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A reader has brought it to our attention that a number of North Slope homes have been snatched off the market pretty quickly. Here’s the rundown: 105 Lincoln hit the market in February for $3,695,000 and went into contract on March 18th. 104 Lincoln went on the market in February asking $2,390,000 and was in contract (after a price cut) later that month. 110 Berkeley, which was relisted with a price cut this February of $2,350,000, went into contract on March 16th. Phew! Heading a little farther south, 395 7th Street (not pictured) was asking $1,775,000 at the beginning of February and it went into contract by the end of the month. Spring sales fever comes to the Slope early?


What's Your Take? Leave a Comment

  1. Mckenzie, by your rarionale I guess manhattan must be a on the brink of destruction. Greenwich CT a putrid war zone. Thanks for the Bonfire reference, we all know fictional satire is real and movies come true. Go back to school, that is the source of all our problems right there.

  2. OK. we all know that affluent White folks are willing to pay through the nose to live in the few mostly-White neighborhoods of Brooklyn. Big woop! Four fancy houses sold to four rich White families. What about the rest of Brooklyn? The areas that Rob the Butterfly describe as “ghetto” with residents who knot up their curtains? Yes curtains, not drapes.
    Park Slope and Brooklyn Heights are not Brooklyn. In many ways they are not even America. They are the elite neighborhoods.
    We need to keep working on our infrastructure and our amenities and never lose sight of the middle class. We are losing the middle class. That is a bad thing. People who cannot afford million dollar houses will leave and then, who will fix your air conditioning system? Who will fix your car? Who will fix your bicycle?
    A Boro where the cheapest home is beyond the wildest dreams of middle class families is in deep trouble unless it is surrounded by solidly middle-class towns. In Brooklyn it is becoming super-rich and Welfare poor. That is not a good thing. The nearest middle class towns are on Staten island and Long Island.
    Read Bonfire of the Vanities. It is a good wake up call.

  3. There is robust demand for single family houses in decent shape. 110 Berkeley and perhaps even 104 Lincoln do not qualify as in decent shape, but for someone who has lost out on a higher priced house, both of these houses would be an opportunity to create your own high priced house. Both could be beautifully renovated for around 300-500K, which would still bring you in under 3M, and you don’t have to compete with buyers who have saved a 2M down payment.

    The buyer of 395 7th st probably made a miscalculation–in that instance, the house requires more work than you would at first think, and then, even after the work what do you have: a small house smushed up to an only adequately maintained co-op.

    421 12th st proves that demand for renovated houses will always be there. Watch for the close price; it will probably be much higher than the ask price. What does that tell you?

    And wasn’t there another HOTD on 6th street that went in to contract also very quickly?

    Market reports for areas like Brooklyn tell you nothing; properties are too diverse. So don’t believe the reports when they report declines or prices being flat, and just as importantly, don’t believe the reports when they say that prices are rising. There is no market report that can guide you when trying to buy in Brooklyn.