422 Union Street

A new-construction townhouse with a traditional brick row house exterior in Gowanus is now on the market and asking $4,250,000. A Google Maps photo of the building under construction at 442 Union Street shows a four-story building with a traditional black cornice, lintels, and extra-long windows on the parlor floor.

Inside the interiors are clean and modern. The 4,320-square-foot home features 10.5-foot ceilings and four-inch rift-sawn oak flooring on the parlor level. A private garden, roof terrace and — notably — an elevator are among its amenities. (more…)

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Salvation Army is selling off another Brooklyn building. The former warehouse and stable at 22 Quincy Street is in contract as of yesterday, for an amount around $30,000,000, we hear. The ask was about that, and there were multiple bidders.

As far as we know, it is an off-market transaction. The buyer was not revealed.

Given the price, it will likely be made over into a residential building, our source speculated, despite its enormous footprint and relative lack of windows. The building is 70,158 square feet and is over FAR, so demolition is unlikely. It is not landmarked. (more…)

Brooklyn sales report

Sales prices in Brooklyn climbed for the 10th consecutive quarter, setting a new record, while rents finally seem to have stabilized. That’s the overall picture we drew from data in reports out today from Douglas Elliman and Corcoran, confirming what we’ve been seeing in the market recently.

The Elliman report, prepared for the firm by Jonathan Miller, president of Miller Samuel, showed the median sales price for a home in Brooklyn was up 17.5 percent in the first quarter of this year over the same period last year to a record of $610,894. The median condo sales price hit a new record at $729,750. The median sales price for a one- to three-family home was up 26.9 percent over the first quarter last year to $744,000.

One of the biggest jumps in price was for two-family homes in northwest Brooklyn — the swath of 16 neighborhoods from Brooklyn Heights to Park Slope, from Fort Greene to Dumbo. Prices for those properties were up 46.2 percent over last year. (more…)

4-downing-2-030815

Listings went up Monday for six units on the site of what was formerly Broken Angel, the otherworldly art project that was once a well-known Clinton Hill landmark. Developed by Barrett Design, the property at 4-8 Downing Street contains 10 units altogether in a 19th century former tenement building and an under-construction new two-family townhouse.

The six apartments range in price from $1,125,000 for a two-bedroom, two bath to a three-bedroom, two-plus bath for $2,375,000. Renderings and floor plans show spacious units with modern finishes inside and views. Bathrooms in the four-story 19th century building have “original architectural details,” according to the listings.

There are Bosch appliances, white oak floors, an elevator, common roof deck with views of Manhattan. Some units also have private outdoor space.

The least expensive unit, No. 1B on the ground floor, is priced at $847 a square foot with 1,888 square feet total and common charges of $498 a month. The units are still under construction. The apartment building is scheduled to wrap this summer and the townhouse this fall.

Click through for renderings and floor plans. What do you think of the design and prices?

4-8 Downing Street Listings [Compass]
4Downing [Official]
Broken Angel Coverage [Brownstoner]
Renderings via Compass

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360-furman-street-ph-0519141

Brooklyn’s priciest condo will soon be back on the market. The 11,000-square-foot triplex apartment at One Brooklyn Bridge Park, aka 360 Furman Street, was originally listed in May but was taken off the market in February without selling. But now the couple who owns it decided to put the sprawling home up for sale again because it was suddenly feeling too big, as the Wall Street Journal first reported.

One recent evening, while the owner, Stuart Leaf, was in his condo, he got a call from his wife asking when he would be home. As it turned out, “we’d both been home for three hours,” he told the Journal, but the space was so massive neither realized it. (more…)

100 union ave 1

A large development site at 100 Union Avenue, south of Broadway in Williamsburg’s Broadway Triangle, sold last week for $6,000,000, a spokeswoman for brokerage firm TerraCRG told us. The 10,453 square-foot lot is currently occupied by Knight’s Towing and Collision. The buyers, Adam America, Slate Property Group and Naveh Schuster Limited, plan to build rental apartments with ground floor retail.

The same developers also bought neighboring 120 Union Avenue in September of 2014 for $15,000,000, where they plan to build a 100-unit rental building with about 2,000 square feet of retail on the ground floor. Both lots were initially marketed together but the sellers decided to wait longer on the second lot so they could continue operating their towing business, according to TerraCRG.

If the developers choose to include affordable housing at one or both sites, they could build up to 130,000 square feet on the sites combined. TerraCRG represented the sellers.

Click through for an aerial view of the lot.

Rendering for Six-Story Apartment Building Coming to Broadway Towing [Brownstoner]
Photos via TerraCRG
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827-jefferson-avenue-1-040315

This freestanding wood-frame home on Jefferson Avenue in Bed Stuy traded for an eye-popping price of $1,700,000 in January and is slated for demolition. The house at  827 Jefferson Avenue has been greatly altered over the years, but is an Italianate likely dating from the 1860s or so.

This house recently flipped between developers. An LLC, 827 Jefferson Ave, bought the property for $1,200,000 at the end of August — a high price for this part of the neighborhood. At the end of January, the company turned around and sold the house to the similarly named 827 Jefferson LLC and 829 Jefferson LLC for $1,700,000 — a price that is likely a record for this area.

A new development is in the works. (more…)

Schermerhorn Street Facade

Adam America is the new developer of the 21-story tower planned for an empty lot at 319 Schermerhorn Street in Downtown Brooklyn. The developer bought the development site from SC Nevins for an undisclosed price, reported Crain’s.

The brick building will be condos, Crain’s revealed. Construction has not yet started but could kick off any day because the permits and plans are already approved.

Plans call for 61 units — with one, two or three bedrooms — ranging from 650 square feet to 1,195 square feet, as we’ve reported before. Incorporated is the architect.

The development joins a few others in the vicinity offering condos, such as 388 Bridge Street, The Boerum at 265 State Street and on 4th Avenue, although rentals are much more typical in the borough. Click through for lots more renderings, including interiors.

Adam America Plans 21-Story Condo in Downtown Brooklyn [Crain's]
319 Schermerhorn Street Coverage [Brownstoner]
Renderings by Incorporated

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Ideal graph

Home prices in north and northwest Brooklyn continue to rise at a rapid pace, according to a report Ideal Properties released Wednesday. Closed sales were up 21.6 percent in the first quarter over the same period last year.

They were even up 7.1 percent from the previous quarter even though the winter tends to be a slow month for home sales. And the time from listing to closing grew shorter decreasing by 10.5 percent from the same time last year. (more…)

420 albee square downtown brooklyn

The tall tower JEMB Realty is developing at 420 Albee Square in Downtown Brooklyn will be a mere 35 stories instead of 65, according to the latest permit filings, first spied by New York YIMBY. Meanwhile, we see the developer just closed on an adjacent site with a historically significant building on it and is planning a demolition.

An old three-story 19th century wood frame building at 233 Duffield Street is one of three historic stops on the Underground Railroad on the block the Landmarks Preservation Commission tried to save from demolition back in 2007, as we reported at the time. (more…)