Greenpoint - state of the market

Looking at about 6 months in closed condo sales, you'll see a rough average of about $577/sf. With a few exceptions, the general trend is ppsf in the 500's to low 600's on the Queens side, and in the mid-600's to 800 the closer you get to Williamsburg. There are a few odd-ball curve-busters in there dragging the average down, and in general the larger the apartment the lower the ppsf, so this average doesn't take any of that into account. There's not much on the market now - only about four 1-beds under $500K, maybe another four 2-beds under $850K. There are a couple large one-beds and convertible-2's in between.

Houses, as usual, are even more rare. It's not as meaningful to list price/sf with townhouses as there are so many variables that go into the price (condition, indoor/outdoor space, location). Generally speaking we group them into 1, 2 and 3 families. Anything larger is more for investors, and that's another newsletter. Since last August, one-family townhouse recorded sales listed from $725K-$950K. Two and Three-families went from $600K-$1.3M. Right now there are a few on the market from $690K - $1.3M. Prices are going up and anything decent will have multiple offers. Here, as in Williamsburg, the townhouse market is a tricky one. Every deal is an adventure, but not to worry...it's a rollercoaster I've ridden many times and lived to tell.

Illustration by Two Arms Inc. at www.TwoArmsInc.com