The Biggest Sales of '08, So Far
These are the priciest residential sales in Brooklyn so far this year, per public records. The Heights dominated the first six months of the year, but the record-breaking One Main condo sale and the Connelly mansion closing will mean the Slope and Dumbo are near the top of the charts by the time we bid…
These are the priciest residential sales in Brooklyn so far this year, per public records. The Heights dominated the first six months of the year, but the record-breaking One Main condo sale and the Connelly mansion closing will mean the Slope and Dumbo are near the top of the charts by the time we bid 2008 goodbye.
1. BROOKLYN HEIGHTS $6,300,000
82 State Street GMAP (left)
Listed at $6,950,000, according to StreetEasy. 26-foot wide townhouse built circa 1850. Five stories with roof deck.
2. BROOKLYN HEIGHTS $4,500,000
42 Garden Place GMAP (right)
Four-story, two-family, 3,420-sf brownstone. StreetEasy shows the pricing history was thus: Listed for $4,950,000 in September; price reduced to $4,600,000 in December; went into contract in February. Deed recorded 4/29.
3. BROOKLYN HEIGHTS $4,400,000
152 Hicks Street GMAP
4,480-sf landmark townhouse; last sold in ’06 for $3.7 mil. Deal recorded on 2/1.
4. DUMBO $3,995,000
One Main Street, 9D GMAP
According to PropShark, this bad boy clocks in at 2,477 square feet. Deed recorded 6/5.
5. PARK SLOPE $3,600,000
536 1st Street GMAP
Originally listed at $3.2 million; 4,720-sf 1-fam. Deed recorded 2/19.
Photos from Property Shark.
Do you people love hysteria? Come now. Prices in the nicest houses in the most desirable neighborhoods may drop a bit, but they’re not going to fall off a cliff.
Until people all decide that the city of New York is no longer where they can fulfill their ambition, the city’s real estate market will remain vibrant. The most amazing comeback of all was staged in the 1970s, when everyone thought NYC was finished and white flight was at its height. Remember that? Everyone was moving to the suburbs, remember? How possibly did the city survive? It wasn’t a very attractive place, and yet, despite all odds, and really nasty amenities, the city survived, and thrived.
So sure, overpriced real estate in crappy areas is going to decline. The nutty excesses will be wrung out of the system, but that’s what the aftermath of a bubble is all about.
4-5 times the income of the Sheik of Dubai would be ???
I don’t know why so many people here tried to deny the What says (Although I don’t like his use of language). It seems that the What clearly understands the basics of Economics (better than I…).
Once the price becomes unsustainably high, those speculators will rush to withdraw the bidding war. Indeed, the housing price has been skyrocketed without income growth among majority of people (but supported by the wrong monetary policy), so it is like a time bomb of pyramid scheme… it is likely meant to collapse (not going to be just “correction” because of the bubble)… I don’t know how far the price decline continues, but the price will seemingly be back to the traditional level at least (4-5 times of average income in the neighborhood, and/or buyers).
In 2005, people told me that the real estate price goes up forever… I told them it is not going to happen… My friend looked at me like, “What are you kidding”…
Let’s see what is going to happen, since only the future will judge this agenda (within 10 years).
By the way I am a renter.
Hey Ya’ll! Remember those Condo listing at 145 Halsey St? Remember that Asshat Amy talking smack about not using a Broker and going FSBO? Well she started to use a Broker (Michael Corley) and I don’t think that work out. Plus remember when I was all over her ass and the Asshats got upset! Well Lookie here!
$399 Restored brownstone floor-thru condo – before we list w/ broker! (bed-stuy clinton hill crown hts border) (map)
http://newyork.craigslist.org/brk/rfs/741773265.html
Get a load of this crap: “before we list w/ broker!”
Amy you was with a Broker and you was trying to sell at 425K!
Here is the “Money Shot”!
“We spent the last two years restoring the building and sold two of the four units back in November – both sold on the first day of the open house and each at the asking price of $425″
” We are trying to decide if we want to sell the parlor floor to free up some funds for another project and thought we’d “test the waters.”
Yep Amy, test this! And you see why this will be a Depression, not a Recession but a Depression….
I hope the Asshats will not ever have access to capital again!
The What (Defining Moment)
Someday this war is gonna end…
brooklyn heights is full of houses for sale i am even seeing 4 sale signs popping up on stoops -what’s that about if not desperation? 4 sale signs on stoops?
i am not pessimistic by nature but even our billionaire mayor is warning about hard times. i think the down cycle has been delayed by an influx of euros to manhattan but when the cycle finally comes around -watch out!
The postings under the signon name “what” are probably NOT the true What. The writing style is not his. The age of the person writing under the name “what” is seemingly off by 15 years from the true What.
Oh, well. Whatever.
Yes, these prices are rather surprising seen all together. I’d like to see a list of the top 100 sales with the addresses.
There does seem to be quite a bit more inventory. At least it means that prospective buyers have to vie tooth and nail with each other. The feeding frenzy and the stress was getting bad.
FGG
I agree with The What and so does 10:04, 10:14, 10:15, 10:16, 11:20, 11:55, 12:45, 12:55, 1:11, 1:20 and 2:35. Granted, that’s probably about five of us total but there’s also probably a total of five of you (bulls). So lets say between 1 to 2 out of every 4 of us has some level of respect for The What’s opinion.
He’s come a long way since his first ‘Appocalypse Now’ excerpts. Better take heed.
Try not to get shot while selling drugs on Putnam and Grand this weekend, t’What.
Looking forward to January 21, 2009.
To the Asshat (Yes Asshat) Posted by: guest at July 3, 2008 1:46 PM. Please feel free at your own time to look back at my posts. As Harold Melvin and The Blue Notes said “If you don’t know me by now” “You will never know me”…
The What
Someday this war is gonna end..
BTW Hey Dave I see you have found your little Bitch Boy Biff!
Hiya Biff, how was the surgery? You be able to sit in a couple of weeks..