This 1920s brick townhouse in Crown Heights South just may have set a new neighborhood record. The single-family home, which sold for $999,000 in December, sold again in July for $1,850,000, more than $150,000 above the original asking of $1,695,000. The home at 1388 Union Street has been well maintained and, according to the listing, is chock full of details including bay windows, original moldings, mirrors and wood paneling, (though all the woodwork is painted). The renovation is very well-done. It’s unclear how much work the flipper actually did on the home given how fast it turned over. Interior pics after the jump. (more…)
A little gray wood frame house sandwiched between tall apartment buildings at 1191 Ocean Avenue in Flatbush has sold as a development site for $2,250,000. The 42.5-by-100-foot lot was on the market for less than four months and went $300,000 above ask, according to real estate firm TerraCRG, which brokered the sale.
Plans to replace the turn-of-the-last-century two-story house with a seven-story, 26-unit building have already been approved. A schematic can be seen on TerraCRG’s website. The property is located between Farragut Road and Glenwood Road close to Brooklyn College. It was delivered vacant. A demo permit was approved in May.
Nonprofit SCO Family Services has put its three-story office building at 570 Fulton Street in Fort Greene up for sale, according to Crain’s and TerraCRG. The 26,388-square-foot building has 71,920 square feet of development rights for commercial or residential, or up to 86,300 square feet with an inclusionary housing bonus. (more…)
Do you remember 102 Gates Avenue, an estate sale condition Italianate in Clinton Hill that attracted 350 people to the open house in early 2013? Well, now it’s been beautifully restored and is going on the market in a few weeks, according to a story in the BK to the Fullest. Click through to the jump to see the “after” photos of the restored house.
When it was a House of the Day, we said, “Here’s the kind of listing we love to see: The house needs restoration, but just about every original detail appears to be present.” (more…)
The creme de la creme of Brooklyn listings is clotted. The handful of Brooklyn properties at the very top of the market, asking between $10,000,000 and $16,000,000 and sometimes more, aren’t moving. There’s a multi-million-dollar gap between asking and closing prices at the tippy top of the Brooklyn market.
The Real Deal took a look at the top 10 Brooklyn listing prices and the top 10 Brooklyn closed sales, and found a discrepancy. Since 70 Willow Place — where Truman Capote famously rented — closed for $12,500,000 in 2012, several higher priced properties have failed to sell, and it remains the borough record. (more…)
Bed Stuy is hot and prices of town houses are rising are rising quickly there. Nine of the top 15 price records in the neighborhood during the past five years are from 2014, according to a story in The Real Deal.
In another measure, median sale prices of all types of homes there rose to $630,000 in the second quarter from $425,000 a year earlier, or nearly 50 percent. Asking prices, a more current but less reliable measure than closed sales, leapt 50.4 percent to $895,000 in June vs. the previous year. (more…)
An old ship-engine repair building in Red Hook will be renovated and turned into store and office space for “creative office and retail tenants,” The New York Observer reported. LIVWRK, the real estate investment and development firm that is also a partner with Kushner Companies and RFR Realty in transforming the Watchtower printing plant buildings into office space for creative and tech companies in Dumbo, bought the building Tuesday for $21,500,000. (more…)
A tipster tells us that a three-story multifamily at 71 Stuyvesant Avenue in Bed Stuy has sold for $3,800,000, setting a new record for multifamily buildings in the neighborhood. The property last changed hands for $540,000 in 2010, after selling at a foreclosure auction a few months before, according to public records. The 6,200-square-foot apartment house has 12 units and sits near the corner of Stuyvesant and Dekalb Avenues. Until now, the most expensive multifamily sale was 281 Tompkins Avenue, which sold for $3,300,000 in January 2013.
The Brooklyn building boom has finally unleashed a slew of new-development condos: The total number of new-development sponsor sales throughout Brooklyn shot up a whopping 84.5 percent in the second quarter vs. the first. Median sales prices for new-development condos increased 19 percent, while the median per square foot jumped 24 percent in the period, according to a report out Friday from real estate firm MNS.
No neighborhood is hotter than Williamsburg, where the median sales price for new developments shot up 52 percent, from $821 per square foot to $1,244 per square foot in the second quarter vs. the quarter before, as DNAinfo was the first to report. The median sale price for a new-development condo in Williamsburg is now $1,770,000. (more…)
A condo at 308 Waverly Avenue closed for $2,150,000, or $1,101.99 a square foot, in June — likely a record for a condo in Clinton Hill. The unit is hardly a typical condo, though: It’s actually an entire carriage house set on a larger property at 315 Clinton Avenue. (more…)
A waterfront site at 96-98 Degraw Street has just sold for $2,100,000, according to TerraCRG, the agent on the deal. The property between Columbia and Van Brunt streets is 3,500 square feet, and the sale price works out to $326 per buildable square foot.
There are already plans for two three-story single-family homes clocking in at 3,000 square feet each, which were filed and disapproved in October 2012. “Townhouses in the neighborhood are in high demand, with sales in the area achieving well over $1,000 per square foot,” TerraCRG Senior Vice President Melissa DiBella said in a press release.
A percentage of the huge and hotly debated Rheingold Brewery development site in Bushwick has just sold for $11,250,000, according to public records. The collection of nearly 50 commercial properties includes the former brewery at 930 Flushing, as well as a long list of small adjacent commercial properties on Stanwix Street, Melrose Street, Monteith Street, and Flushing and Bushwick avenues. The buyer is RP Acquisitions LLC, which we’re guessing is an arm of Read Property, the developer that already owns the site. The deed transfers 12.5 percent of the property to this LLC, which explains the low sale price. (more…)