Thursday, July 3, 2014

Closings of Note: Big Boy Closings

A few big boy closings throughout Brooklyn to catch up on this week, including Bed-Stuy's 96 Quincy Street which becomes the first 3-story house in the neighborhood to list for just under $2M and fetch $2.25M.  This house joins 22 Arlington and 196 Hancock Street at the top of townhome pricing in all of Bed-Stuy.

Are the bidding wars over $2M that far east surprising you?  You should see the bidding wars in more prime Brooklyn neighborhoods these days.  252 Carlton Avenue cleaned up nice in pics, needed work, had a packed open house and dozens of offers, including multiple cash offers over asking price.  Listed for $2.595M, closed for $3.2M.  But this Fort Greene gem isn't the only place where $3M homes are happening in Brooklyn.  In fact every major brownstone Brooklyn neighborhood besides Lefferts, Crown Heights, and Bed-Stuy have had at lease one house go for over $3M in the past few weeks.

We were surprised when we heard rumors that Brooklyn Heights' 25 Pierrepont Street was having trouble fetching anywhere close to its asking price of $3.4M.  But then it just closed for $3.6M - so, there's that.  6,000+ square foot corner 9-Family building with mostly free market tenants.  The cap rate is lower than 4, but the asset is pretty darn prime.

Speaking of corner properties in Brooklyn Heights over asking price, the 25' wide 15 Willow Street came out for $4.25M and closed for $4.81M last month.

Speaking of 25' wide in Brooklyn Heights, 19 Monroe Place listed for over $7M and closed for $6.825M.

25' wide just down the street at 44 Monroe Place goes for $5.75M to buyers from the Upper East Side.

And don't forget Brooklyn Heights' over-sized 33 Garden Place for $3.75M!

Asking as much as $4.35M back in 2010, Park Slope's 8 Polhemus Place finally dropped to an asking price of $3.5M and closed for $3.65M.  The high-end single family market is no joke.  We've got our eyes on 2 stunning pre-market houses in Prospect Heights and another in Park Slope in this price range.

Carroll Gardens' 539 Clinton Street will not wow you with curb appeal, but the inside is way sleek.  This 3-story single-family listed for $2.9M and sold for $3.06M.  New construction getting the job done, even down by the BQE.  Just like the new construction at 289 Union Street getting just about $4M.

Even 18-footers can get over $3M and over asking price in Carroll Gardens.  170 Carroll Street listed for $3.3M and sold for $3.75M.

A buyer from Billyburg takes down Fort Greene's 179 Dekalb Avenue for $3.75M.  Asking price was $3.5M.  It is not a game right now on the high-end in Brooklyn.

This carriage house in Clinton Hill at 187 Vanderbilt Avenue, albeit north, goes for $2.92M, just under asking price.

No wonder we told the people chasing fixer-uppers on Lincoln around $2M off-market that the sky's the limit on the that block.  Look who's getting over $4M now!  105 Lincoln Place in Park Slope goes for $4.375M.

A three-story in Park Slope for over $3M?  That's 407 2nd Street which closed for $3.125M to buyers from the Upper West Side.

Brooklyn Heights' 36 Schermerhorn Street went for $3.175M to buyers from the West Village.

And don't forget Brooklyn Heights' 104 Willow Street which sold just under asking price, but still over $10M last month, to buyers from around the corner.  No wonder homeowners in Brooklyn Heights and Cobble Hill are already hitting us up on with leads on homes available pre-market from $3M-$10M.  If we had a home in this neighborhood, we'd wanna test the market with it too.

With Brooklyn Heights sales like those, no wonder some buyers from Brooklyn Heights are fleeing to the comfortable, relative-value confines of Park Slope, where 393 Union Street sold for $2.6M.

Fort Greene's 190 Washington Park got $3.45M without even hitting the open market.

Boerum Hill's 244 Bergen Street will remind you of the shocking-at-the-time $4M sale for Jenna Lyons' house in Park Slope.  So it's no wonder it closes for $4.1M in this market.

Even heading towards Crown Heights, Prospect Heights' barrel-front gem at 393 Sterling Place closes for $3.325M to buyers from around the corner.

Even the most generic houses on the edge of Crown Heights and Prospect Heights command over $1.5M these days.  We scoffed at the asking price on 848 Bergen Street at $1.8M, when it had closed a few months earlier for a million.  But the listing broker told us it was the only turnkey multi-family in its class near Prospect Heights, and closed it for $1.6M last month.  Buyers from a ballin' part of Bergen County, New Jersey took it down.  We looked to Fort Greene's 460 Carlton as an even better valued version of this.

Billed as a potential development site, this house at 272 Hawthorne Street in Lefferts Garden closed for $1.1M last month after asking $1.45M with Corcoran.

Back in Park Slope, this huge corner 8-Family at 343 6th Avenue goes for just over $5M.  Not bad for "an off market transaction in which only two buyers were called."

Another 3-story in Park Slope for over $3M?  34 Park Place goes for $3.15M.

Boy, it seems like just yesterday that jokers were trying to tell us the King Kong Clinton Hill 8-Family at 234 St. James Place wasn't worth $1.3M-$1.5M.  Now its neighbor 205 St. James Place closes for $3.95M at the end of May.

1 comment:

  1. The house at 33 Garden Place obviously was not a true market transaction. A 5600 sf 5-story house on Garden Place would not go that cheaply. It sold in 2003 for $3 mln. It's true worth is closer to $6 mln than the recent "sale" of $3.75 mln.