Double dip with comps < than the False 2009 bottom

the "i caught a falling knife (anvil works too) thread"

4B has a 9 x 12 den, while 3B had a 12' 4" x 13' bedroom with good size closet.

4B has 1 bath, 3B had 1 1/2 baths.

Not sure if that's enough to make such a big price difference, but it's a factor.

In my pre-war building almost every apartment is different, there are no "lines", so comping is tricky.

> the "i caught a falling knife (anvil works too) thread"

lol

Can we call it "The TripDip"?

sledge - just pick every "marginal" area in the city, and you can easily prove your point. BedStuy next?

ph41, FYI, Manhattanites have paid, and continue to pay, large sums of money for real estate in these "marginal" areas of the city.

Right, cherry, but they have gone down the tubes way faster than established neighborhoods. It is what it is - marginal falls first .

The last to go is the penthouse with two terraces

actually columbiacounty, the last to go is the apartment with the window in the shower.

Ok ph41! I'll provide " marginal" 'cause my family have a "marginal" income, you provide what you see in the area you're looking. You'll see, after we have some substance added to this thread we'll be able to verify if your -marginal falls first- theory proves to be accurate.
It's sad because i've never been ashamed to be Middle Class until i read your post...

And there's CC - the crazy old coot- the newest SE resident troll

Hey CC - Spring is coming - there might actually be some people going up to the hinterlands. The good restaurants will be opening up soon - all three of them.
Shave your beard so you look presentable. After all, you are a crazy old coot - try to cover up!!!

How's Brooklyn?

And there he is again - the crazy old coot. I think he needs to have another scotch, go out on the porch, and HUNT THOSE RABBITS!!!

Tell us again about how you're a real new yorker.

Hey CC - you do know how pathetic you are? Especially with your wacko posts?

Why not just follow your good buds AR and West67th out the door? No one wants to hear from them anymore, and definitely no one wants to hear from you anymore.

But I so enjoy hearing your pretentious bullshit.

Hi...i'm penthouse lady.

I'm rich.

Not famous.

And not really that rich.

But I'm good at wanna being.

CC - crazy old coot . Sort of sad - but not really, because he truly is a crazy old coot. Gets his kicks from shooting rabbits (but of course that's why he's sort of nuts right now because the rabbits won't really come out until the spring. So, right now, he really doesn't have too much to do (because that's what happens when you move way up to the country). Maybe he'll get better in the summer, though I doubt it. He is just one nasty SOB

Hey CC - if you really want to have a little NY civilization, I think AR has an air mattress she can let you sleep on for a night.

Tell us more about your silverware

There he is again, the crazy old coot, the cranky curmudgeon. OK he's just a total SOB

But AR loves him, and will put him up on her air mattress in PCV,. And frankly, I think he needs a little civilization, (though there is not much civilization to be found there).

Hey CC- you're so frantic you're actually making me laugh out loud!!!

And you really have become the new SE resident troll. LOL!!!

I'm frantic?

You're the one posting over and over.

Who are you trying to convince?

Why don't you just leave CC greyed out? It would really save a lot of time for all of us.

ph, your endless, repetitive responses are far more irritating than any of CC's posts. If he irks you, ignore him. Gray him out. Anything. Just please--cease and desist.

150 Joralemon Street in BROOKLYN HEIGHTS
-08/03/2010 #9B sold for $430,000 2 beds 1 bath 807 ft²
-207 days on market > #11E on the market for $390,000 2 beds 1 bath and 1 half bath

Squid, jordyn,he is grayed out, and I usually do ignore him - but his endless trolling of me, for no reason, sometimes just irks me into responding.

Why don't you just ask CC to stop trolling me, Truth,Lucille and Huntersburg?

By the way Julia, if you were not such a Manhattan snob, you could buy a whole 1 bedroom in Brooklyn Heights for the money you want to spend for a studio in Manhattan. You're quality of life would also improve vastly but that, you wouldn't know until you move to Brooklyn.

columbiacounty just needs someone to talk to. have a heart. if you'll note, they're not defending him, they concede he's a troll, they're just saying ignore him out of the goodness of your heart. like you would ignore a raving homeless person.

btw, he trolls me because he thinks i'm the computer genius hfcomm troll who's eluded capture by the streeteasy web bounty hunters, as well as what ever efforts have been made to id him by certain dedicated parties who presumably have the ways and means to accomplish such things. the facts that i can't spell, can barely count and am obviously a bitchy girl and not a computer geek boy, apparently don't phase him.

No Lucille, IMHO he trolls you because you dared to argue with AR, his pet SE friend. Same with Truth and same with me. Though he definitely thinks Huntersburg is hfscmom1.

but a lot of people argue with ar, the ole gal tends to have that effect. i actually always liked and respected her and always assumed she knew that, i admire and look up to tough broads. not really sure what his deal is. weird.

Not perfect since condition of the units was quite different, but still illustrative...
The Alameda, 255 W 84th (& Broadway)
http://streeteasy.com/nyc/building/the-alameda-255-west-84-street-new_york

Recorded Sales

Date Unit Closing price Listing price Status Bedrooms Baths Sqft
02/03/2011 #11E $1,500,000 -11.5% $1,695,000 ↓Sold 2 beds 2.5 baths

10/21/2009 #9E $2,150,000 -13.8% $2,495,000 ↓ 2 beds 2.5 baths 1,800 ft²

To bring 11E up to the level of 9E, it might have taken the $650,000... but I doubt it.

Nice comp except that 9E didn't close. 9E didn't sell in 2009 because it was overpriced.

If I'm reading SE correctly, 9E did close although the notation within SE is odd.

http://streeteasy.com/nyc/closing/926080

right walter - just looked at that. SE just shows the closing for $2,150,000 in 10/09 with showing the listing associated with it.

And the condition - totally renovated vs. estate condition does make quite a difference in price.

sorry "without showing the listing associated with it"

And, if you consider that the Alameda apartments are supposed to be 1,800, and that a nice renovation would for 11E probably be at least $300/ft. and possibly more(based on postings on SE), you've just added at least $550,000(and possibly more) to the price of 11E, and then add in the non-$ cost of the aggravation/time/etc. etc. of renovating, and you're pretty close to the price for 9E.

ph41... for sure you are correct. Which is why I said the comparison was not perfect. Let's assume your $550k is close to correct, that would imply a nearly 5% fall since the 2009 first dip.

(though 11E wasn't in terrible shape, it needed a new kitchen and to freshen the baths but it wasn't a gut reno candidate)

Just been looking at property in Ft. Lauderdale - fully 50% down from the peak, right back to 2000 levels. Alas, given all the free money floating around right now the flippers are back - people buying at today's prices and then turning around & trying to sell them at yesterday's prices - but you can basically get a decent 2000 square foot house with a pool for around $350k.

Nice.

When the current heroin high of free money and $1500 an ounce gold comes crashing down upon us - sooner rather than later, I think, though I've been dead wrong for the past few months - more deals will be available.

And in terms of jobs, it's great to have a fake 8.8% unemployment rate b/c all of the good jobs created were at McDonald's, because that's the only food people can afford anymore, unless they start planting their own.

Luckily, Italian has been very busy this April.

http://streeteasy.com/nyc/sale/556325-condo-171-engert-avenue-greenpoint-brooklyn

171 Engert Ave #1 :
Sold for $729,000 on 09/23/2010

Back on the market almost immediately with an attempt at $749K. No taker so priced now at $729K.
So far this seller if losing seller fee and closing cost if he's lucky to find someone to pay his actual asking price.

It's free cone day at Ben&Jerry's.