Open House Picks 6 Months Later: 9/7/2007
Well, this almost seems like a zero-for-four batch, though 750 E. 21st allegedly has a firm offer (not in contract yet). The Cobble Hill house was originally listed at $2.9 mil; we caught it six months ago when the price had been chopped to $2.65. It’s now been fully rented out and is still for…
Well, this almost seems like a zero-for-four batch, though 750 E. 21st allegedly has a firm offer (not in contract yet). The Cobble Hill house was originally listed at $2.9 mil; we caught it six months ago when the price had been chopped to $2.65. It’s now been fully rented out and is still for sale at a slightly higher ask. 119 Bainbridge switched brokerages and was the subject of much chatter when it was House of the Day a few months ago. Brooklyn Properties now has it on their site at $1 mil.
Open House Picks 9/7/07 [Brownstoner]
“Sorry guys. You’ve missed the boat.”
What, that boat that’s getting sucked into the Abyss. Or is it a submarine as it is “underwater”. Don’t feel sorry for us. Many a rentals getting stockpiled on the market everyday.
damn 2:02. you are right. they are falling. so far i guess 5% right? that’s what people are saying, no?
so do you think i’ll lose out on the other 195% in appreciation i saw over the last 5 years too?
All of these fake posts about people who allegedly bought two years ago and sold last week doubling their money are absurd. If it’s true, they should identify the property, so we could check the records. It’s all public anyway. According to the public statistics, prices in NYC are falling. Case/Shiller average (even for NYC) is plummetting.
“Real estate prices have not declined. Perhaps you should check your facts.”
New York down 5.6%. Check!
http://tinyurl.com/3c8gkc
That boat is named Titanic.
Keep rearranging those deck chairs, kids.
The Brooklyn real estate market IS dead.
But only for the renters.
Sorry guys. You’ve missed the boat.
Again.
“And boy does Park Slope have a lot of condos coming to market.”
yeah, it has a few. it’s a fraction of the amount coming online in downtown brooklyn, williamsburg, clinton hill and prospect heights.
good try though.
most of the new buildings going up in park slope are at least 50% sold.
and the only place these buildings are going up is on 4th avenue…
barely even in park slope.
but you already knew that, right?
Well excuse me i guess you’re the only authority here. So tell me again how dead is the Brooklyn RE market.
I’ve said this before but will say it again, since the NY Sun article confirms this: the real estate market in NYC right now is 2-tiered. Quality properties in truly prime areas (and in NYC, blocks matter so in a neighborhood like PS, there’s a difference between 14th st bet 4/5 and lower numbered/named streets closer to park) continue to sell well since there are not many on the market and they remain desirable. However, properties that are “ugly ducklings” even in good areas, shoddy new construction, or in fringe areas are suffering. If you’re looking for a deal, hold out for a place in the latter category. If you’re in it for the long haul, you probably will be OK buying in the former category, if you can afford it. I would not be surprised if even prime properties see price declines in the coming 1-2 years, but I suspect they will not be as drastic as the declines in the more fringe properties. NYC really is not totally immune from national housing trends, but it also will not follow them to the T. Then again, no one really knows!