Last Week's Biggest Sales in Brooklyn
Here are the top five residential sales recorded in city records for Brooklyn last week. Several House of the Day alums made the list, and the Bay Ridge house was (somewhat surprisingly) the only big-ticket non-brownstone Brooklyn sale: 1. COBBLE HILL $2,563,000 21 Tompkins Place GMAP 3,375-sf landmark building; deal recorded on 1/23. 2. PARK…
Here are the top five residential sales recorded in city records for Brooklyn last week. Several House of the Day alums made the list, and the Bay Ridge house was (somewhat surprisingly) the only big-ticket non-brownstone Brooklyn sale:
1. COBBLE HILL $2,563,000
21 Tompkins Place GMAP
3,375-sf landmark building; deal recorded on 1/23.
2. PARK SLOPE $2,352,000
207 Berkeley Place GMAP
Former HOTD; 4-story, 2-family house; deal recorded on 1/22.
3. BAY RIDGE $2,250,000
8375 Shore Road GMAP
2,460-sf townhouse built circa 1920; deal recorded on 1/24.
4. COBBLE HILL $2,200,000
44 Strong Place GMAP
Former HOTD; 4,000-sf, 22-foot wide brownstone; deal recorded on 1/22.
5. PROSPECT HEIGHTS $2,200,000
202 Prospect Place GMAP
Former HOTD; 4-story, 2-family brownstone listed at $2,495,000; deal recorded on 1/22.
Photo of 22 Tompkins Place by Kate Leonova for Property Shark.
Those economist are refering to NPV’s (Net present value), which means in 2013, the house will be worth the exact same as it is worth in 2006. Nonetheless, there will still be 5 years of inflation during that period. What the economists are actually predicting is that 2013, will only be the start of a recovery, not the start of another unprecedented increase in housing values.
I think 2:00 is referring to the same economists who assured us the subprime crisis was contained.
I don’t agree with that 1:53.
Nor do most economists.
The latest worst case scenario I’ve heard is that by 2013, we should be back to 2006 (top of the market) prices.
And then things should start to accelerate beyond that due to demographic changes that will include many people looking to enter the housing market at that time.
When you say “in their lifetime” you are assuming that all of us homeowners in Brooklyn are 70.
I’m 30 and I will definitely see prices at that level in the next 60 years. (real terms!).
“they can hold out for the right buyer, if they feel that is in their best interest”
They fail to realize that they will never see 2007 prices again (real terms) before they die. By 2010, they shoulda coulda woulda. They will be chasing their paper equity into the ground.
because they are ASKING prices. people shoot for the moon with their asking price, knowing that they will take far less.
you need to look on the selling prices.
all of which are pretty healthy here. don’t see any reason to speculate from these listing that the market is turning…even though it is.
2.35 million for a fixer upper? that’s no bargain.
Why are houses selling so far below the asking price? When many of these houses were listed as a HOTD, people were genuinely analyzing the house based on teh asking price? Is the market really starting to turn that much?
Whoa. When I saw the picture and headline in the above posting, I first thought it was that Cobble Hill $8.7 million listing, and that it had sold at that price. Guess not.
I agree…I do think think these North Slope homes will be worth 5 million.
But probably in 10 years.
Not one.
Haters. WHen these properties are worth $5m NEXT YEAR, you’ll all be the ones wishing you had jumped at the opportunities.