Law School to Sell Six Heights Residences
Brooklyn Law School is putting six Brooklyn Heights properties, all used for student housing, on the market, reported Brooklyn Paper. The buildings — 89 Hicks Street (pictured), 18 Sidney Place, 144 Willow Street, 100 Pierrepont Street, and 27 and 28 Monroe Place — could be worth more than $41 million. Together, they contain a total of…
Brooklyn Law School is putting six Brooklyn Heights properties, all used for student housing, on the market, reported Brooklyn Paper. The buildings — 89 Hicks Street (pictured), 18 Sidney Place, 144 Willow Street, 100 Pierrepont Street, and 27 and 28 Monroe Place — could be worth more than $41 million. Together, they contain a total of 110 units, and they will be delivered 90 percent vacant. The school didn’t comment on the big sales plan; they purchased these buildings back in the 1980s. What kind of impact do you think this could have on Heights’ real estate?
Brooklyn Law to Unload Six Heights Buildings [Brooklyn Paper]
Photo via PropertyShark
I recently talked to someone with a son in BLS. He’s lost his housing subsidy as a result of the sales, so short run it sounds like there will be a lot fewer available apartments in the Heights, at least to law schoolers.