Sunday, June 23, 2013

Closings of Note: From Flagships to Short-Sales

Platinum Members landed one of the most stunning houses in Stuyvesant Heights.  Flagship properties like these trade at flagship prices.  242 Decatur Street listed for $1.8M and closed last week for $1.7M.

While you ponder the $1.7M sales happening in Bed-Stuy and Lefferts Garden right now, keep in mind that Prospect Heights gems like 166 Prospect Place were hard-pressed to justify over $2M just 5 years ago.  Now you just list that bad-boy for $2.895M and close for $3.3M last month.  We've been scoping out the next-best off-market cousin to this house for a while around the corner, who has every right to ask for $3M given activity like this.

We tried to tolja' about 184 Lefferts Place when it reappeared for $1M last year.  Then it came back out this year for wayyy less as a short sale, and just closed for $390K.  Sure, it's narrow, but you can't touch a condo for that price in Clinton Hill anymore!

Where can you get a townhouse for anywhere close to $400K that isn't an all-cash deal?  Over in Bushwick, 22 Weirfield Street sold for $438K.

Another on-again/off-again listing in Fort Greene finally fetches its price.  The narrow 13 St. Felix Street sold for $1.427M last month.  Took years to settle, and probably not what they have in mind when they e-mail us asking about turnkey Ft. Greene properties in the $1.5M range.

Why's it hard to find that $1.5M turnkey house in Fort Greene and Clinton Hill?  Well, over in Bed-Stuy a house on a great block like Hancock can command almost $1.5M now.  341 Hancock Street listed for $1.3M and sold for $1.333M last month.  If you missed 261 Hancock Street last year, this one at 341 was right up your alley.  Not quite as stunning, a bit further out, in a bit better condition, and a bit more money.

A 5-story in Bed-Stuy on a great block under $1.2M??  261 Jefferson Avenue was chopped into 9 studios, but had the size, location, and detail intact to make it a solid buy.  It sold for $1.14M last month.

When you wanna get in Clinton Hill under $1M, it ain't easy.  Take a narrow 2-Family in estate condition purchased all cash like 14 Monroe Street.  A great little pick-up on the Bed-Stuy border, especially at that pricepoint.


  1. RE 232 Decatur: nice interior but $1.7M for a house next to projects and a school? You can probably get something reasonable in Central or nice block in South Slope for that kind of scrilla.

    1. Really? Feel free to share anything this nice and this price that you see available in Central or South Slope. I'm sure the readers would love to check it out.

  2. What house are you looking at? 242 decatur is on a solid beautiful brownstone block.

  3. Apparently I glanced at the map on the listing and didn't realize it was pointing to the wrong address (pointing to Sumpter near Ralph ave) for some reason.

    Still... I'm pretty sure you can still get a sub $1.5M house in South Slope - probably not as large/nice but many more family-friendly amenities nearby.

  4. A house this big and full of beautiful original detail in Park Slope would run you between $3 - $5 million. A $1.5 million dollar home in Park Slope is either a condo or a shack. I would rather keep my money in my pocket; sit in my beautiful home on my beautiful block in bed stuy and eat at Peaches or Saraghina.

  5. Far from what I would call shacks, here are some decent 2-family townhouses on 11th st for around $1.5 million. Based on the crazy action we're seeing in places like Fort Greene and Bedstuy, this actually looks (gulp) sane!