Listing of the Day: Price Chop(s) in Kingsbridge

180 Van Cortlandt Park South #5C - 2 bedroom, 1 bathroom, $199K

BoogieDowner has been semi-watching this unit for a while. We profiled it a few times when it was first listed at $265K back in May and then when it was chopped a week later down to $259K. Then a little more off the top brought it down to $254K. The chopping resumed in September and settled at $239K. This had been off my listings loop radar for a while, but it caught my eye again today with a chop all the way down to $199K. Not that anyone's counting, but that's a 25% cut in a little over a year - ouch! Maybe the $265K wasn't entirely realistic? Death of a thousand cuts is tough. If the chop had been a bit steeper, sooner, they might have sold this before the expiration of that federal tax credit. In any case, it seems like a decent deal at $199K.

This is a big unit (950 square feet) at the foot of one of the prettiest parks in the City. The building looks well kept - it even has one of those fancy Co-op names ("the Van Cort" - I guess brevity is their thing). This apartment is also right near Riverdale and all of its amenities. One nice local amenity is the opening of the Bronx Ale House. There's also some shopping on Broadway.

The kitchen and bathrooms look like they've been updated and the apartment doesn't appear to need that much work. All in all, this is a pretty solid apartment for a pretty decent (and falling!) price. When we were asking about the maintenance in a previous LOD profile of this unit, the listing agent actually left a few comments. Laura also clarified that the maintenance is $791/month, which is 40-50% tax deductible.

The transportation is very nice with the 1 train a block or so away

FULL LISTING

~ErLu

Listing of the Day: Price Chop in Kingsbridge

180 Van Cortlandt Park South, #5c, 2 Bedrooms - $239,000

BoogieDowner has been semi-watching this unit for a while. We profiled it a few times when it was first listed at $265K back in May and then when it was chopped a week later down to $259K. The chopping resumed in late August and after a few whacks with the old price ax the asking price is down to $239K. One nice improvement to the hood since the last time we posted about this is the opening of the Bronx Ale House. That's a pretty solid local if you ask me.

This is a big unit (950 square feet) at the foot of one of the prettiest parks in the City. The building looks well kept - it even has one of those fancy Co-op names ("the Van Cort" - I guess brevity is their thing). This apartment is also right near Riverdale and all of its amenities.

The kitchen and bathrooms look like they've been updated and the apartment doesn't appear to need that much work. All in all, this is a pretty solid apartment for a pretty decent (and falling!) price (although you'd be crazy to pay the asking price for anything in this market). The maintenance isn't listed, so that is a kind of big X-factor. A super high maintenance could be a deal breaker; high maintenance usually means a poorly managed building and it's a monthly fee that in all honesty doesn't provide much (horribly regulated heat? a super?) and builds no equity.

The transportation is very nice with the 1 train a block or so away

FULL LISTING

~ErLu

Listing of the Day: Woodlawn Price Chop

4236 Vireo Avenue, 3 bedroom - $349,000

BoogieDowner profiled this property back in late July when it was listed at $379K. We thought it was a nice value in a stable hood back then...so it's an even better deal now.

This is in the southeastern quadrant of Woodlawn and the listing describes it as a fixer-upper, but from the pics it does not look like a traditional Bronx flophouse that is uninhabitable while you do the work. The listing does not mention the number of bathrooms, but you have to believe there's a least one in there, right? Right?

Here's the Woodlawn spiel (again) for the uninitiated:

Woodlawn is a very unique neighborhood in the Bronx. It is an Irish enclave that has enough bars and pubs to make even Galway jealous. Our favorites are Rory Dolan's (technically in Yonkers) on McLean Avenue and the Rambling House on Katonah Ave (funny story about the Rambling House and my daughter's baptism, but that's one to be told over a pint). The shepherd's pie and other Irish specialties are can't misses.The people in Woodlawn are super-friendly (hey, a lot of them are happy drunks, I guess). Obviously St. Patty's Day is not to missed up here.

You'd have some shopping up and down Katonah and McLean Avenues.

From this side of the hood you'd be able to access easily the Woodlawn Metro-North stop for a quick commute to Manhattan. Otherwise, it's a bus to the 4 train on the other side of the cemetery.

FULL LISTING

~ErLu

Listing of the Day: Biggest Price Chop Ever - Too Bad It's a Flop House

2183 Ryder Avenue, "AS IS" - $192,500

There is nothing remotely attractive about this place (boarded up windows included!). The only reason it is appearing before you today is that it is a real estate freak show of price chops.

On August 16th the price for this pile o'crap was $372,000. Today it stands at $192,500.

That's a $179,500 (or 48%) reduction. I've never quite seen things get chopped this drastically. Admittedly, the new price is much closer to the home's value, but it's interesting that someone tried to ask for $372K for over 7 months. Real estate hysteria is slow to wane.

I kind of feel sorry for the poor sap that bought it for $394,996 in 2005.

FULL LISTING

~ErLu

Listing of the Day: $100K Price Chop

3341 Bouck Avenue, 3 Bedrooms, 1 Bathroom - $299,000

Here is a house that has been chopped down from its March listing price of $399K. There is nothing overly stunning about the place; in fact there aren't any interior shots. What got me was how steep the percentage chop was. As a dedicated real estate listing junkie, it is just very difficult to ignore 25% chops in a 3 month span of time.

I might agree with the argument that a house in Williamsbridge should never have been listed at almost $400K, but it was, and now we're seeing a real deal normalization. $299K is a pretty reasonable price for a house in an average, quiet-ish, residential hood.

Your closest subway would be the 5 train at Gun Hill Road.

FULL LISTING

~ErLu

Listing of the Day: Price Chop by the Week, Part 2

180 Van Cortlandt Park South #5C - $254,000

So BoogieDowner has been stalking this property for a few weeks now. When we first profiled it two weeks again it was listed at $265K. Then a week later we saw that it was chopped to $259K. Now it has been copped again, down to $254K. Kind of makes you wonder where the bottom is.

Strangely enough it seems the listing agent found BoogieDowner's LOD and left a few comments. Laura also clarified that the maintenance is $791/month, which is 40-50% tax deductible. I wonder if there are any amenities that come with that maintenance bill beyond the traditional hot water, heat, a super and real estate taxes. Is there any storage? Parking? Also, if you're reading, Laura, would this building take 10% down instead of the traditional 20%?

This is a big unit (950 square feet) at the foot of one of the prettiest parks in the City. The building looks well kept - it even has one of those fancy Co-op names ("the Van Cort" - I guess brevity is their thing). This apartment is also right near Riverdale and all of its amenities.

The kitchen and bathrooms look like they've been updated and the apartment doesn't appear to need that much work. All in all, this is a pretty solid apartment for a pretty decent (and falling!) price (although you'd be crazy to pay the asking price for anything in this market).


The transportation is very nice with the 1 train a block or so away

FULL LISTING

~ErLu

Listing of the Day: Price Chop Stalker, Part 2

265 Alexander Avenue, 5 Bedrooms, 3 bathrooms - $350,000

It's a brownstone blood bath out there. This unit was listed for $525,000 back in October when Boogiedowner first profiled it (Great Trig Palin joke after the jump, and no, it's not about his special needs. Honest. It's about his slutty older sister). Then BoogieDowner gave it the old price chop treatment on January 27th when we saw that it was listed for $399,000. Now BoogieDowner's freakish real estate searching habits have discovered that it's been reduced again to $350,000. Let's put this into perspective: that's a $175K reduction in 5 months, or $35K/month, or $1,166/day, or about $48.58 per hour in price reductions on this listing. SCARY...
On the positive side, Alexander Avenue is one of the prettiest in Mott Haven. All those Brownstones are simply beautiful. You'd also be close decent eating options with Alexander's, Bruckner Bar and Grill, and Santa Clarita close by.

Roll up you sleeves and put a little TLC into this puppy and you could have a very nice Bronx brownstone for a crazy cheap price once this whole shit show of an economy settles itself out. Or wait a little longer and see if this ever drops below the $300K mark.

The transportation is pretty sweet with the 6 at 138th and 3rd Ave, and Manhattan only being 1 stop away.

FULL LISTING

~ErLu