Multiple Price Cuts for Heights Houses
Not even Brooklyn Heights, the bluest chip in the borough, is proving immune to the pressures of a weakening market. Exhibit 1: Three of the lower-priced houses on the market in the area have recently had to undergo price reductions in their bids to find buyers. The most surprising of these, in our opinion, is…
Not even Brooklyn Heights, the bluest chip in the borough, is proving immune to the pressures of a weakening market. Exhibit 1: Three of the lower-priced houses on the market in the area have recently had to undergo price reductions in their bids to find buyers. The most surprising of these, in our opinion, is 72 Middagh, a 3,450-square-foot former school house with its own parking that recently underwent a pitch-perfect renovation. This one started out three months ago at $2,995,000 and was just cut to $2,895,000. The historic colonnade of 47 Willow Place was not enough to reel in a buyer at the initial asking price of $3,450,000, so after just five weeks, it too had its price trimmed to $3,200,000. These two cuts follow the unsuccessful efforts of a succession of brokers to unload the suburban-modern carriage house at 43 Love Lane. Brown Harris Stevens, Stribling and Halstead gave it a go for most of last year, starting at an original asking price of $3,500,000. Coldwell Banker took over in February at $2,995,000. With no better luck, they cut the asking price to $2,745,000 at the end of April. Where’s the bottom on this stuff?
72 Middagh Street [Corcoran] GMAP
47 Willow Place [Corcoran] GMAP
43 Love Lane [Coldwell Banker] GMAP
House of the Day: 43 Love Lane [Brownstoner]
HOTD: Love Lane Buyer, Wherefore Art Thou? [Brownstoner]
House of the Day: 72 Middagh Street [Brownstoner]
House of the Day: 47 Willow Place [Brownstoner]
I have empathy for anyone who rents.
I have empathy for those who have become part-time landlords to help pay the mortgage and property taxes.
Keep your heads up, things will pick up soon.
Every time I drive upstate I get three strangers into the car to pay the gas costs. Not that I need it of course. But I’m driving for free!
Actually I think 4:41 sounds like the creep.
That would be “envious” not “jealous”.
4:50…
I would say that the enviroment and soaring gas prices are going to have a lot of impact on your comment.
It isn’t just about what’s cool or uncool anymore.
It’s about the fact that New Jersey’s taxes (just an example) are outrageous and gas will probably be $7 a gallon in 3 years. Not to mention that prices in some areas of NJ have fallen so far that they probably will not recover in our lifetime.
How long are you willing to contribute to the demise of the planet, exactly?
It’s a question a lot of people are hopefully asking themselves right now.
4:59
you sound like a real creep.
“Hey 3.18 – you kids must love living in your mini-sized house inside the real house. How darling.”
My boyfriend and I (no kids) are just fine in our 2000 square feet. You know…especially since we are living for free and all. That 1000 a month extra comes in mighty handy also.
We own a brownstone now worth 3 million and don’t pay a dime in housing costs.
I know you’re jealous but your feeble attempts to belittle it really have no bearing on me.
prices are still too high in certain areas, but in other areas prices have dropped, and are dropping, quite a bit. The all important regional economy is key, as are lifestyle trends. If it suddenly becomes uncool to live and raise your children in crowded, gritty, urban neighborhoods, fasten you seatbelts for a wild descent. On the other hand if affluent people continue to think that it is simply fabulous to live in town then things will stabilize and even improve.
People think of real estate as a rock soild investment but its vsluation is really dependent on a variety of human factors that we just cannot predict.