After its surprise eleventh-hour landmarking last month, the Italianate manion at 70 Lefferts Place (which hasn’t always been yellow, as the photo from NYC archives shows) is back on the market. Unable to proceed with the condominium development he had been planning, developer Chris Morris (who, to be fair, got pretty shafted in all this) is looking either to sell the property outright or partner with someone with the vision to do something profitable within the envelope of landmark rules. Given that he’s got a $2 million mortgage, the house is probably costing him $12,000 to $15,000 a month to carry — reason enough to seek a swift solution. We looked at the house last Spring but were unable to convince a developer we know to put up the dough to buy and renovate it. And while the potential returns of dividing the existing structure into a handful of condo units may not provide the sky-high returns that many pros target, we still think there’s decent money to be made from doing a historically respectful conversion. You know, if 100 readers put of $10,000 each, you’d have more than enough equity to see this through.
1854 Italianate Villa [Craigslist] GMAP P*Shark
BREAKING: 70 Lefferts Place Landmarked! [Brownstoner]
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Brooklyn, one building at a time. Name: Originally Elephant Club, now ground floor retail Address: 1409-1411 Fulton Street Cross Streets: Marcy and Tompkins Avenues Neighborhood: Bedford Stuyvesant Year Built: 1888 Architectural Style: Romanesque Revival Architect: 1409 unknown, perhaps Sibell & Miller, who built 1411 Landmarked: No The story: In September of 1888, the Echo Bowling […]
Urban Market opened Friday at the foot of the Williamsburg Bridge at 11 Broadway. The 16,000-square-foot store is an offshoot of Key Food and aims to offer both upscale and basic items, according to a press release sent out by landlord L+M Development Partners. The store features a gourmet deli with a kosher section, a […]
This four-story brownstone at 789 Quincy Street has a nice amount of original detail, but looks like it could use a little polishing. The listing says it’s “fully functioning and awaiting your cosmetic upgrades.” It’s in the northeast corner of Bed Stuy near Broadway and the Gates stop. How do you like it and the […]
This three-bedroom condo at 1 Montgomery Place in Park Slope is very impressive. The 2,624-square-foot duplex has been carved out of a former mansion and includes a 750-square-foot private garden. The layout is much more generous than what you’d find in a typical brownstone and there are lots of original details. Asking price: $2,650,000. 1 […]