Report: Bidding War in the South Slope
There was no sign of a market slowdown in the South Slope this past weekend. A tipster says he took part in a bidding war for wood-frame house at 322 12th Street that wound up going for more than 25 percent over asking: “They had an open house over the weekend and then did a…
There was no sign of a market slowdown in the South Slope this past weekend. A tipster says he took part in a bidding war for wood-frame house at 322 12th Street that wound up going for more than 25 percent over asking:
“They had an open house over the weekend and then did a ‘best and final’ offer session – essentially asking everyone to submit their best bid. The format was such that the bidders had no idea what anyone else had offered. The brokers, Lisa Taylor and Wassim Fakhereddine, naturally all the while whispering in everyone’s ears that were being outbid, never showing any cards, watching as the offers soared. Talk about causing a frenzy. 7 bids submitted in a day, 10 total.”
The 20-by-30-foot two-family wood frame house was asking $959,000 and the winning bid was $1.25 million, according to our correspondent. Questions remain: Did the 100-by-25 lot make the property seem that much more valuable, or did Corcoran’s whisper campaign play a big part in whipping bidders into a frenzy?
12th Street Listing [Corcoran] GMAP
This is a teardown folks, plain and simple. It’s the 25 foot lot that makes it viable for condos.
These folks got sucked in by Corcoran. Are there so many stupid people. 1200 Sq Feet ? If it was 2000 sq ft maybe, but this place is as big a s a 2 bedroom w backyward. I recently saw a listing for a large 2 bedroom with terrace somewhere in Park Slope North for abt less than 800,000. Maybe they have money to burn, I dont know. For those of you who “lost” consider yourselves fortunate.
Nothing accidental about those photos. Perfectly framed to obscure the low height of the building.
I like these wood houses too. But this one is small. Even if you add 20 feet to the back, you still only get 20x50x2. And you’ve paid close to $2M ($1.25M bid plus $500-$750K renovation all in). You’re still talking $1000psf.
Southie. I like it. My grandmother was from Southie (in Boston).
The photos on Corcorans site look like the photographer tripped on the sidewalk, and as he was falling accidentally snapped 3 times.
Awesome!
Something smells fishy about this one. Is it typical for a non-prevailing bidder to find out (i) how much the house actually went for, (ii) the number of other bidders?
One…two…three. A three story woodie in Southie for $1.25M? Watching these fools pay these prices is like watching an Amway seminar. Very entertaining and very funny. God bless Corcoran and the seller.
Gimme more, brownstoner.
I love these old wood frame houses.
So cute.
And the new Union Market is opening right around the corner from here.