This House Is Getting Cheap
This three-story house at 582 Lexington Avenue (at Lewis) just had its price reduced by $100,000 to $375,000. This ain’t the greatest block in Bed Stuy (there’s a long stretch of newish two-story homes just to the west) and we’ve got no idea what the interior is like but the house appears to be intact…
This three-story house at 582 Lexington Avenue (at Lewis) just had its price reduced by $100,000 to $375,000. This ain’t the greatest block in Bed Stuy (there’s a long stretch of newish two-story homes just to the west) and we’ve got no idea what the interior is like but the house appears to be intact and perfectly well cared for. Unfortunately for the seller, it was purchased two years ago for $595,000. How low can something like this go? GMAP
wasder…everything that BHO prints is bullshit. He and brickoven are here to point out to everyone that there is a far left side of the intelligence bell curve.
“Lower income folds first, wasder. Trust fund babies can afford to “hold on” and take their baths later. That’s why NYC and San Fran are the last to fall after all other cities. Same holds for individual ‘hoods within a city.”
This sounds like a bunch of straw grasping bullshit to me. And who are the trust fund babies to whom you refer?
“Why would Bed Stuy be a more accurate predictor of future prices in Clinton Hill than Fort Greene or Prospect Heights, ie other neighborhoods that share a border with Clinton Hill?”
Lower income folds first, wasder. Trust fund babies can afford to “hold on” and take their baths later. That’s why NYC and San Fran are the last to fall after all other cities. Same holds for individual ‘hoods within a city.
“What this building sold for in Bed Stuy in 1997 has absolutley nothing to do with how far it will fall. That’s some really bad logic.”
It has everything to do with 1997, a time of tighter lending standards and banks holding on to the hot potatoes. Excellent logic.
***Bid half off peak comps***
You can quote me on it.
Please explain your logic as to why 1997 prices are the target for the selloff. And’ don’t tell me I should explain why they are not.
“What this building sold for in Bed Stuy in 1997 has absolutley nothing to do with how far it will fall. That’s some really bad logic.” Quote from anon. during the great housing bubble
Would you mind if I turn this into a t-shirt?
What this building sold for in Bed Stuy in 1997 has absolutley nothing to do with how far it will fall. That’s some really bad logic.
Dave i hate to continue to educate you here but not only is this happening in BH but also in Tribeca, West village, Soho, Midtown, and almost every hood in Manhattan and many in Brooklyn. I did not say prices would go back to 1997 prices but it is a good ref. point in trying to figure out how low it could go. If the price of this building was anyplace near what you said it was in 1997 then it is likely to keep going down in value hard from this ask
Dave I already made my money in RE. My landlord just gave me 20 percent off for a new lease to renew with no questions asked. He offered 2 free months if i sign a 2 year, do you get it yet? housing glut
Posted by: brickoven at April 7, 2009 12:33 PM in response to This House Is Getting Cheap
That isn’t happening on “one of the top 5 brownstone blocks in the city.” Sorry but one of them is a lie.
If that’s true then you’re paying a ridiculous amount of money to rent. Foolish.
I suspect its not true though given what you showed today in your general knowledge about Brooklyn neighborhoods.