Wednesday, May 9, 2012

Surprise, Surprise: 473 Sackett Street

Well-above asking price for a sparkling-nice house with a Corcoran listing on the Gowanus-y end of Carroll Gardens? In 2012?? Get out!

Yeah, 473 Sackett Street came out for $1.695M for just a few days in January, went away, and came back for only a few weeks more. It closed last month for $1.825M. Even in the market doldrums of late 2010 - early 2011, something as simple as 476 Degraw Street was able to close above its asking price of $1.6M. So it was no surprise to see a sleek, modern 2-Family with a yard in this market fetch more. While some were busy whining about location and price, others were sinking their teeth into the great pictures of this simple, stylish renovation...

They went with central A/C, restored the Carrera marble wood-burning fireplaces, wide-plank floors, sky-lights, modern appliances, and restored the old-school moldings. That's how you blend old & new-school, baby! An SRO shell for $1.49M like 272 Dean Street should have to write a written apology if this is what $1.8M gets you just down the street. This is just another notch on the belt for where this market is, and how far off the $1.5M BoCoCa & Park Slope buyers really are.

Pro's: tasteful modern renovation, kept the mantles, backyard, deck over the yard, well-presented listing

Con's: didn't last long, went above asking, kvetch about Gowanus if you must, not on everyone's favorite end of this neighborhood (but it would probably be pushing $2M if it were a block or two over)

Ideally: finished products that are marketed well sure get a premium. If ya can't beat 'em, join 'em.

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