Open House Picks
Park Slope 761 Carroll Street Brooklyn Properties Sat 1-3, Sun 2-4 $2,950,000 GMAP P*Shark Sunset Park 558 44th Street Century 21 Sunday 2:30-4:30 $899,000 GMAP P*Shark Prospect Lefferts Gardens 365 Parkside Avenue Brown Harris Stevens Sat 2-4, Sun 2-4 $879,000 GMAP P*Shark Bedford Stuyvesant 526 Madison Street Corcoran Saturday 2-4 $800,000 GMAP P*Shark
Park Slope
761 Carroll Street
Brooklyn Properties
Sat 1-3, Sun 2-4
$2,950,000
GMAP P*Shark
Sunset Park
558 44th Street
Century 21
Sunday 2:30-4:30
$899,000
GMAP P*Shark
Prospect Lefferts Gardens
365 Parkside Avenue
Brown Harris Stevens
Sat 2-4, Sun 2-4
$879,000
GMAP P*Shark
Bedford Stuyvesant
526 Madison Street
Corcoran
Saturday 2-4
$800,000
GMAP P*Shark
I think those who think that these properties are well priced are in for a shock. I know I’m not the only would-be buyer who is taking a wait-and-see approach and isn’t going to buy anything for at least 6 months–at which point prices will be at least 10% lower. You’d have to be a fool to pay that much for Sunset Park, PLG, or BS at this point in time.
Sunset Park looks well priced based on what’s happening in that area. Corcoran is listing new properties of this caliber in the $950-$1M range and they seem to be moving.
Based on the condition, original details, location (across from the park), and flexibility to have 0, 1, or 2 rental units to offset the mortgage, I think this property is priced well and will sell in a reasonable amount of time.
2:05pm,
Duh! Of course location is driving price. And 4000sf of nicely detailed living space ain’t exactly slumming it.
Would agree with whomever pointed out the kitchen sucks. But, a $100K kitchen reno for the slob who buys this baby would be a drop in the bucket.
If the Carroll Street house goes for ask or over, it is definitely a matter of location. The house is very “nice” but hardly extraordinary in terms of renovation. It may be prime, but it ain’t Montgomery.
1:43pm,
You are at least half-right. Better, get used to the bifurcated market concept.
One market that serves the typcial 1st time buyer of limited means and an entirely different market geared towards an affluent buyer with substantial means and a desire to put down big bucks to live exactly where they want and exactly in the type of house want to live in. Park Slope attracts both, but to get into a prime-location bstone in PS requires being the latter.
Whoever buys the Carroll St house for upper-2’s is going to be well-heeled and looking at a long-term play. They’re buying a place to live for the next 20 years, and possibly longer. That market may be a relatively small part of the market, but it’s not likely to see a “correction” anytime soon.
You might want to rethink your concept of over-priced when it comes to this particular market.
As for Madison, I think “can be delivered vacant” pretty much means what it says. It’s fairly standard listing boilerplate. If that’s a concern for you, just write into the deal that you will not close until the house is vacant.
agree w/ 1:25. $2.3M for Carroll, a 4000 sf house, would be $575/sf — that wd be the bargain of the year. Pretty sure similar North/Center Slope houses — including ones outside the 321 district — have priced more in the $700/sf range.
All 4 listings strike me as overpriced, given the market. Carroll street is nice, but I agree that 2.3 is more realistic. 900K for Sunset Park also seems way too high. The Parkside house looks nice too, but with a fully renovated 4 story townhouse on Rutland being reduced by 150K and the limestone on Maple still sitting on the market at 975K, 880K for Parkside seems a bit delusional. Ditto for the BedStuy house, which isn’t even nice.
It seems like there are 2 markets out there now. One reflects the reduced prices of the current market and the other steadfastly ingnores the changed situation and keeps trying to push the envelope. Very stange…
The description of the tenant situation on madison st. is interesting as well. Neither tenant has a lease, could (maybe) be delivered vacant, etc. Seems a little dicey.