Tuesday, December 18, 2012

Closings of Note: Crown Heights Takes the Crown

It wasn't but 6 months ago when we told ya' that "Crown Heights winners don't last."  This week's sweetest closing is hands-down the beauty at 1259 Dean Street.  When you want 4 stories of original details around a million dollars, look no further than Crown Heights.  This gem closed for $1.05M.

On the investment side, the winner this week is another Crown Heights gem that Platinum Members had the early leg-up on for months.  798 St. Johns Place is an 8-Family limestone weighing in at almost 10,000 sqft that was better than a 7.5%-cap, especially when it dropped from $1.3M to $1.2M.  The next-best thing for those who missed the boat on one of the best buys in the past 5 years in all of Brooklyn, 234 St. James Place.  Small and large players alike hemmed and hawed about the play, until someone else stepped in firm at $1.5M cash and solidified the deal at 798 St. Johns.

Over in Boerum Hill, a huge 4-Family in okay condition at 87 Douglass Street asking $2.3M fetched $1.94M.  What it lacked in interior, it made up for with 25' width.

Nearby, the restoration beauty at 359 Pacific Street weighed in at less than 17' wide, as Brownstoner pointed out.  It listed for $2.275M and closed for $2.3M  

In a less residential-feeling stretch to some, there are a bunch of townhomes in a row in a snazzy development on State Street.  287 State Street was talking $2.5M once upon a time before the crash.  So it's all affordable now after the crash, right?  Nah... listed for $3.4M and just sold for $3.3M to a buyer from the East Village.

In Fort Greene, 3-stories of modern interior at 341 Adelphi Street asking $2.495M fetches $2.6M.

On the edge of Prospect Heights and Crown Heights another mixed-use property goes for a price some were reluctant to pay on prime Vanderbilt Avenue as recently as this spring.  776 Washington Avenue sells for $950K.

On the edge of Clinton Hill and Bed-Stuy, a quick-flip renovation single-family at 109 Clifton Place closes for $920K.  A killer condo alternative purchase, while many were griping about comps and finishes.

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