Sales: Big Haircut Required To Get 160 Henry Street Done
When we wrote up Apartment 5A at 160 Henry Street in Brooklyn Heights last March, readers were digging the apartment but, generally, not the asking price of $3,250,000. The market agreed: A price cut followed in April and another in May, bringing the list price to $2,800,000. At the end of May, a low-baller won…
When we wrote up Apartment 5A at 160 Henry Street in Brooklyn Heights last March, readers were digging the apartment but, generally, not the asking price of $3,250,000. The market agreed: A price cut followed in April and another in May, bringing the list price to $2,800,000. At the end of May, a low-baller won the day with a bid of $2,500,000. Good buy?
160 Henry Street [Brown Harris Stevens] GMAP P*Shark
Co-op of the Day: 160 Henry Street [Brownstoner]
Sold: 160 Henry Street, #5A [StreetEasy]
I would say property “value” increases of 50 to 250% in four or five years (as some recent postings have shown) is both ridiculous and constitute “go-go growth” if you want to give it a positive connotation.
I, on the other hand, consider it unsustainable growth with an ethos of irrational oneupmanship and price-points lacking any grounding in reality.
But that’s just me.
Is there someone out there who does not believe that the hyper-increase in Brooklyn RE prices over the past four years does not constitute go-go growth?
HEEEEYOOOOOOOO
christmas cheer 24/7
santa- that’s been my price point for the ‘bottom’…
Keep dreaming, Santa.
2.5 looks like a good deal for this apartment.
it looks like santa is hoping for christmas year-round…
studios are already cheaper in brooklyn heights than they are in park slope and caroll gardens. If things keep up I could see studios going for 200k in the heights.
maybe…
“and corresponding decreases in go-go growth.”
What planet have you’ve been living on Sam?
of course it’s a reduction. the key question is the $psf relative to comparable sales. in the march post, ‘stoner says an apt on the 8th floor went for $2.745 in 2007 and a poster said the “same” apt on a lower floor went for $1.6 million in 2003. doesn’t that make it 9% or so less than the 2007 sale, assuming they’re comparable apts? (i don’t know how to discount for the lower floor, but it seems we’re talking at least 7% decrease.)