Schaefer Landing North

fredd,

Good question and the effect a short sale has on an overall neighborhood?

where do you see a short sale?

9E?

10/30/2006 Previous Sale recorded for $753,505.
08/26/2008 Listed in StreetEasy by Prudential Elliman at $765,000.
12/05/2008 Delisted temporarily.
01/07/2009 Re-listed by Prudential Elliman.
01/07/2009 Price decreased by 7% to $715,000.
02/07/2009 Price decreased by 6% to $675,000.
02/19/2009 Listing is no longer available.
03/06/2009 Listing entered contract.
04/20/2009 Sale recorded for $660,000.
04/29/2009 Listing sold.

aboutready

was thast in 440 or 446 kent?

440.

Thanks!

why do you think thats a short sale? I just think this building is being priced at 500 PSFT. Look at some of the other listings, am i missing something?

it may or may not be. but it has the ingredients for it. i'm too lazy to learn the ACRIS system, so i don't know if the sale covered the total debt.

According to ACRIS 9E was not a short sale but is appears to be the only unit that the OP could mean.
Perhaps the OP does not know the definition of a short sale.

perhaps people are just not used to prices going down. This building is selling at 500 PSFT

thanks divvie. i really need to master ACRIS.

Reading through this thread no one answered the OP question.

price is really much more important to a building than whether it is a short sale. short sales are interesting in our market because they are essentially like foreclosures. the bank takes what it can get on a loan.

AR,

Is there stats pertaining to SS?

Unit 20A initially purchased in 2006 for 1.21 mil
just resold in jan 2010 for $750k
that is a scary loss
why would anyone buy new construction at these still bloated prices?

http://brooklyn.blockshopper.com/sales/developments/105968-schaefer-landing-north/property/3021341308/440_kent_avenue_unit_20a/135183

has anyone ever used that site before?...looks useful actually...lists all the sales of this building in one place for example...

Thanks for the find Jim.
Interesting to see that the seller is a RE broker. Talk about a loss! $460.000 !!!!
I wonder how many broker lost all that easy income made during the boom on a single or several RE investment.

They got caught at their own game of buy now or be priced out foverer! Ahahaha!
Karma is a bitch!

http://brooklyn.blockshopper.com/news/story/200056287-Realtor_dishes_Brooklyn_condo

I missed that little article at first. Yikes -- such a loss. It's one thing if it's one year's bonus, but I don't think that is the case. But, at this point, I wonder why they sold. Fear of further declines I suppose.

Owner of 20A also bought 20B for $1.4MM in 2006. I believe they may also own a 3rd apt in the same building but the unit number escapes me...

http://brooklyn.blockshopper.com/sales/developments/105968-schaefer-landing-north/property/3021341309/440_kent_avenue_unit_20b/135131

Wow. I noticed that the site (which I really like..useful site) lists their neighbors as what look to be russian names, perhaps foreign buyers. Anyway, these people have really paid for being "investors"

I currently own and live in Manhattan and I am thinking of buying a 2 bed 2 bath in the C line.

Does anyone know if the C line is a good line to buy in?

How is the commute into downtown?

Also I am concearned that the in 440 Kent Ave, or the North tower the views will be blocked in the future. The 6th floor bearly clears the adjoining building?
Any and all comments welcomed.
A potential purchaser.
THANK YOU