Last Week's Biggest Sales
1. PARK SLOPE $3,525,000 556 1st Street GMAP (left) This 5-bedroom house was listed for $3,750,000 in November, according to StreetEasy. The listing had the following to say: “Elegant mint 21’+/- Park Slope Brownstone updated with all the modern conveniences. Built in 1910 the original details have been restored to perfection. Enter up steps to…
1. PARK SLOPE $3,525,000
556 1st Street GMAP (left)
This 5-bedroom house was listed for $3,750,000 in November, according to StreetEasy. The listing had the following to say: “Elegant mint 21’+/- Park Slope Brownstone updated with all the modern conveniences. Built in 1910 the original details have been restored to perfection. Enter up steps to the open parlor through a small vestibule lined with mahogany wainscoting. There is a spacious living room with a 3 window bay in the front, a beautiful carved mahogany gas burning fireplace, and an impressive center staircase.” Entered into contract on 3/25/09; closed on 6/25/09; deed recorded on 7/17/09.
2. BAY RIDGE $2,525,000
72 80th Street GMAP (right)
This is a 3,488-sf, single-family, according to Property Shark. Entered into contract on 4/1/09; closed on 7/1/09; deed recorded on 7/17/09.
3. PARK SLOPE $2,275,000
586 4th Street GMAP
A year ago, when this was a House of the Day, it was asking $2,999,999; by the time it was an Open House Pick in January, the price was $2,599,999. Its listing said the following: “Located just one door in from Prospect Park, this gracious home was built in 1909 by the street’s builder as his own home. It’s the largest, most generously proportioned and richly detailed townhouse on the block! The current owners, only the second owners to occupy this home in 99 years, painstakingly preserved period details throughout the entire house from intricate parquet bordered floors to artisan quality plaster crown moldings. With rare 20’x55′ dimensions, this house boasts three exposures and a large south-facing garden.” Entered into contract on 4/22/09; closed on 6/16/09; deed recorded on 7/14/09.
4. BROOKLYN HEIGHTS $1,934,675
One Brooklyn Bridge Park/360 Furman St, Unit 1218 GMAP
Size unknown. Entered into contract on 7/30/08; closed on 7/9/09; deed recorded on 7/15/09.
5. PARK SLOPE $1,810,000
462A 8th Street GMAP
This townhouse was first listed for $2,396,000 in March, according to StreetEasy, and was last asking $2,050,000 in late April. Entered into contract on 6/18/09; closed on 6/30/09; deed recorded on 7/16/09.
Pics from Property Shark.
I’m not sure why anyone thought desirable hoods wouldn’t suffer.
That being said, I think that PS is suffering a whole lot less than less desirable neighborhoods.
The inventory in PS right is absolutely scarce. And if you look at streeteasy, a TON of apartments sold this spring, albeit at lower prices.
Gosh I hadn’t realized until now how sick I am of talking about home prices. Who cares anymore really unless you’re buying or selling?!?
We’re already at mid-2005, according to Elliman last week, right? That’s with 20 percent down YOY across the board.
My immediate thoughts on the Bay Ridge house: “Say hello to my little friend!”
***Bid half off peak comps***
Hey, look what Biff said about 4th St. back in the day:
“Very nice place and amazing location. And I would prefer to be slightly off PPW, as this home is, as opposed to on PPW. If this goes for well under $3MM, I think that’ll be a strong indication that even the most desirable ‘hoods in Brooklyn are suffering.
Posted by: Biff Champion at July 21, 2008 1:54 PM”
So desirable hoods are suffering!?
M4L – if you don’t need a mansion on the park (so, let’s say a decent 3 story below 7 ave), I think buying a house in Park Slope for 1mil is no longer out of the question in the near future. Remember, grand 4 story 20 footers on those blocks were going for 1 mil as recently as 2001-02 (even 2003), before the crazy run-up, and now things are certainly heading back down to 2004, and maybe even lower?
The 1st Street house is quite lovely–pristine parquet floors and loads of original details. And it’s 1st Street between PPW and 8th which is once of the nicest blocks in PS.
g10, I’m not a snob but rather a massive bargain hunter. that price for something around 15th st would not be juicy enough. Besides, I would love to be in position to tell someone I bought a decent house in park slope for <$1M (not to brag but to have them think “f’ing lucky bastard”)
I know, MM.
I was just playin’ with you.
I’m just happy to see lots of these houses which sat for a while finally sell. At whatever price they got.
11217 you know I told you no such thing. There are delusional sellers (asking way too much) and delusional buyers (expecting a brownstone for 50 cents). I’m not in the latter category. Our own budget is over a million so it’s not a shocker that a gorgeous, large, sunny park block limestone cleared 2 mil. That said, it is encouraging to patient buyers that such a place dropped over 600K from ask in a few short months. Likewise, I saw the 8th Street house, which was in gorgeous, move-in ready condition on a fabulous block. That too dropped 600K from ask pretty quickly. 1st street seems the anamoly (lucky sellers), but these sales, once again show the downward trajectory of the market, where the prospect of a nice house, even in a prime hood, to be had for well under $2mil is certainly possible – especially since prices will only fall further now that the spring buying season is past us. Sellers should take note, and price accordingly.