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Last week news hit that a house in southeast Brooklyn had traded hands for $10 million, making it the second-priciest home sale in Brooklyn history. As it turns out, the moneybags behind the purchase is not exactly an unknown personage: Public records show that mega-landlord Baruch Singer ponied up the dough for the 7,526-square-foot house. Singer, who has long (and perhaps unfairly) been considered one of the city’s preeminent slumlords, made his fortune by owning and operating older rental buildings; a couple of years ago, he sold a portfolio of 104 properties for $450 million. Though most of his holdings have been concentrated in upper Manhattan, Singer’s been making some interesting waves in Brooklyn real estate lately: He’s been involved in a legal dispute about ownership rights for the fire-struck Greenpoint Terminal Market site; in May he paid $13.3 million for a Dumbo warehouse that he reportedly plans to convert into a residential building; he recently sold a few Kensington buildings for $12.6 million; and he may or may not be fixing to build a new Park Slope building on 4th Avenue and 6th Street.
Baruch Singer Buys Himself Some Dumbo [Brownstoner]
Commercial Sales in Brooklyn [Brownstoner]
4th Avenue Condos: The Next Generation? [Brownstoner]


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  1. So,does this now mean that every house in the area is worth 10 mil? Just how many fools that overpay does it take before some broker wants every house listed at that price.Or how many padded and false sales will it take? Wake up people,if you purchased in the last 3 years you got screwed and there seems to be no end in sight to the orgy.