Open House Picks
Clinton Hill 219 Washington Avenue Brown Harris Stevens Sunday 2-4 $1,999,000 was $2,275,000 GMAP P*Shark Windsor Terrace 102 Windsor Place Orrichio-Anderson Sunday 2-4 $1,400,000 was $1,525,000 GMAP P*Shark Park Slope 352 6th Street Fenwick Keats Sunday 12-3 $1,295,000 was $1,650,000 GMAP P*Shark Prospect Park South 225 Marlborough Road Mary Kay Gallagher Sunday 2:30-4 $975,000 was…
Clinton Hill
219 Washington Avenue
Brown Harris Stevens
Sunday 2-4
$1,999,000 was $2,275,000
GMAP P*Shark
Windsor Terrace
102 Windsor Place
Orrichio-Anderson
Sunday 2-4
$1,400,000 was $1,525,000
GMAP P*Shark
Park Slope
352 6th Street
Fenwick Keats
Sunday 12-3
$1,295,000 was $1,650,000
GMAP P*Shark
Prospect Park South
225 Marlborough Road
Mary Kay Gallagher
Sunday 2:30-4
$975,000 was $1,080,000
GMAP P*Shark
Minard, two and three family houses have sold for close to and over $2million in Clinton Hill every years since at least 2005. 2008 was the only year where $2 million was not exceeded (147 St. James came the closest at $1.93 in 12/2008). I don’t know if this will get the price in this economy, but saying it won’t because people don’t pay such prices for Clinton Hill is patently false, regardless of what your opinion of the neighborhood is and what you think people should pay. Just check out the department of finance list of closed purchases for evidence of what I’m saying.
http://www.nyc.gov/html/dof/html/pdf/08pdf/rolling_sales/neighborhood_sales/brooklyn_sales_prices.pdf
Again, who knows what they will get here. But your argument that they won’t get $2 million because people don’t pay that for Clinton Hill is factually incorrect.
What a nice bunch of ghetto properties unaffordable to almost anyone except wall street crooks. Hmm. Beverly Hills, the Hamptons, or Crack Avenue? Where do I want to drop my $2 mil?
I love Clinton Hill, I think this house is lovely, but the idea that it is worth two million dollars is ludicrous. How many houses have sold in the neighborhood for two million in the past three years? one? two? The neighborhhod has hundreds of houses.
Other houses in Clinton Hill have sold for such prices, and more, so its not outlandish for the location. 147 St. James (a less interesting house) sold for 1.93 in Nov/Dec. 08. There are others on Washington that needed lots of renovation that have sold in the 1.7 range. I think your perception of what the comps are is skewed by your feeling about the desirability of the location. Clearly your opinion of the location is not universal, otherwise such high comps in the past years, even post Lehman, would not have been so common. That’s not to say they’ll get their price (overpricing it intially will likely work against them).
Two million dollars does not buy merely central a.c. and a modern kitchen, it also needs to buy a good location. This is not a two million dollar location. This very basic tenet of real estate is one that many posters on this site are oblivious to.
“The house has central a.c. and a lovely parlor. why shouldn’t it be two milllion dollars?”
-The reason is that it is not located in Brooklyn Heights or Park Slope. It is located near Myrtle Avenue.
Why this very basic factor of real estate pricing seems to flumox some on this site is weird. I think it may be due to their extreme youth and naivete.
…or because they are seasoned realtors exploiting extreme youth and naivete.
I agree the Washington Ave house is very nice (great bones, nice original details, terrific views of Manhattan from the top floor). It was on the Clinton Hill house tour a few years back. But I suspect they shot themselves in the foot by over-pricing and even though they’ve now come down — probably not enough — they’ve lost the interest of serious, good-faith buyers.
I’ve seen the Clinton Hill house on Washington and some of these comments are completely off base. Firstly, if you don’t think it’s worth 2 mil just go and see it — beautiful reno, central AC, fantastic space and light. (I heard they had offers at well over 2M when the market was hot and decided not to sell). The house next-door has now sold and is getting a total reno. And as to nothing in Clinton Hill selling for this much, the house across the street sold last year for 1.7 and needed a complete gut… This property has just been a victim of the market crash, simple as that.
re Mary Kay Gallagher no Mary Kay Gallagher is not the SNL character, however Mary Kay does have a daughter Mary Katherine who was a cheer leader some years back.
oh i forget, blogs are for serious economists like you. ha ha ha ha.
of course it’s silly speculating but, at root, it’s no sillier than anything and everything you’ve ever graced us with…