Tuesday, November 13, 2012

Closings of Note: Price Drops on Mostly Subpar Product

The skinny, extraordinarily "meh" 725 President Street in Park Slope was another shot across the bow for super-high price points in Park Slope when it listed last year for the odd price $1.783M.  It took a long time for the price to drop in line with market and close for $1.45M last month.

A sweet 3-story 1-Family in Prospect Lefferts Garden like 151 Rutland Road is a great alternative to South Slope at $1.195M.  It closed last month for an even better $997K.

A similar price drop went down for a 3-story gut reno 2-Fam in prime Carroll Gardens at 32 2nd Street.  On Platinum Member radar since day 1, this was less than many were expecting for the price, or too far south for others, but someone looking for over a year pulled the trigger.  It listed for $1.199M, lasted barely a week on the market, and closed last month for $997K.  A great buy, and way better than some neighbors...

49 2nd Place is a 3-story Carroll Gardens fixer-upper that came out for $1.9M.  Corcoran ushered all the ballers through the home and it closed for $1.81M last month.  On just a 65' lot, this is some aggressive pricing.

The estate sale at 1077 Dean Street in Crown Heights was great bones on a great block at a great price.  It took a while, as estate sales do, but closed for $700K last month.

Meanwhile for $710K, this funky semi-attached 4-story 3-Family at 628 Greene Avenue in Bed-Stuy closed in September.

They clamored for the comps in Bed-Stuy, and we said they were on their way (and not to be waited for).  196 Macdonough Street spent about a month on the market at $925K and sold for $950K last month.

453 Decatur Street in Bed-Stuy is only 18' x 35', but a Victorian house with a driveway.  It got its full $599K asking price last month.

8 Garden Place is over 7,000 sqft in Brooklyn Heights, chopped into over a dozen apartments, asking $3.85M in an open listing last winter.  They finally closed for $3.35M last month.

Oh, and don't look now, but a non-brownstone era brick 2-Family in Brownsville at 2427 Dean Street, on an odd block, just closed for $626K.  That's Brownsville, people!  Don't be surprised when it becomes impossible to find that pricing in deep Bed-Stuy if it's already poking into Brownsville.

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