40 Joralemon Sells for Close to Asking… Is the Depression Over?

Brownstoner who like Dr. Doolittle apparently is able to “talk to the animals” posted this tidbit today:

Brownstoner: This hasn’t hit public records yet but a little birdie just told us that the house at 40 Joralemon Street, which had hit the market originally with Corcoran in 2008 asking $2,790,000 and then with Brown Harris Stevens last September with a price tag of $2,300,000, closed last week for $2,250,000; the listing has been removed from the BHS website.

Does this mean the economy is coming back?

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  • http://www.willowtown.org Seth Murphy

    This means there is someone with money to burn, and they simply could not wait for prices to drop to what they are really worth. A game of chicken won by the real estate market. To me the price defies logic, but then again we are talking NYC real estate here.

  • http://www.alternet.org ABC

    Nice, but it will be even nicer when/if ordinary, working-class people can afford to buy small houses like this again someday.

    (What would a house like this have gone for in the 1960s? About $20 grand or so?)

  • ABC

    hey– I’m the originally ABC!

    I only post bcs I don’t agree with you. There are things people who make a lot of money can buy that working class families cannot. There are things working class people can buy that poor people cannot. And on. The day working class families can buy single family homes in one of the richest neighborhoods in one of the richest cities in the richest countries .. well, that’s the day the market has completely collapsed and Will Smith or Glenn Close or Gene Hackman is president.

  • http://www.alternet.org ABC2

    It’s my understanding that throughout the 1920s-1950s, many of the small houses like the one shown were easily afforded by longshoremen & other blue-collar types & their families, not just elites who finagle us on Wall Street.

  • http://www.willowtown.org Seth Murphy

    ABC, you are right, I think that is what I said in a round about way.

    Money to burn = rich
    Defies logic = not understandable to most (i.e. working class)

    The end of the housing depression will not be defined by rich people buying homes in BH, but middle class families being able to get a mortgage to buy one in LI.

  • http://www.willowtown.org Seth Murphy

    Sorry, original ABC, I didn’t see the other ABC post. ABC2 make a good point, and this section of BH is BH by real estate name only. Being underneath the retaining wall, it was once a working class neighborhood, right next to working docks. However, that has changed, as the park has replaced it.

  • ABC

    you can go where there are longshoremen working the docks and buy a house for cheap I think. try baltimore. but the longshoremen are long gone here. times have changed.

    The working class people who bought homes in the 1920s almost anywhere would be pretty rich people today!

  • Andrew Porter

    I’m starting a rumor that the buyers are planning to remove the front of the place and turn it into a place selling slurpies and chips to people going to Brooklyn Bridge Park. What Landmarks and the BHA don’t know won’t hurt them…