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
Whitey Bulger bought it.
1:00pm,
Are you serious? Very few wood frame adjacent row houses are still standing in Brooklyn that haven’t been butchered with sythetic siding and made to look like trailers.
Brick houses are much strong and much safer if there’s a fire. 99% of townhouses in Brooklyn are made of brick, not wood, and it’ not because brick is cheaper! It’s much more labor intensive to build a brick house, but the payoff is enormous!
Jake the Snake
12:35 explains why people are bidding $1.25M and why it won’t actually go to contract at that price (at least not for an owner occupant). Anyone who thinks this house only needs $100K work is the same person who would bid such a ludicrous amount.
if it went into contract, it would no longer be ON their website.
lord you people are dumb.
really, 12:55? Doesn’t appear anywhere on their web site. Hmm.
11:33, Southie is in Boston, not PS. $1.25 in Southie would REALLY be insane!
12:57 – Another jealous poster who can’t afford Park Slope
I love the way you all think these wood frames are such a fire hazard. If they were that much of a problem, how come they have lasted since they were built in the 1900’s?
I wish someone would buy the ugly little frame house next to me and tear it down!!
12:50 – obviously, who wouldn’t want to spend 1.25 mil to live in a smallish firebox in a neighborhood full of militant stroller pushers who don’t care that you eat at the table at the coffee shop where they hang out all day on Sunday changing diapers? Where can I sign up?