Friday, August 3, 2012

Tiny & Above-Ask in Park Slope: 365 6th Street

Do not adjust your wireless settings or your internet connection.  This is not a typo or a misprint.  If it feels like déjà vu all over again, that's because it is.  365 6th Street is a tiny 2-Family on a cute block in Park Slope that listed for $1.65M in the spring, went in contract in under a month, and closed last month for $1.875M.  If this size, location, list price, and sales price all seem almost indistinguishable from 352 4th Street, that's because they are.  Except 365 6th Street is a lot nicer and went for only a tiny bit more...

It's funny to think that Corcoran couldn't get $1.5M for this bad-boy in 2006 with a 6 month exclusive.  Back then, buyers could be picky about a 16' x 40'.  In this market, this 2-Family (used as a 1) had everything the Park Slope unicorn hunter could ask for.  While some were busy moaning that it's PS 39 instead of PS 321, the backyard and deck really had some bidders sold on the place...

And to think, this closed well above what some people were bidding for 4-story places like the far-superior 635 10th Street.  Still beats a Manhattan condo any day of the week.

Pro's:  turnkey, Park Slope value list price, original details, backyard and deck

Con's:  small, not PS 321, not going cheap, no time to waste

Ideally:  if you don't think this is worth a touch short of $1.9M, you're not alone.  But to the victor go the brownstones.

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