Tuesday, February 24, 2015

Closings of Note: Playing Catch Up, Pt. II

Low supply and high demand in Park Slope puts the best places consistently above $3M, even out on 9th Street.  457 9th Street is a beaut', and buyers from 5th Street close on it with some incredible financing for $3.51M around Thanksgiving.

Buyers from Fort Greene who told us their search radius was basically 4 blocks wide hopped across Atlantic to Boerum Hill to close on 441 State Street for $2.45M last month.  Just about $750K down for this generically updated house is still a relative bargain for this neighborhood.

Although with better details than State Street, even the generic renovations on the tweener blocks in Clinton Hill command $2.5M these days.  69 Lefferts Place closed last month for full asking price, to buyers from Manhattan with some $750K down.  22' wide is always nice.

579 Classon Avenue may not look like a $2M building to you, or us either, but it closed for $1.995M last month.  Clinton Hill/Bed-Stuy border prices have certainly made a leap.  Surprising (at the time) Platinum Member closings on this street from last year are starting to look like a straight-up deal.

A dead body found in the backyard in October couldn't stop Crown Heights' 657 St. Johns Place from selling.  Shopped to us as an off-market FSBO in May for $825K, the bidding war was on right away.  Closed for $925K last month.

Buyers from Prospect Heights closed on the cute, quirky frame house at 211 Fenimore Street last month for $1.235M with some $250K down.  30' wide lot with a driveway is the way to go sometimes.  Just ask one of the jewels of Crown Heights 669 St. Marks Avenue.

Buyers on the same block in Stuyvesant Heights pick up the estate sale at 169 Bainbridge Street last month for $1.45M.  Estate sales deep in Bed-Stuy commanding almost $1.5M?  It's happening, with just about $550K down.  Or, what the buyers paid for their other house on this block almost 10 years ago.

$882/sqft half-way to Bed-Stuy?!?!  Well, it's not the first time.  Don't look now, but 260 Greene Avenue, #3 sells for $1.374M last month.  Not bad for a 3BR duplex with a terrace.  Buyers from the UWS put over $300K down.  Brookland Capital is cashing in on their serious development bets all over brownstone Brooklyn.

With condo sales like that on this street, it's no wonder HomeCanvasr.com members from Prospect Heights hopped on the entire townhouse at 294 Gates Avenue, closing in December for $1.25M.

Over in Crown Heights, some Platinum Members hated on the generic renovation of 876 Sterling Place and opted to do their own reno on a house under $1M.  Didn't stop buyers from Park Slope from closing on Sterling last month for $1.225M with about $250K down.  And to think we were doing these same houses for under $800K just 2 years ago.

Another apartment on Biggie's old block goes up in the $700K+ range in Clinton Hill.  201 St. James Place, #3B closes for $735K to buyers from the same block.  Call this amenity-less walk-up "meh" if you want to, but $700/sqft with some $200K down a block from the train in prime Clinton Hill is just what the doctor ordered for many buyers.

On Platinum Member radar before it came out, this ratty little fixer-upper estate sale at 118A Washington Avenue had value written all over it and actually isn't as bad as it seems.  It closed for $1.075M around Thanksgiving to buyers nearby on Clinton Avenue.

We clowned the barely 14' wide 14 St. James Place years ago when it was by far not best of breed and couldn't get $1.75M to save its life.  In today's market, buyers from the West Village take down this single family just before Christmas for $2.144M with over $600K down.  If doesn't tell you how far this market's come, what will??

Deep, deep in Bed-Stuy between Howard & Ralph, 794 Halsey Street was a slow flip that they actually took the time to stage & style pretty well on the inside.  Nothing amazing, but certainly a step up from what these types of flippers are used to.  Maybe they figured they had to compensate for the exterior.  Buyers from Queens closed just before Christmas for $1.06M with some $400K down.

And so many more to come this week...

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