Browstoner: Brooklyn Heights Bubble Burst?

Wethinks the “bubble burst” that Brownstoner says is happening in Brooklyn Heights is more like really aggressive pricing/greed coming back down to Earth:

Brownstoner: 72 Middagh, a 3,450-square-foot former school house with its own parking that recently underwent a pitch-perfect renovation. This one started out three months ago at $2,995,000 and was just cut to $2,895,000…. 47 Willow Place was not enough to reel in a buyer at the initial asking price of $3,450,000, so after just five weeks, it too had its price trimmed to $3,200,000…The suburban-modern carriage house at 43 Love Lane. Brown Harris Stevens, Stribling and Halstead gave it a go for most of last year, starting at an original asking price of $3,500,000. Coldwell Banker took over in February at $2,995,000. With no better luck, they cut the asking price to $2,745,000 at the end of April.

What do you think?

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  • Sandy

    I think it’s only the $3M+ townhouses whose bubbles are bursting right now… though I’d personally be happy to see rents for one bedrooms come down to the $2K range.