Thursday, April 25, 2013

Closings of Note: Crown Heights Still Has Value?

When 834 Lincoln Place came out for $1.25M in Crown Heights, it sounded high to novice ears - even for a renovated piece off of Nostrand.  But that didn't stop crowds from lining up in the cold for a chance to see it, if only because... where's the next-best $1.25M in town?  Buyers from Williamsburg said, "Yes, please!" and took it down for $1.375M cash.  And if you've been looking around recently, for a finished 20' wide 4-story barrel front building... even that price is a relative value.  Who could foresee that a few of these would fetch north of $1.5M in Bed-Stuy by now?

We had the early lead on another Prospect Heights gems, near the Crown Heights edge.  613 Washington Avenue just closed for a cool $600K.

Further up the hill, a niftier mixed-use piece at 784 Washington Avenue fetched $1.2M all cash.  Can't wait to see who lands this neat commercial space.

Even little ol' 726A Union Street in Park Slope at 3-stories and 18' wide lists for $1.69M and closes for $1.6M.  Now an even smaller neighbor wants $1.3M.

285 Macon Street in Bed-Stuy didn't last long with a list price of $759K.  It closed for $785K last month.  This is a great look.  You say, "Over ask in Bed-Stuy again?"  We say, 4-stories of 20' wide brownstone on a great block for the price of a condo won't last forever.

Speaking of over ask in Bed-Stuy, brace yourself for this funky stone front off the Utica stop that listed for $749K.   346A Decatur Street sold for $799K.  Even 131 Decatur got $905K.  And just wait until you see what's next on Decatur.

Speaking of prices off of Utica, in Crown Heights 1459 Sterling Place listed for $475K and got $465K last month.

But who's the loveliest of them all??  Come to Crown Heights for the best limestone value in all of town.  257 New York Avenue closed for its asking price of $725K this month.  This gem lasted only a few days on the market.  A killer 3-family for the price of a condo?  The next one of these on this block wants $1M or more, and will get it easily.

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