100 Clark Street Sells
100 Clark Street earned notoriety over the past decade for its poor condition and the failure of its owner to do anything about it. The issue came to a head in 2008 when the DOB ordered the long-time tenants to vacate their way-under-market rent-stabilized apartments because the condition of the building had become “imminently perilous.”…
100 Clark Street earned notoriety over the past decade for its poor condition and the failure of its owner to do anything about it. The issue came to a head in 2008 when the DOB ordered the long-time tenants to vacate their way-under-market rent-stabilized apartments because the condition of the building had become “imminently perilous.” In fact, it was determined to be so perilous that DOB tore down a portion of the building, a move that resulted in the owner suing DOB, LPC and a couple of contracting companies with a $18,000,000 lawsuit. (Pleasant.) In April of this year, the suit was dismissed by New York State Supreme Court. The owner put the property on the market in April, initially without a listing price and then for $2,000,000. Massey Knakal, the listing broker, just announced yesterday that the property had sold in an all cash transaction for $1,250,000.
100 Clark Street Listing [Massey Knakal] GMAP
100 Clark Street Hits the Market [Brownstoner]
What’s Up at 100 Clark Street? [Brownstoner]
Emergency Repair at 100 Clark While Court Fight Continues [Brownstoner]
Emergency Demo at 100 Clark Clears Tenants [Brownstoner]
‘Dereliction of Duty’ in Brooklyn Heights [Brownstoner]
my bad. I use to be able to read.
i said 250,000
Donald, if you toured the building why didn’t you get the garage prices? I did, and they’re not $200,000. They’re $250,000. The smallest 1 BR unit starts at a almost a million. Some units with incredible ceilings and design layouts, some not so hot(especially the penthouse which has a purely nutty layout.)
on 100 Clark, unless someone had their head up their arse, the only way $1.25 mil made sense was to have settled with the existing statutory rights tenants in place at contract.
the squatters in these buildings were pure scumbag extortionists. they were demanding million dollar buyouts.
they are the reason the building was not restored. taking their side is fuzz-brain idiocy.
Hopefully the renters were given a fair settlement. It really was a crime the way that the building was allowed to deteriorate to such a dangerous state.
I stopped by Love Lane last week and got pricing. Even the 2BR’s are starting at 1.4m. Great reuse of the buildings, but very pricey.
McKenzie- those renters are not squatters. And if they were no longer paying rent, it would have been because of dangerous conditions. We can only imagine the condition of the apartments.
with open tenant issues, 1.25M is definitely not a juciy deal. might still be a deal but NOT juicy
I hope most of the money goes to the tenants, and the owner doesn’t get to profit from running his building (and their home) into the ground while simultaneously getting around an inability to evict low-rent peeps.
I walked thru the Love Lane project last week with the selling broker. Large units with pricing ranging btwn $1,000 to $1,300 psf. I am interested to see how they are received by the market/buyers.