Thursday, August 2, 2012

Narrow & Above-Ask in Park Slope: 117 Berkeley Place

A turnkey 2-Family in north Park Slope lists for $1.9M, goes in contract in a month, and closes last month for $2.18M.  Can anyone say they're really surprised?  Sure, 117 Berkeley Place is less than 16' wide, some of its interior isn't everyone's taste, and who wants an upper-triplex that gives the rental an amazing yard?  But it also listed at the median price per square foot in Park Slope of $650/sqft, and good luck finding a condo this nice that's even $700/sqft in the Slope.  So what's another $280K on top of ask?

Mantles, parquet floors, sliding door out to the huge yard that's currently shared with a green-friendly neighbor:

Is the rest of its more pasty interior your taste?  Our guess is this goes single-family and gets some revived finishes.

Nothing special here.  Just another day in the life of the Brooklyn townhouse supply & demand story we've been calling for months.  This listing literally came out just a few days after we chided the NYTimes for pretending that crowded open houses in Brooklyn were news.  There's a difference between knowing the market, and being able to do something about it.  But at least knowing is half the battle.

Pro's:  curb appeal, location, deceptively-fair pricing, huge backyard

Con's:  narrow, not everyone's taste on some floors, whine PS 282 if you must, went quickly & above ask, why give the rental the awesome yard?

Ideally:  this will look like a steal compared to what another house on this block is about to list for

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