The fantastical, deteriorating, one-of-a-kind Victorian whimsy at 111 Clarkson Avenue has sold to a developer for $2,675,000. It will be torn down to make way for luxury rentals. The off-market deal closed September 23, according to Adam Glassman, principal of Property Buyers Group and Glass Capital Ventures, which brokered the sale. “The house could be salvaged but [would need] at least $1,000,000 in rehab and financially it won’t make sense,” he said.
The extremely grand interiors with a newel post gas light, enormous fireplaces, painted ceilings and stained glass windows are unchanged, Glassman confirmed; interior photos taken by Dinanda Nooney in the 1970s can be seen here and here.
The buyer is a small developer in Brooklyn who did not want to be named. The buyer is reportedly planning a 50-unit new construction residential building, a “high-end green rental building with amazing amenities,” said Glassman.
The house is located on an extremely deep lot and is not landmarked. As of last month, preservationists in the area hoped a new development could be built without tearing down the house. The property was reportedly for sale for years. The listings that recently surfaced were never approved by the seller, said Glassman.
Property Buyers Group handles off market distressed properties, which they sell within their network or rehab themselves for sale to the end user. The group also buys and holds investment properties upstate.
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Photo by Nicholas Strini for PropertyShark