Open House Picks: Six Months Later
Comment: Wonder what the deal with that transfer on Vanderbilt is. Open House Picks 10/30/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Wonder what the deal with that transfer on Vanderbilt is.
Open House Picks 10/30/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
I agree with everything DIBS said, and see that prices are holding up pretty well.
Houses in this condition *outside* the Stuy Heights area also getting $500,000 to $600,000, depending on the house.
But Housebywe — isn’t that a little bullish? Maybe $800,000-ish.
In any case, this is a beautiful block and a good location. Plus only one block outside Stuy Heights. Price seems strong. Maybe it was renovated and in move-in condition with many original details.
Was this the one with the funny colored family dining room?
Agreed, DIBS. We have had several buyers looking in prime Bed Stuy for months. Not much comes to the market so in our estimation prices have actually risen slightly in the oast 12 months as demand increases and inventory continues to be relatively low. If anyone has a well-renovated, 20′-ish 4 story townhouse with some details near the Nostrand, Kingston/Throop or Utica stops they should get close to a million.
2 out of 4 so push AGAIN for the nth week in a row
Unfortunately I cannot recal what shape the Bed Stuy house was in. $650k was what people were paying in Stuy Heigts to acquire a nice place with detail that needed full mechanical upgrades in 2006-2008. This house isn’t very close to Stuy Heights as our astute BHO points out. With prices like these, I could sell mine for more than I bought it for.
What is the case in Bed Stuy is that there is VERY LITTLE inventory in the nicer sections and people who can’t afford to pay over $1MM to live in Ft greene/Clinton Hill are coming here. Prices will rise faster from a lower base in bed Stuy than anywhere else as this market has bottomed….just like they dod 2000-2008…in %age terms, the best market.
BHO — I have no idea what comps are for the Bed Stuy house, but my view remains that comps, not asks are what matters. You’ve taken a position contrary to both logic and your own tagline, in using asks as your benchmark. I’m entitled to ask whether it works both ways in your view, but I have no opinion about whether the B-S house is a strong price or not. I simply don’t know.
Does anyone recall what the interior of that Bed Stuy house looked like?
“Bed Stuy above ask!!!!! Vindication.”
Retardation.
***Bid half off peak comps***
2/4. One over, one under. Close but no draw. This one goes to the Bear’s Lair.
“I wonder what BHO is going to say about a Bed-Stuy sale 5% above ask…”
Same thing I said 6 mos ago: “Another grossly overpriced brownstone east of Ma Ma Ma Ma Maaaaallllcom X.” Traded for $470K in ’04 so that’s certainly where its comps are headed or worse. Yeah, the buyers will look back and regret this one.
“…since he thinks asks are as valid as comps in analyzing the market.”
Easy to accept when it works in your favor, huh? Well, be consistent when we discuss drops from ask (like 735 Rugby above or other such casualties involving brownstones).
My Team’s Bear…
***Bid half off peak comps***
$10 sale in Clinton hill is because that’s where the What lives. Who wants to live there???