What the Heck Is Going On in Carroll Gardens?
This is getting weird. Despite a softening market all around, there’s been a rash of new listings in Carroll Gardens that have defied all logic and precedent. Starting with 44 1st Place (which in retrospect is probably the best deal of the lot) for $3,842,500, they’ve just kept coming: A 3,100-square-foot house at 78 3rd…
This is getting weird. Despite a softening market all around, there’s been a rash of new listings in Carroll Gardens that have defied all logic and precedent. Starting with 44 1st Place (which in retrospect is probably the best deal of the lot) for $3,842,500, they’ve just kept coming: A 3,100-square-foot house at 78 3rd Place for $3,495,000? A 16-foot-wide one at 40 2nd Place for $2,800,000? And now a three-story house at 329 President Street for a $3,600,000? What is going on here? One common denominator: Corcoran is the listing agent on all these places except for 1st Place. Coincidence or conspiracy?
329 President Street [Corcoran] GMAP
HOTD: 40 2nd Place [Brownstoner]
HOTD: 78 3rd Place [Brownstoner]
HOTD: 44 1st Place [Brownstoner]
Darn tootin’ Brenda from Flatbush… “price fixing” !!!
these listings are not kosher…something’s up.
The odd thing from Corcoran’s perspective is that these listings ruin their (already diminished) credibility everywhere else. I’m in the market to upgrade to a townhouse (looking in CG and Park Slope) myself, and I’ve always viewed Corcoran listings as generally overpriced. But these are so outlandish that now I no longer view their Brokers’ babble about Brooklyn property values as good faith efforts to make a sale -I assume they are blatantly LYING.
I really like CG but I do find these prices quite extraordinarily high. I can only assume that brokers are trying to wring the last ounce of commission out of buyers before the predicted real estate crash. I don’t believe, however, that any of these houses will sell for the asking and I would expect several price cuts in the near future.
I thik everyone including developers, sellers and buyers should refuse to list with corcoran and have them investigated by some sort of standards board.
I’ve talked to a few people about this, and quite honestly, all of these listings and all the hype I hear about is Carroll Gardens on this site is ridiculous (mostly absurd…RISE of Smith Street?? It rose about 10 years ago…now it’s DECLINING in my opinion. McDonalds and Starbucks does not indicate a rise in my book!!!).
I’ve always liked CG, but all this crap is starting to make me sour on the place. I was there the other night at Angry Wade’s andI just don’t like the people over there. The bar was FILLED with 16 year old old jersey girls. It was gross.
I MUCH prefer 5th Avenue in Park Slope.
It’s now got all the same stores as Smith Street anyway, except without the Starbucks and American Apparel.
Totally agreed it’s price-fixing.
So, if I have $3+ million to spend on a house, tell me WHY I’d SPEND SUBSTANTIALLY MORE on a short and skinny house with an ugly suburban-guido renovation like 329 President Street, when I can get the Corcoran listings at Dean Street or Adelphi that are wide, 5-stories, and perfectly renovated (and $3.25 and $2.995 respectively). That’s why I think these Carroll Gardens listings are bogus, bogus, bogus. They’re not based on comps or history or anything remotely rational. And they’re FUGLY!!
Links to Dean and Adelphi:
http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=1170956&ohDat=2/3/2008%2012:00:00%20AM;
http://corcoran.com/property/listing.aspx?Region=NYC&ListingID=1169108&ohDat=2/3/2008%2012:00:00%20AM;
10:56 = Broker
“I’ve never seen so many young hipsters renting in the neighborhood as I have in the last year”
comments like that give it away EVERY time.