Last Week's Biggest Sales
1. MILL BASIN $2,850,000 2235 East 66th Street GMAP (left) According to a listing, this house is 12,096 (!) square feet and was asking $5 million. Entered into contract on 9/22/09; closed on 9/22/09; deed recorded on 10/21/09. 2. PARK SLOPE $2,400,000 178 8th Avenue GMAP (right) When this single-family was a House of the…
1. MILL BASIN $2,850,000
2235 East 66th Street GMAP (left)
According to a listing, this house is 12,096 (!) square feet and was asking $5 million. Entered into contract on 9/22/09; closed on 9/22/09; deed recorded on 10/21/09.
2. PARK SLOPE $2,400,000
178 8th Avenue GMAP (right)
When this single-family was a House of the Day in May, it was listed for $2,995,000. The reader widget guesstimate for its selling price, $2,382,103, was pretty close to the mark. Entered into contract on 8/11/09; closed on 10/14/09; deed recorded on 10/21/09.
3. PARK SLOPE $1,975,000
458 2nd Street GMAP
This 4-story townhouse was listed for $2,235,000 in April, according to StreetEasy. Entered into contract on 9/15/09; closed on 10/6/09; deed recorded on 10/19/09.
4. MANHATTAN BEACH $1,700,000
118 Hastings Street GMAP
A 3,908-sf, 2-family, according to Property Shark. Entered into contract on 12/22/08; closed on 8/11/09; deed recorded on 10/23/09.
5. PROSPECT PARK SOUTH $1,600,000
1306 Albemarle Road GMAP
This sprawling Victorian Flatbush beauty was on the market for a long time. The 15-room manse was a House of the Day in September ’07, when it was listed for $2,595,000. By the time it was an Open House Pick this May, the price was down to $1,895,000. While the house sold for quite a bit less than it was initially asking, this still has to be one of the biggest sales ever in Prospect Park South. Entered into contract on 7/10/09; closed on 10/15/09; deed recorded on 10/23/09.
8th Avenue photo from Property Shark; Mill Basin photo from Realtor.com.
> ditmas–isn’t that 7 consecutive months of lessening declines though?
True, but continuing job losses and another big round of foreclosures as mortgages reset could very well lead to further declines.
This is a slow process. I suspect we won’t see the bottom for at least another couple of years.
>So I guess we just figured out that Steveb is BHO.
??
i support Bill Thompson because he is the better person for the hard-working families in new york who have recently gotten stiffed by the administration.
** Bill Thompson for Mayor **
>when you give $/sq ft on homes has come down ‘A LOT’ pls define ‘A LOT’
renovated brownstones in a good school district sold for north of $6-900/sq feet in 2008.
(montgomery place 1st street and 3rd street, for example)
So I guess we just figured out that Steveb is BHO.
same results with seasonally adjusted data.
we have six months of steady numbers.
at this rate, by feb/mar BHO’s metric will require him to call the market bottom. or change his metric.
when you give $/sq ft on homes has come down ‘A LOT’ pls define ‘A LOT’ and provide relevant comps. pls don’t provide a condo/coop comp. not relevant.
thanks.
>I don’t think the point of any of this is that we are out of woods
11217, I dont think it is possible for houses in some parts of the country to fall any more. Houses auctioned off in detroit are not able to find bids for just $500. Condos in Miami are selling for much less than $250/sq feet, which is the cost of construction. I have heard sales for as little as $100/sq feet.
So no, I dont think it is possible to get any worse in those parts of the country but less bad is still bad and may get worse.
***Bill Thompson for Mayor***
wasder, less bad is not the “new good”; it is still bad. Housing prices in parts of Florida and Michigan have declined to a fraction of the cost of construction. There is a natural floor of zero so the decline has to slow down at some point.
I don’t think the point of any of this is that we are out of woods, or that home prices are about to shoot back up anytime soon, but the bottom is not falling out any longer and home prices (as we can see above) did not collapse and the world continues on in relative harmony. 🙂
ditmas–isn’t that 7 consecutive months of lessening declines though?