Last Week's Biggest Sales
1. COBBLE HILL $3,050,000 197 Clinton Street GMAP When 197 Clinton was a HOTD asking $3,500,000, we said that “the house appears to be in lovely shape” and wondered if the Cobble Hill home could bring in more than $3M. That was back in 2007. The listing was pulled later that year and popped up…
1. COBBLE HILL $3,050,000
197 Clinton Street GMAP
When 197 Clinton was a HOTD asking $3,500,000, we said that “the house appears to be in lovely shape” and wondered if the Cobble Hill home could bring in more than $3M. That was back in 2007. The listing was pulled later that year and popped up again in May 2010, this time listed for $3.3M. It entered contract by December. The house is configured as an owners duplex plus two rentals. Entered into contract on 12/1/10; closed on 3/23/11; deed recorded on 4/7/2011.
2. PARK SLOPE $2,350,000
537 2nd Street GMAP
We were incredibly smitten with this four-story limestone at 537 2nd Street. The intricate details, the location, an extra grand parlor floor: it was all there. We guessed this home would nab its ask of $2,450,000. Came in pretty close!
Entered into contract on 1/26/11; closed on 3/22/2011; deed recorded on 4/6/2011.
3. BAY RIDGE $1,755,000
147 80th Street GMAP
We wish we could see a listing for this one; the Property Shark photo looks pretty nice. This Bay Ridge home is 2,644 square feet on a 4,920 square foot lot. Dunno what it was originally asking. Entered into contract on 11/1/2010; closed on 3/22/2011; deed recorded on 4/4/2011.
4. BOERUM HILL $1,670,000
237 Wyckoff Street GMAP
The sale at 237 Wyckoff caught out attention for a few reasons. First, it sold over ask. It was asking $1,495,000 when we featured it in January and we liked the house very much but noted its proximity to the Gowanus Houses. Second, this sale is reminiscent of a recent Boerum Hill sale at 476 Degraw. Similar location with an ask of $1,595,000 and a final price of $1,625,000. Entered into contract on 2/4/2011; closed on 3/23/2011; deed recorded on 4/7/2011.
5. WILLIAMSBURG $1,649,000
50 Bayard Street, #PH3 GMAP
This is the second penthouse unit at the Ikon Condos on our Biggest Sales list; we also featured this as a COTD November 2010. Here’s what we said then: “Say what you will about the overall building design but a full floor with wraparound windows with views over the park is pretty compelling. There’s about 2,400 square feet of interior space in addition to a couple of balconies; the apartment has been rented by the sponsor for the past year. Asking price: $1,700,000. Monthly common charges: $1,755.” Entered into contract on 2/9/2011; closed on 3/11/11; deed recorded on 4/11/11.
at what point do you change your thesis?
if you consistently underestimate the actual market value — as measured by what someone actually sells a ppty for — by 10 to 20%, then a rational person might adjust the model.
or not.
btw, i think the price is high and am surprised on this one; but it does speak to lack of decent inventory in whole house market at ths location AND the current state of the market (back to bubbly for at least past 6 months).
ok wasder. props to you. i missed your comment. i give you a tie for 2nd with Darren. oldtimer wins for specific number above ask (even tho still under actual market).
“everyone else: go back to your piss-poor appraising ways…”
dope–I said I thought it was a good deal.
maly–no matter how you slice it finding a nicely renovated house on any block in Boerum Hill at this price is hard to do.
Antidope, almost $1,000 psf for a super cute but small house in a so-so corner of Boerum Hill? If that’s the new appraisal standard, all average brownstones shall be at least $3,000,000.
you get 2nd pl prize Darren433.
oldtimer predicted above ask.
everyone else: go back to your piss-poor appraising ways…
When 237 Wyckoff was HOTD I said:
“This house looks like a steal. I don’t think people understand how desirable the Boerum Hill/Cobble Hill/Carroll Gardens area is, and how few affordable, move-in-condition houses there are in the area. I imagine this will be sold at or near ask within the next 2-4 weeks.”
Needless to say, the usual naysayers thought this house would languish on the market and never sell above $1.3.