, that’s why I would rather be in a quieter area.
I’m never going to able to afford to live in Gravesend. I’m just going to have to let that dream go.
For that money I would rather buy in Mill Basin or like 10 Tudor row houses in the decidedly quieter Marine Park
OK, what the hell goes on in Gravesend that I am missing?
These prices outpace even the best most high-end Manhattan has to offer…
There is definatley some conspiracy out there, or perhaps a giant gold mine underneath the homes that people are quietly mining from their basements?
Once again my “hometown” of Gravesend kicks butt!!!
Note to Mr. B.: before your advertisers start to drool over me, note that I came from the DECIDEDLY more downscale western half of Gravesend.
Question. I now know the reasons these Gravesend homes end up selling for so much, but I wonder about the financing aspect. Are these cash purchases? If not, how do you get a bank to back a price that high when generally the comps are not supporting it on the whole? Or are the banks appraising these properties at or near these astronomical sales prices?