Tuesday, July 29, 2014

Platinum Member Closing in Park Slope: 101 Park Place

Don't try this on your StreetEasy or your Corcoran.com, but Platinum Members just closed on a great house in Park Slope without a big fancy listing and without a broker.  Not everyone wants to pay 5-6% commission and have a line of folks around the block to get in their house.  And so this great liveable 4-story brownstone delivered vacant sells for a great price for buyer & seller.  101 Park Place has solid bones, some modern upgrades, and is poised to be taken to the next level...

When off-market SRO's two blocks away are going for over $2.8M, you know $2.6M is a great price for a totally live-able house like this.  Buyers coming in all-cash helped facilitate the deal.  And when you factor out the $100K+ commission a big broker would be looking for at these levels, buyer and seller can pass the savings on to themselves.  Just like another deal Platinum Members are closing 3 blocks away that we'll take a look at tomorrow.

Pro's:  totally turnkey 20' wide 4-story brownstone in prime Park Slope, no bidding war or big brokerage needed, solid deal for buyer and seller, fantastic end-user project in the making

Con's:  gone already, you don't find these everyday, took cash to get it done, renovating in the Slope is no joke these days

Ideally:  a great house at a great price in a no-brainer neighborhood?  Just another day in Brooklyn's under-market deals

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