Actress Anne Hathaway has sold her ninth-floor condo in Dumbo’s Clocktower building for $4,330,000. The buyer is a film producer who already lived in the building and just sold a smaller apartment on a lower floor for $1,900,000 to an LLC two weeks earlier, The New York Post reported. (She still owns another apartment in the building, No. 12A.)
The most recent asking price for Hathaway’s unit, 9B, at 1 Main Street was $4,250,000; at one time the condo was asking $4,500,000. Hathaway purchased the apartment through an LLC in 2013 for $4,100,000, city records show.
A listing has just gone up for one of the three townhouses created out of the landmarked 1902 Dudley Memorial medical building on Amity Street in Cobble Hill. The conversion has been in the works since 2007, and the townhouse at 118 Amity Street is asking $7,795,000.
That princely sum will get you a vertical slice of the French Renaissance palace-style building on its own tax lot, a side yard, and more than 6,000 square feet of interior space. There are five bedrooms, a wine cellar, a roof terrace with a hot tub, and lots of other high end features.
In 2012, Brown Harris Stevens put up a listing for a townhouse in the building with the price of $3,850,000 and the address of 355 Henry. We published the renderings for that sale and they look quite different. As far as we know, it is not in contract.
But the timing of this sale may be unfortunate — will the new owners be able to enjoy the hot tub and other amenities while development proceeds on the opposite corner at Long Island College Hospital?
Yesterday the State Attorney General Eric Schneiderman and State Comptroller Thomas DiNapoli signed off on SUNY’s plan to sell Cobble Hill’s Long Island College Hospital to developer Fortis Property Group, Brooklyn Heights Blog reported. The approval came two days after a march during which local politicians and community groups called on the attorney general and the comptroller to investigate the deal, which they said appeared to be rigged.
“What happened to the Othmer Endowment money? Was the bidding process legal and appropriate? At so many points it appeared rigged, there’s no other word for it,” Brooklyn Eagle quoted City Council Member Brad Lander as saying. “Officials have written to Attorney General Schneiderman and Comptroller DiNapoli. We’re asking the Attorney General and the Comptroller to thoroughly investigate these questions.”
Many questions about the deal remain, said the Eagle.
Incredibly, more than 50 percent of the apartments at ultra-luxury Red Hook condo building 160 Imlay are in contract less than a month after sales launched. Construction on the conversion of the warehouse started in June, and is expected to wrap in 2016. On the first of this month, listings went up for 10 units, and now there are 49 units listed on StreetEasy, all of which are in contract. The building has 70 units altogether but no available units are listed online. BuzzBuzzHome was the first to report on the sales.
Prices range from $862,875 for an 885-square-foot one-bedroom to $5,397,840 for an 3,831 square foot one-bedroom. (There are also studios, two-bedrooms and three-bedroom units.) Est4te Four is the developer and Aldo Andreoli of AA Studio is the designer. The interiors preserve some of the industrial details of the warehouse, which was one of the first cast-in-place concrete buildings, such as concrete beams and high ceilings. The units feature extra-large triple-paned windows to take advantage of the views. There are wide plank oak floors, white matte lacquer Italian kitchens, and appliances by Miele. Douglas Elliman is handling the sales. The building is in the flood zone.
As anyone strolling the streets of Brooklyn might guess from the frenzied pace of building in the borough, commercial real estate in Brooklyn has reached new heights. Institutional investors, big players previously interested only in Manhattan, are now buying and selling in the borough, and the dollar volume of commercial sales in the first six months of this year is nearing the numbers for the entire year of 2013, according to a story in The Real Deal. It’s the “Manhattanization of the investment sales market,” according to a Massey Knakal executive quoted by the paper.
The number of deals increased dramatically in the first six months, with the dollar volume of deals completed equal to $3,400,000,000 — vs. $3,800,000,000 for all of 2013, according to numbers from Massey Knakal quoted in the story. There were 1,086 commercial sales in Brooklyn in the first six months of this year, an increase of 14 percent over the same period in 2013.
Not surprisingly, most of the activity was in Williamsburg, where 31 development sites traded hands in the first six months. But, surprisingly, Bed Stuy was hot on its heels, with 27 sites changing hands. Greenpoint hit third place, and Crown Heights was fourth, with 18 deals.
The average price of a deal was $3,000,000, according to TerraCRG. But there were some big sales above $30,000,000 — TerraCRG estimates 25 or 30 such deals will have closed during the first six months of the year. (In 2011, there were only three deals above $30,000,000.)
The sale of a stake in Atlantic Yards to Greenland and Fort Greene’s 470 Vanderbilt topped the list of the borough’s biggest deals — click through to the story to see the 10 biggest. Sales are still booming, according to sources, but running out of property or new restrictions concerning tax abatements or inclusionary housing could put a damper on the market, said The Real Deal.
One thing developers are not worried about is rising interest rates. “There is still so much money out there. The market will continue. I don’t think there are any clouds on the horizon,” investor Stephen Steiner of Stratus Capital Advisors told the paper.
Another Brooklyn gas station has been snapped up for development, this one in Clinton Hill. A developer, The Daten Group, bought 840 Fulton Street, at the corner of Vanderbilt Avenue, for $7,400,000 on September 30, according to the Commercial Observer.
The firm plans to build a seven-story mixed-income rental building. The 40,000-square-foot development will have 38 apartments, 20 percent of which will be affordable. There will be 5,000 square feet of retail in the project, which is scheduled to begin construction in March 2015 and finish two years later. KBA Architects will design the building, which will cost approximately $20,000,000 to build, said the story. The Daten Group’s management company, Vibe Living, will manage and market the rentals, and Douglas Elliman will handle the initial leasing campaign.
The deal included 3,464 square feet of air rights from a neighboring property at 848 Fulton Street, which is a four-story building with apartments and a Thai restaurant on the ground floor. The sale has not yet hit public records. The developer hasn’t filed any demolition or new building applications yet either.
A now-vacant lot at 359 7th Street in Park Slope just sold for $1,860,000, or $453 per buildable square foot. The sale was brokered by Ariel Property Advisors, which said in a release that the price per buildable square foot was a record for the neighborhood. The unnamed buyer plans condos, said Ariel. The 20.5 foot wide, 100 foot deep lot can accommodate a 4,100 square foot building.
The previous owner, an LLC, bought the site in August of 2012 for $1,250,000. At the time the lot had was home to a frame house built sometime before 1899. The application to demolish the building was approved in December of that year. The transaction has not yet hit public records. Click through to see a photo of the frame house that was torn down.
Photo above by Google Maps; photo below by Nicholas Strini for PropertyShark (more…)
After years of legal and financial woes, New York City’s last public bath building, completed in 1910, has been snapped up at auction by developer Greystone for $7,600,000, DNAinfo reported. Landmarked in 1982, the building at 227 4th Avenue has in recent years been used as a private arts, events and community space known as the Lyceum.
Greystone told DNAinfo it would not comment on its plans for the building until the close of the sale in 60 days. There are windows all around so apartments would be possible, but the entire space is only 12,200 square feet inside. The building’s FAR would allow a total of 33,060 square feet on the site, but its landmark status is likely to prevent any additions. The developer could carve out 10 or so luxury condos, but unless Landmarks allows a modern addition on the roof, our guess is it will become a mall, office space, or a big box store.
A lien for $5.05 million led to the foreclosure sale, Here’s Park Slope reported earlier this week.
The photo of the building partly shrouded in netting in 2012, above, does not show the Renaissance Revival building’s elaborate terra cotta detail, which includes dolphins, urns of flowing water, and images of Triton, the father of the sea-god Poseidon. It was designed by architect Raymond F. Almirall.
The last and biggest of the three neo-traditional townhouses at Strong Place and Kane Street has just hit the market and the price will set a record for Cobble Hill if the developer can get it: $7,500,000.
The high price of No. 2 Strong Place may reflect that the property is not just one house, but two: There is an 800-square-foot carriage house in the back with parking on the lower level and a studio apartment with kitchenette above.
All three townhouses are in a landmarked area and were designed by CWB Architects with Landmark’s approval. The exteriors were modeled on the neighborhood’s historic row houses but the interiors are modern. The developer is Brennan Realty, which is also marketing them. The townhouses were briefly on the market pre-construction in early 2013. No. 2A entered contract in January this year when it was asking $4,475,000. No. 4 was listed earlier this month.
The townhouse at No. 2 Strong Place is about 4,000 square feet over five levels. The garden level has the kitchen and dining area that looks out through double height windows onto the garden. The parlor level has two living rooms and a wet bar. The master bath and second bedroom are on the next floor up, and two more bedrooms are above. The top level can be used as a home office or study, according to the listing.
To put the price in perspective, the current Cobble Hill record holder is 305 Degraw Street, the 6,000-square-foot carriage house with a modern renovation and green wall that recently closed for $7,000,000. A double-width Greek Revival mansion at 491 Henry Street sold for $6,750,000 in 2013, and a beautifully renovated and grand Italianate at 233 Warren Street on a double lot with a carriage house went for $6,050,000 in 2012.
Click through to see a new rendering of the kitchen as well as other renderings that came out in August. Do you think they’ll get their ask?
Developers are keeping the new construction townhouses coming in Brooklyn. The latest to hit the market is 4 Wythe Lane, one of six single-family townhouses under construction at South 4th Street and Wythe Avenue in Williamsburg. Two other houses in the complex, No. 5 and No. 6, already have contracts out, according to BuzzBuzzHome, which was the first to report on the listing. There are no listings up except for No. 4, although renderings and floor plans have gone up on the development’s website. Halstead is handling the sales.
Developed by KUB Capital on a former scrap metal site and designed by KUB Design and SZ Projects, the townhouses will have a modern look. The four-story house at No. 4 will have a total of 3,775 square feet with four bedrooms, three full baths and two half baths. It is 16 feet wide, and there is a 25-foot deep garden. It’s asking $3,995,000.
That’s a significantly bigger number than the last Williamsburg townhouses to hit the market. The 12 Williamsburg Social Townhouses on North 3rd between Berry and Bedford started at $2,380,000 when they debuted in 2013.
We doubt construction is very far along yet, since demo of the old G&C Salvage Corp. scrap metal facility at 55-59 South 4th Street was scheduled to start in August. The site abuts “Site E” of the Domino Sugar development, until recently a temporary public park, which will be the first under construction.
Click through for renderings. A floor plan can be viewed here. What do you think of the design and price?
The John C. Kelley House, site of a Sharon Stone film shoot and a visit from President Cleveland, is now officially on the market for $6,000,000 and photos went up on the listing Friday afternoon.
As we reported in July, the longtime owner, a retired advertising executive, bought it when it was an illegal SRO and meticulously restored it. The double-wide house at 247 Hancock Street is 41 feet wide by 60 feet deep, according to the listing, and sits on an even bigger 81-by-100 square foot lot. The Neo-Renaissance house with Romanesque Revival features was designed in the 1880s by architect Montrose Morris, who lived across the street. The block, between Marcy and Tompkins, is one of the most architecturally distinguished in Bed Stuy, but is not yet landmarked.
It’s set up as a rental apartment over a grand owner’s triplex, complete with bar and ballroom in the basement. It also has an extensive landscaped garden with koi pond and roses. It is Bed Stuy’s most expensive listing and will set a record when it sells.
Click through for more photos and a floor plan. What do you think of the price?
After only 11 months, “Girls” star Zosia Mamet and boyfriend actor Evan Jonigkeit are selling their house in Bushwick, as Bushwick Daily was the first to report. They don’t seem to have changed the interior much, except to paint the kitchen cabinets white.
The house at 896 Flushing Avenue was already gut renovated without a shred of original detail left when they purchased it. Flushing Avenue is an extremely busy street and truck thoroughfare, and the house is across the street from the huge Rheingold Brewery complex, soon to be a construction site.
Although the house is 22 feet wide and technically a six-family, we thought they overpaid at the time when they purchased it for $1,000,000. Now they are asking $1,600,000. Do you think they will get it? And what does this mean for Bushwick?