Tuesday, April 2, 2013

Closings of Note: Manhattan Buyers Descend on Brooklyn

It didn't take too long for 620 3rd Street in Park Slope to list for $3.35M and fetch $3M.  But Park Slope isn't the only place commanding $3M or more in Brooklyn...

We wouldn't file it under "Manhattan Transfers", but 32 South Portland in Fort Greene sells for $3.75M to buyers from Manhattan and breaks a neighborhood record, by some accounts.  Doesn't stop people from e-mailing us begging for houses in this neighb' under $1M, but it takes all kinds.

While many are still trying to plunder Park Slope proper for that elusive $1.5M gem, a Windsor Terrace beauty (at least on the inside) at 538 16th Street lists with Corcoran for $1.65M and sells for $1.7M.  Reports of a bidding war around the $999K mark in 2008 were a little premature, as it closed for just $840K in 2009 - probably a result of the economic crash.  Nowadays for a finished product this close to the park, even if it's only 17' x 38', you can expect to pay a pretty penny higher.  $900+/sqft??  It's not just for Brooklyn Heights anymore, people.

Speaking of Manhattan buyers, 305A President Street in Carroll Gardens was a 5-story, 18' wide "Bring you're contractor/architect" special asking $2.4M.  It sold for $2.38M.  This is what passes for "price flexibility" in this market.

Speaking of Manhattan buyers, 96 St. Marks Avenue sells another one of its condos in prime Prospect Heights for $835K.  Nevermind that you could've copped this entire building just a few years ago for $999K.  Since this is what condos sell for over here now, maybe this is why you can't find a multi-family townhouse over here for this price anymore.  But they don't hear us, though.

Another prime Park Slope property takes a rounding error discount off its asking price of $3.8M.  43 8th Avenue sells for $3.78M.

If you didn't wanna hear that Park Slope has little-to-nothing to offer in the $1.5M category (especially when it comes to openly marketed & mortgageable property) then you really don't wanna hear that Stuyvesant Heights properties are pushing that number now.  286 Macon Street couldn't get $950K last year, but sells last month for $1.475M

If you wanna get a deal, you've gotta dig deep.  And prepare to flex cash and spend more on renovation.  435A Classon Ave listed for $349K and sold for $355K.  But this 15' wide place sure won't win any beauty contests.

Over in Crown Heights, Nostrand is teaming with opportunity, though some will still tell you it's too far.  852 St. Johns Place listed for $850K and sold for $797K.

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