Friday, April 6, 2012

Gone in 60 Seconds: 22 Sterling Place

Not even out an entire week, this North Slope 2-Family hit the ground running at $1.85M, and got swooped up so fast that Platinum Members never even got a chance to get inside. 22 Sterling Place is a 3-story, 20' x 40' brownstone. Nothing outstanding. But the piranhas are circling the Slope eager to devour anything you toss in the water. And why not? When mediocre 3BR condos want the same kind of price, shoot for the townhouse!

Blackberry pics will do when you're talking about a restored Victorian house with original details, A/C, washer/dry in each unit, a backyard, etc.

Park Slope, a victim of its own success. Wanna go to Gorilla Coffee around the corner? Ooops, nowhere to sit. That's 'cause it's good & great minds think alike. Similarly, everybody and their moms wants to be in Park Slope. Thus the dozens that sprung on this place, and only one will get it, leaving dozens salivating for the next one. Still wondering what's guiding prices over here? We had to laugh when Jay-Z said "prices are really high" in Brooklyn, because (A) he brags about "half a billie in the bankroll" and (B) he's contributed to the pricing as a part of moving the Nets to Brooklyn. Relative newcomer Drake now brags that he's "25 sittin' on $25 mill'", but is that even big by New York standards?

Wealth-X reported that New York ranks as the city in the US with the most "Ultra High Net Worth Individuals" with 7,270 folks sitting on $30M or more. That's almost 3,000 more ultra ballers than Los Angeles. Let's not lose sight of who we're living amongst here, folks, when a $700K condo and a $1.8M Park Slope townhouse sell really quickly. Definitely a case of "dog bites man", rather than the "man bites dog" some make it out to be.

Pro's: location, curb appeal, totally renovated, backyard

Con's: gone in a flash

Ideally: as for us, we'd shoot for 4-stories or more and do our own renovation. But this makes sense for a ton of buyers all day long.

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