Tuesday, March 5, 2013

Closings of Note: Value Off the Beaten Path

Over in Bed-Stuy, 296 Halsey Street - asking $920K, cruises to $980K.  These are the comps people were asking for 6 months ago when trying to evaluate this boom in Bed-Stuy.  Still one of the best looks under a million in all of Brooklyn.

As we've seen for a few weeks now, another northern Clinton Hill play trades at a value.  126 1/2 Washington Avenue sells for $850K. 

693 Union Street is a 25' wide 8-Family in Park Slope between 4th & 5th Avenues.  It sold for its asking price of $2M, a 5.4% cap.  Meanwhile, the next-best buy & hold multi-fam's in this price range in Park Slope and Clinton Hill haven't even hit the market yet.

 A smaller 5-Family in Windsor Terrace goes for $1.4M at 288 16th Street.

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