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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The Brooklyn Greenway is expanding to Columbia Street between Degraw and Kane, and a desolate stretch of waterfront is about to get much greener. There’s already a protected bike lane on Columbia Street, but the Brooklyn Greenway Initiative is going to begin landscaping the first part of the Columbia Waterfront Park. They’re looking for enthusiastic […]
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Brooklyn, one building at a time. Name: Row houses Address: 409-417 Grand Avenue Cross Streets: Gates and Putnam Avenues Neighborhood: Clinton Hill Year Built: 1909 Architectural Style: Colonial Revival Architect: John J. Petit of Kirby, Petit & Greene Other work by architect: Houses in Prospect Park South and other Victorian Flatbush neighborhoods, commissioned homes in […]
The permanent signage for Nordstrom Rack and T.J.Maxx went up on the front on the Offerman Building at 505 Fulton Street last week. Nordstrom Rack is prepping for its opening next week on Thursday, May 1. T.J.Maxx is still “coming soon” — and it probably will be soon. We saw an ad on a bus […]