71 stuyvesant avenue bed stuy

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.

Photo by Christopher for PropertyShark

07/23/14 9:30am

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…)

96-98 degraw street

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.

Photo via Google Maps

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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…)

07/17/14 9:00am

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Dixon is no longer buying only houses in Brooklyn but has moved into large apartment buildings in a huge way, snapping up at least $40,000,000 worth of commercial property in Brooklyn in one month, according to public records and sources.

In June, working with partner Excelsior Equities, Dixon acquired 442-446 Decatur Street, pictured above, 263-265 Linden Street, 255-261 Linden Street, 770 St. Marks Avenue, 637 St. Marks Avenue, 24-30 Rogers Avenue, and 75 MacDonough Street, all in Bed Stuy, Bushwick and Crown Heights.

The change in strategy allows Dixon to rapidly increase the scale of its operations, to buy at a bigger discount, and will also give the company cash flow to service debt, a source who preferred to remain anonymous told us. “If they buy bigger properties, it gives them more scale and they can get a discount due to rent stabilization,” he said. (more…)

07/15/14 9:00am

777-rugby-road-071514

Dixon is selling one of its Brooklyn homes and has started leasing another batch of rentals, including properties in prime areas of Brooklyn such as Park Slope.

The sale is unexpected, its first in Brooklyn although not the greater New York area. Dixon’s strategy has always been to buy and rent out its properties, not flip them, holding them for at least five years, because of a U.S.-Australia trade agreement. Dixon purchased 777 Rugby Road, a standalone Victorian in Ditmas Park that had been on and off the market for years, pictured above, from its longtime owner for $1,055,000 in May of 2013. (more…)

07/09/14 9:30am

133 carlton avenue fort greene 72014

A pre-Civil War house with a remarkably well preserved exterior (a former Building of the Day) at 133 Carlton Avenue in Wallabout is being marketed as a development site for $5,200,000, along with two neighboring lots that include another small wood frame house and a convenience store. The house at 133 Carlton Avenue, once used as a church, is a wood frame Greek Revival house built in the 1840s. (more…)

07/02/14 9:00am

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It’s one of Bed Stuy’s most prominent and notable buildings, a true mansion built by a wealthy inventor, and it’s going on the market in September. The owner of 247 Hancock Street, Claudia Moran, a retired advertising exec, moved here in the ’80s from Chelsea and can tell story after story about the building.

it was an illegal SRO when she bought it with a down payment of $7,500. It took 18 months to close. She has restored it inside and out. Although she is 72 (she doesn’t look a day over 50), she maintains the extensive garden with English roses and a koi pond herself.

Sharon Stone shot a movie there, it has been the site of many fashion shoots and weddings, and President Cleveland once stopped by. Known as the Moran Victorian Mansion and the John C. Kelley House, after the water-meter mogul who built it, it is occasionally rented out for events and photo shoots. It’s a single family house with two kitchens and the top floor is currently rented although it will be delivered vacant. The owner said she plans to retire to her native Jamaica.

The house is 40 feet wide by 47 feet deep and sits on a 81-by-100 square foot lot. Sadly, this block and this building are not yet landmarked, but they should be. Montrose Morris’ own house was across the street and many of his buildings are still here. He designed this house also, in the mid to late 1880s. The Neo-Renaissance architecture with Romanesque Revival features was notably in advance of its time.

The listing will go up in early September, real estate agent Ban Leow of Halstead, who has known the owner for years, told us. The ask: $6,000,000.

Click through to the jump for a more recent photo.

Building of the Day: 247 Hancock Street [Brownstoner]
The Queen of Hancock Street [Brownstoner]
Photo by Christopher Bride for PropertyShark (more…)

07/01/14 11:30am

williamsburg-apartment-buildings-070114

Average co-op prices in north and northwest Brooklyn have spiked 71 percent since January to $687,000 and the average condo in Brooklyn now costs $1,080,000, according to a report from Ideal Properties. Both DNAinfo and The New York Daily News carried stories on the report, which is not yet available online.

A lack of inventory, especially of townhouses, is driving the increase, said an executive with the firm. Bidding wars are routine in Brooklyn, where inventory in general is lower than in Manhattan, an executive from Warburg Realty told DNAinfo.

Brooklyn Now the Borough of Kingly Prices [NY Daily News]
Brooklyn Co-op Prices Rise 71 Percent in Past Year, Reports Show [DNAinfo]