houseBrooklyn Heights
19 Garden Place
Brown Harris Stevens
Sunday 11:30-1
$4,400,000
GMAP P*Shark

housePark Slope
354 10th Street
Betancourt
Sunday 1-3
$1,495,000
GMAP P*Shark

houseDitmas Park
466 Westminster Road
Brooklyn Properties
Sunday 12-1:30
$1,199,000
GMAP P*Shark

houseBushwick
51 Linden Street
Douglas Elliman
Sunday 12-1:30
$675,000
GMAP P*Shark


What's Your Take? Leave a Comment

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  1. What are the carrying costs on that Ditmas house? (Chime in seller/broker).

    Have people seen it? I see things written like it needs restoration and the roof needs replacing- but is that just conjecture? You can’t tell that from the listing. (Though the kitchen is obviously bad)

    Yes the brick looks bad and the interior looks like it needs paint, but it doesn’t look that bad. Don’t know the comps, but if it’s overpriced, someone will just offer lower, and it will eventually sell, right?

  2. guest at December 14, 2007 4:18 PM:

    And there have been homes in similar or better condition that have sold for less than 1 million so what’s your point? And today’s market is not yesterday’s market, with jumbos over 7%.

    Looking at MKG’s site for comps as you recommend, I see 718 East 18th Street at $1.19, which is a much prettier house both inside and out, and has been sitting on the market for a while. I see 271 Stratford, which was similar size and condition to this house except it actually has a beautiful fireplace/mantle plus fretwork selling for $985. Smaller houses may have aggressive bidding, or they may sit on the market for many, many months after numerous price cuts, witness 1407 Dorchester, which can’t sell at $899.

    500 Marlborough (which was pristine inside and out) may have went to contract after a few months on the market, but we don’t know at what price. Even if, for the sake of argument, it went at ask (1.35), it had 11 stained glass windows, fireplace and mantles, pocket doors, etc. that blow away 466 Westminster. So after you spend 1.2 on 466 Westminster and then spend several hundred thousand to restore it, there’s no way you’re getting your money back because it’s just a mediocre house.

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