Saturday, March 2, 2013

Closings of Note: Connect the Dots

If you've been sleeping on Clinton Hill, could this be your wake-up call?  56 Cambridge Place is a huge single-family fixer-upper that couldn't get $2.6M in the doldrums of 2009, but sold for asking price of $2.25M last month to buyers in a Newswalk condo.  Remind us why 102 Gates is going to go well over $1.5M again?  Oh yeah... now we remember!

Even on the border Clinton Hill at Bed-Stuy, there's value in a generic new construction 2-Family with a nice 22' x 50' floorplate on a 120' lot at 210 Gates Avenue.  It closed above asking price of $899K for $922K.  If you missed a few of these in Fort Greene 2 years ago, and this one last year, the next best one in this category is still available in prime Prospect Heights.

Whether you call it Windsor Terrace or South Slope, 459A Prospect Avenue was another no-brainer value play in the area as a 3-Family.  Even the 16' width couldn't stop it from easily fetching $1.15M last month.

Who needs exterior or interior photos when you've got a 2-Family in Windsor Terrace/South Slope under $1.5M?  561 16th Street sold last month for $1.325M.   Don't like the look of this exterior?  Get over yourself.  This is what you've gotta settle for if you wanna be on this side of the park in this price range.  Or go get yourself a mansion on the other side of the park, but some people would still rather flee towards the chemicals of the Gowanus canal than step foot on the east side of Prospect Park.

Case in point, even a discussion of chemicals in Gowanus didn't stop a little off-Carroll Gardens number like 71 3rd Street from fetching above asking price of $1.2M and selling for $1.225M last month.

Or hop over the other side of the highway to Greenwood where a 17'-wide 2-Family gets its asking price of $949K at 284 18th Street.

Is 671 Hancock Street "deep" in Bed-Stuy, out on the Stuyvesant Heights side?  Sure, is it a quick flip too?  Sure, is it still a killer value on a renovated 2-Family that sold above asking price for $770K last month?  Certainly!

A 2-Family that's less than 17' wide getting $2.5M?  Welcome to Park Slope.  Where have you been?  146 Berkeley Place was a FSBO that Brown Harris swooped up.  If you want 20' wide of here, people were paying that for a fixer-upper even last year on this block.

Or maybe you're more of the Cobble Hill type for this money.  Well, that'll be less than 14' wide and go over asking price of $2.46M to close for $2.6M, like 59 Strong Place.

If you think you're going to find a sweet renovated place under $800K west of Nostrand in Bed-Stuy or Crown Heights, who do you think really wants to sell you one when even 421 Decatur Street way out east sells for $789K last month as a quick-flip 3-family?

Crown Heights is the value-buy winner, though, for we don't know how many weeks in a row now.  901 St. Johns Place is a killer 12-Family limestone that listed for $1.15M and sold for $1.135M.  $200/sqft in Crown Heights??  Slam-dunk!

Fawncy 3-Family in Fort Greene?  That'll set you back $2M.  107 St. Felix Street closed for $1.95M.

No comments:

Post a Comment