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]
“and now Williamsburg.” – Sorry to hear that.
Boerum Hill is clearly the best neighbourhood in all of Brooklyn. No doubt, son.
“But there isn’t an area more rude than PS.”
how is an area rude?
you sound like a total moron.
“Well the LES just got voted one of the best neighborhoods in the country by Forbes”
I’d love to see the link to that…
A google search came up with nothing on that topic, other than an article by Forbes about how much the lower east side real estate has appreciated from a poverty stricken tenement neighborhood to expensive condos.
Made zero mention of best neighborhood.
But prove me wrong…
12:48 Oh my gosh, I’m sure the residents of the Upper East Side are simply crushed. Perhaps black and purple bunting may be in order.
Oh but I love the townhouses on the UES on the quieter streets. So pretty. I’d take one of those in a heartbeat. The UWS is like a suburban mall. Not appealing for me. Too many chain stores. Bland.
i’ve lived in UES, UWS, BH, PS and now Williamsburg.
All areas are just fine for different reasons.
But there isn’t an area more rude than PS.
It’s like a cult. residents spend all their time trying to “convert” you to agreeing that it’s better than manattahan, better than every other brooklyn neighborhood. (and will drop it got voted one of the best neighborhoods in the country)
Well the LES just got voted one of the best neighborhoods in the country by Forbes, so you don’t need a green park and ornate brownstones to be a great neighborhood.
Sorry, I meant to say, “I can easily go to a bar/restaurant IN A NUMBER OF NEARBY AREAS while appreciating…”
12:51, that was good!
12:47 please expand on your investment portfolio “I can invest that in plenty of other assets that are likely to outperform real estate”
From June 1997 to June 2007, the S&P 500 returned 56%. My condo in Manhattan during, that exact same period, returned 289% and didn’t fall in price during the 2000-2003 stock market selloff.
What instruments are you talking about and what timeframe???