Last week we told you how $3 Million dollar houses keep trading in Brooklyn's most coveted neighborhoods. It's a phenomenon going on consistently for over a year now, as we covered not once, not twice, but three times last year. So it's no wonder $3M sales are still happening and that the next wave of product on the market or even just thinking about coming to market - everything from full-sized houses with sick original details, to fixer-uppers, to cashflow monsters - wants $3M, or certainly very close to it. 203 Prospect Place in Prospect Heights is a 20' wide 4-story in pretty nice condition with the extra-deep 131' lot that everyone loves on these blocks in Brooklyn...
It listed for just under $2M in 2007, to no avail. Asking $2.99M in 2012 and 2013, it closed for full asking price this March with a million down, to buyers from 5th Avenue in Manhattan. Hard to believe that 213 Prospect Place going way over asking price was such a shock back then.
Just 2 blocks away across Flatbush in Park Slope, 107 Park Place was even more of a stunner...
Asking $3.69M in 2012, it eventually closed for that price this March. No wonder Platinum Members are psyched to check out a house like this asking $3.6M off-market 2 blocks away, another asking $3.5M pre-market two blocks away, another pre-market asking $3.3M, plus 2 houses on this street for $3.1M on-market and off-market. These prices are bananas, no doubt, but it's all relative. No wonder developers are spying huge fixer-uppers on this street just under $3M. Even what feels - in Brooklyn terms - is "sky's the limit pricing", these are still steals compared to Manhattan for the caliber of townhouse you get.
A castle on the corner in Prospect Heights for $2.65M?!? Try $2.94M. 562 Bergen Street closed way over asking price this March to buyers from Brooklyn Heights. A million dollar down payment wouldn't even cut it on this house. Now, if you got $1.5M, "Throw it down, big man!"
For all it's depth, windows, and curb appeal, the house is narrow. So, while not the most epic proportions, certainly a flagship spot...
No extra-deep 131' lot, but still a quaint yard...
And what do you do when you sell your barely-16' wide castle for way over asking price? Well, the sellers turned around and got themselves a $3M+ condo a few blocks up the hill in Prospect Heights overlooking Grand Army Plaza and Prospect Park...
But back to the townhomes, over in Carroll Gardens...
288 Sackett Street was a ground-up new construction townhouse. It closed for $3.4M to a buyer from the Upper West Side.
Kinda generic, but so fresh & so clean. Nice yard, but then there's big development behind too. Didn't stop folks from Manhattan from putting over $2M down.
Tomorrow we'll take a closer look at how just over $2M became well over $4M in Park Slope...
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