We have been, with good reason, on the edge of our seats wondering about the future of 405 Clinton Avenue, the turn-of-the-century William Tubby design that came on the market last September after many years of neglect. Given the shape of the house and the state of the market, the initial asking price was laughable at $3,995,000. By November the price had been reduced to $2,995,000, a price that still seemed unrealistic—one person we spoke to who toured the house told us that it couldn’t be worth any more than $1,500,000. Now comes word, via a tipster, that the house, which was originally built by a former mayor of Brooklyn, has gone into contract at an all-cash price “significantly less than ask.” If you know the price and care to drop us a line, please know that your anonymity will be protected!
Update: We just heard from someone familiar with the deal and, while we didn’t get a contract price, we did learn that it is being purchased by a preservation-minded couple that plans to restore it and keep as many details as possible; they will live in the house and create one rental apartment. Great news!
Update II: Another tipster tells us that they buyer is a couple from Manhattan and that the purchase price was somewhere in the $1.7 to $1.8 million range.
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