Half-Stake in 370 Clinton Sells—For Half the Listing Price
This one just seems like a big ouch: 370 Clinton Street, the six-family house that a buyer plunked down $2,650,000 for last September, traded hands again for $1,325,000 in a deal recorded last week in public records. The House of the Day writeup on this in January went as follows: “A victim of the downturn?…
This one just seems like a big ouch: 370 Clinton Street, the six-family house that a buyer plunked down $2,650,000 for last September, traded hands again for $1,325,000 in a deal recorded last week in public records. The House of the Day writeup on this in January went as follows: “A victim of the downturn? Given the timing and circumstances of this new listing at 370 Clinton Street in Cobble Hill, it sounds like the seller is in trouble. She closed on the 6,000-square-foot house last September for $2,650,000 and in the last four months has gutted the interior and commissioned complete architectural drawings for a planned make-over. The plans are part of the package for anyone willing to come up with the asking price of $2,995,000. It is a pretty exciting opportunity for someone who wants to create a living space from scratch: great location, beautiful shell. The only question: Price.” Update: As pointed out by commenters below, it was a 50 percent interest in the house—and not the whole house—that sold for $1,325,000.
House of the Day: 370 Clinton Street [Brownstoner] GMAP
$100k on a 30/year is hardly insignificant.
The discrepance in buyers is irrefutable, but the bearing of funds in the 2-3 million dollar range is also quite real.
Blind diatribe is droll and nothing more.
Long live Brookyn- Fok a brownstone.
> Nice Howard Dean-style ending there, chfe.
I’m thinking the whole post reads more like Howard Cosell.
Nice Howard Dean-style ending there, chfe.
So for the end of the world adepts in the crowd, NO the sky is not falling. Haven’t you paid attention recently? Brownstones in the top hoods like BH, CH or PS are still going for very reasonable prices. Yes brownstones, not cheapy new construction 1 or 2 BR. You see, real estate is complicated. You can’t compare apples with oranges. Brownstones buyers are very different from appartment buyers and people ready to lay down $2 or $3mil on the table are also very different buyers than people trying to wait for ever to save $100k or $200k which is marginal on a 30-year mortgage.
LONG LIVE TO THE TRUE BROWNSTONES OF BROOKLYN !
YEAH !
Nice bait and switch for the BHO crowd.
I heard SJP and MB bought a 50% stake in this house.
“Always helps to check the data before jumping the gun.”
Worth repeating, as accuracy is always preferable to speed.
Brownstoner, look at page 4. I think this would result in a 25% stake for the the buyers not a 50%.
What’s all this I hear about wasting national racehorses? . . .
. . . . Whats’ that? Oh, that’s different. Never mind.
Always helps to check the data before jumping the gun.