Monday, July 22, 2013

Closings of Note: The $3M's Don't Stop

87 St. Marks Avenue was another brilliant renovation that re-demonstrates that Prospect Heights isn't 'the poor man's Park Slope' anymore now by a longshot.  When you list for $3.095M and close for $3.295M after less than a month on the market, you know you're in business.

Or maybe you're more of the 206 Park Place type.  24' x 50' on a 162' lot?  This $4.3M sale sets a record for Prospect Heights, y'all.

And $3M+ Prospect Heights prices aren't just for end-users.  The 12-Fam buy & hold at 239 Prospect Place goes for $3.1M back in May.

Many salivated over 601 St. Marks Avenue in Crown Heights with its attractive pricepoint of $549K.  Well, guess what?  It closed for even less than that.  Final price was $485K, all-cash, with 4 tenants.  Please don't call this a comp unless you can play ball at this price sans financing and avec plenty of hair on the deal.  Still a noteworthy play on a great block.

1 Hanson Place, #23G is a condo on an upper floor in everyone's favorite Williamsburg Savings Bank turned Hanson Place condos.  It closed just above asking price, for $1.16M.  Yet another reason why it's hard to find a townhome that pays for itself with 20% down in Fort Greene (for those still living in denial for the past few years) when 2BR condos are trading near $1,000/sqft.

846 Greene Avenue may be further east than you wanted to go and not the prettiest brownstone on the block, but at $763K, it's also in budget.

445 Franklin Avenue is a small 3-Family in Bed-Stuy that closed last month for $995K, and already rentals are cookin'!  $1,700/month 1BR's in Bed-Stuy??  Get used to it.  Call it generic if you want, Corcoran calls it a "classic apartment."

Brownstoner asked if they'd get their price at 266 Clifton Place.  Renovated 3-stories around the corner from Poppa Bear himself?  Why not?  The house cruised to $1.6M, $75K below asking price.

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