Tuesday, September 4, 2012

Closings of Note: Above Asking Price in the Heart of Bed-Stuy

This tiny single-family in Brooklyn Heights at 16 Hunts Lane came on the scene for $999K and fetches $885K last month.

53 Dean Street is a large 4-Family rental income property in Boerum Hill that's got "buy & hold" or "condo conversion" written all over it.  Listed as a package with 51 Dean forever at a combined $3.75M, then $4M, 53 Dean fetches $1.99M last month.  It will be interesting to see what happens, and to find out where 51 Dean goes.

152 Lafayette Avenue in Fort Greene fetches above its $3.05M asking price, closing for $3.1M last month.

360 4th Street in Park Slope is a huge single-family with a nice renovation and a great backyard.  Fetches $2.75M last month.

197 Prospect Place is a 2-Family on an extra-deep lot in Prospect Heights that sold for $2.35M.

A 4-Family in Carroll Gardens at 189 Sackett Street lists above $2.2M and manages to fetch $2M last month.

579 Bergen Street is an uninspiring 3-Family in Prospect Heights that listed for $1.195M last Winter and closed for $1.1M in June.

300 Greene Avenue is a 4-Family between Classon and Franklin on the edge of Clinton Hill and Bed-Stuy listed with Corcoran and gets $1.285M.

Just down the street, 316 Greene Avenue also listed with Corcoran for $1.25M.  We were told the 3-Family "does need updating although it has been freshly painted" - that's a nice touch.  We were also told, "Seller is only considering cash offers."  The house sold last month for $999K.

37 Brevoort Place was a nifty-but-narrow 2-Family on a nice block in the opening corner of Bed-Stuy.  Brown Harris brought it out for $945K, had a contract in 2 months, and sold for that price last month.

742 Franklin Avenue, mixed-use space in Crown Heights right by Franklin Park sells for $990K - which used to be Vanderbilt Avenue prices just last year!

Now in case you're keeping score at home, that's 4 Bed-Stuy/Crown Heights plays at or above $945K, including a $1.285M (that's nothing to write home about inside) and a fixer-upper for $999K cash.  Now get ready to move further east into the "heart of Bed-Stuy" and see the pricing there.   Today the NY Times reports simultaneously that "Nets will play in Brooklyn but will practice and live outside borough" AND that "Nets players may find Brooklyn a tempting place to live" and that "the average housing sale price is $612K" here.  While Nets player Joe Johnson will pay 10 times that amount in taxes this year, please don't be surprised to see townhomes in Bed-Stuy continue to trade at what is still mere condo pricing just 3 miles west.

466 Hancock Street was a 17'-wide quick renovation asking $629K pretty far east into Bed-Stuy for many people.  This 2-Family sold for $640K last month.

The same company listed 457 Lexington Avenue, also in the heart of Bed-Stuy for $599K.  It sold for $610K in July.

The 2-Family 783 Greene Avenue listed for $579K and fetches $614K last month.

Another 2-Family at 615 Decatur Street listed for $590K east in Bed-Stuy and sold for $570K last month.

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