There were just two very low sales for 2BR in Newport this week. There was a 2BR at 700 Grove that sold for a paltry $376/sq.ft. and a short sale at 88 Morgan (Trump that closed for $466/sq.ft. These unit were selling at their peak for $650+/sq.ft.
There was a very nice 2BR downton sale on Barrow street in a converted firehouse for $356/sq.ft. It was a bank owned property which is why it was priced so low. I think that we're going to see a lot more bank owned properties come on the market in the near future as banks are now going through the foreclosure process and taking posssession of more and more properties.
There was also a great single family sale on 6th and Erie that sold for $697,000. I've walked by this property many times and it looks like a nice property.
Please click on the link below if you can't see the chart:
Information provided by:
Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
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