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Anyone looking to buy a townhouse for under $1,000,000 will get the best bang for the buck in East Flatbush, although they should also check out Bushwick, Bed Stuy and PLG, a real estate agent advised us last night at dinner.

Now this morning DNAinfo has a story saying the time is now to buy a recently renovated townhouse in a “hot” neighborhood for under $1,000,000 – but those opportunities will soon be fading. The areas in question are Bed Stuy, Bushwick, Crown Heights and Prospect Lefferts Gardens.

“Soon” — it’s unclear exactly how soon — townhouse buyers will be priced out of those areas and relegated to Ocean Hill and East Flatbush, said the story, citing our own posts about recent record-setting sales in Crown Heights ($2,900,000) and Bed Stuy ($3,000,000).

The story also quoted a sales report out from the Real Estate Board of New York yesterday. In the fourth quarter, condos were up 13 percent and townhouses were up 17 percent throughout all of Brooklyn, vs the year earlier, said the report. The gains for townhouses in specific neighborhoods are nothing short of astonishing. Said DNA:

Bed Stuy one- to three-family homes, for example, sold for an average price of $887,000 in the fourth quarter of 2014, up 37 percent from the year before, according to a report released Tuesday from the Real Estate Board of New York. Crown Heights homes went for an average of $733,000, up 24 percent over the year. Bushwick homes averaged $633,000, up 35 percent, and Prospect Lefferts homes averaged $673,000, up 16 percent.

Soon the action will turn to condos, as a huge number of new condo buildings are set to launch in these areas, as we’ve reported previously. More specifically, Aptsandlofts.com alone is “representing 40 new buildings slated to open this year and next in areas like Bushwick, Bed Stuy and Crown Heights,” said DNA.

Another agent, Ban Leow of Halstead, recently told us he believes the market will continue to climb for another three years. What do you think?

Last Chance to Buy Townhouses Under $1 Million in “Hot” Brooklyn Areas, Many Say [DNA]
Q4 NYC Residential Sales Report [REBNY]

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AA Studio has released renderings for its forthcoming 20 townhouses at 109-125 King Street and 74-85 Sullivan Street in Red Hook, and we think they are great! They’re contemporary but with some charming details such as arched windows that reference the architecture in the area. The colors and design of each one vary and repeat in a way reminiscent of late 19th century row house design. (If we read the rendering correctly, the pattern is A, B, C, D, E, B, A, E, B, C reversed, and A.)

New York YIMBY was the first to publish the renderings. Note they all have garages on the ground floor, with access in the front, which is unusual for high-end townhouses, at least the ones we’ve seen lately. It’s not our favorite look, but doesn’t seem to overwhelm the design, at least not in the rendering above.

Each house will be 2,625 square feet, as already reported. The developer bought the property, which houses a two-story factory, for $9,700,000 last year.

YIMBY guessed the exterior cladding planned for the houses will be a mix of brick, metal, wood, and the very popular and contemporary rusty Corten steel. Click through to see a rendering of a rooftop patio.

What do you think of the design?

Revealed: Townhomes Coming to 115 King Street, in Red Hook [NYY]
115 King Street Coverage [Brownstoner]
Renderings by AA Studio via NYY

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Five of the seven neo-Georgian townhouses under construction at 345-353 State Street in Boerum Hill are shrouded in scaffolding and fabric, but the finished brick veneer facade, windows, and cornices can be seen on two peeking out at right. This project was originally skedded to wrap in fall of 2014, according to the sign on the construction site. Click through for a closeup. (more…)

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Developer Sanba Partners has filed permits for the 20 modern-style townhouses it is planning a few blocks from the water in Red Hook. New York YIMBY spotted the permits for the three-story houses, which will be located at 109-125 King Street and 74-85 Sullivan Street.

The houses will fit “into the fabric of Red Hook” and be “contemporary” in style, according to the website of AA Studio, which is designing the houses.

Each house will be 2,625 square feet, with roof decks and parking. The developer bought the property for $9,700,000 last year, said YIMBY. Above, a factory at 115 King Street.

Permits Filed for 20 Red Hook Townhouses [NYY]
More Townhouses, This Time in Red Hook [Brownstoner]
Photo by Kate Leonova for PropertyShark

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An unnamed private investor has snapped up a 27-foot-wide mansion at 672 St. Marks Avenue in Crown Heights for $2,900,000, beating the neighborhood record by nearly $800,000. The sale closed Tuesday, Corcoran agent Chris Cavorti confirmed. The original asking price was $2,999,000.

The Renaissance Revival limestone was built in 1895 and designed by architect Peter J. Lauritzen. It is divided into five units and needs work. As far as we know, the previous record holder was 760 Eastern Parkway, a two-family home on a 40-foot-wide lot that sold last month for $2,108,902.

BK to the Fullest was the first to write about the sale.

Crown Heights Losing Its Mind: 672 St. Marks Avenue [BK to the Fullest]
House of the Day: 672 St. Marks Avenue [Brownstoner]
Building of the Day: 670-672 St Marks Avenue [Brownstoner]
Photo by Corcoran

Update: The story has been updated. Dixon is NOT the buyer of the mansion, Cavorti just let us know. He misheard us when we asked him twice if Dixon was the buyer, he said. An unnamed private investor bought the property.

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Bed Stuy has been having a year or two of “record growth,” both in prices and volume of deals, said a story in real estate trade pub The Real Deal. Upward prices and lots of construction in the neighborhood “are signs that record growth could continue.” The story’s headline is “Betting on the Bed Stuy Boom.”

What is happening in Bed Stuy mirrors much of the rest of Brooklyn, where deals are setting new price records and the number of deals is rising.

While acknowledging Bed Stuy’s special architecture, a “wealth of highly detailed brownstones,” the story also mentioned “limestone row houses,” which do exist but are more typical of Crown Heights, and focused on condos, which at least for now make up a very small proportion of the housing in the area. As an example of Bed Stuy’s record setting prices, the article cited “condos that top $1 million” (a record set in June 2013) rather than row houses that cost $3 million (last week).

The story spoke with five real estate agents, all of whom said condo prices — now $500 to $700 a square foot — have nowhere to go but up. (more…)

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The nine Townhouses of Cobble Hill have sold out after hitting the market over a year ago at 110-126 Congress Street, according to PR reps for developers JMH Development and Madison Estates. The Morris Adjmi-designed homes debuted in May 2013 with asking prices ranging from $3,650,000 for a three-bedroom, five-bath house to $3,875,000 for a five-bedroom, five-bathroom one.

Meanwhile, in Prospect Lefferts Gardens, the four new-construction townhouses at 274-280 Hawthorne Street (above) are all in contract less than a month after listings appeared, Q at Parkside reported. The three-story, three-unit homes hit the market in mid-November, priced from $1,495,000 to $1,695,000.

That is very fast. The Q speculated the buyers are investors who plan to rent out the three-family houses. Based on the floor plans, prices, and the patterns we see in the area and elsewhere, we would have to agree.

274-280 Hawthorne [Q Parkside]
New-Construction Townhouses in PLG Start at $1.495 Million [Brownstoner]
Townhouses of Cobble Hill Coverage [Brownstoner]

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Prices of townhouses in Bed Stuy are quickly catching up to Clinton Hill and Park Slope. A townhouse at 242 Gates Avenue in Bed Stuy — not far from the Clinton Hill border at Classon — closed for $3,000,000 in recent weeks, eclipsing the previous record of $2,250,000 at 22 Arlington.

The sale has not yet hit public records, but the listed price and status of the listing on the Corcoran website changed Wednesday. A listing agent did not respond to a request for comment.

The house at 242 Gates was asking $2,650,000, so the sale was for $350,000 over ask, although the house is only 16.67 feet wide. It featured an unusual renovation by seller Eli Fernald of Ground Architecture & Building, according to BK to the Fullest. We described the vibe as “brownstone meets factory in the woods” when it was a House of the Day in July.

It is a few doors down from another record setting house, a very large Parfitt Brothers-designed Queen Anne townhouse at 254 Gates Avenue that appeared to be in perfect original condition with updates when it sold for $2,200,000 in 2013.

The house at 242 Gates Avenue previously changed hands in 2007 for $749,000, before the current renovation. GMAP

Update: We just heard from Corcoran agent Zachary Stackell, who let us know the sale closed Wednesday, November 26, and confirmed the sale price was $3,000,000.

A mansion at 45 Montgomery Place in Park Slope set a record for the neighborhood when it sold for $10,775,000 last month. It previously sold for $6,050,000 in 2006 and was asking $14,000,000 in 2013.

It is one of several houses in Park Slope asking more than $10,000,000 in the last two years, but the first to sell above that figure.

The 1890s house was designed by C.P.H. Gilbert and Babb, Cook & Willard, and sits half a block from Prospect Park, as we noted when it was a House of the Day in 2013. It has a dramatic round center staircase, a round dining room, butler’s pantry, servant’s quarters, an office suite with a gym, bathrooms with marble and patterned tile, an original Otis elevator, two La Cornue stoves as well as a Blue Star stove, and three Meile dishwashers.

The one-family house has 7,660 square feet and is 30.5 feet wide by 65 feet long. It sits on a lot that measures 30.5 feet by 87.92 feet.

It is the third most expensive townhouse sale in Brooklyn. In Brooklyn Heights, 70 Willow Street sold for $12,500,000 and 212 Columbia Street sold for $11,000,000, both in 2012.

Other pricey Park Slope mansions still looking for buyers include the former home of Jennifer Connelly at 17 Prospect Park West, asking $14,000,000; 105 8th Avenue, asking $13,000,000, down from $25,000,000; and the Foer-Krauss house at 646 2nd Street, now asking $13,000,000, down from $14,500,000.

Curbed was the first to write about the sale, which hit public records yesterday.

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The new-construction townhouse at 259 Hoyt Street whose construction we have been following is now on the market and asking $2,749,000. The interiors strike a nice balance between modern and traditional that seems well suited to the neighborhood, in our opinion.

The overall look is not unusual for new construction, with its modern staircase and rear wall open to the garden, but it looks better executed than most, at least in the photos. The moldings have a little more heft and detail than usual, the modern-style windows and doors look large and substantial, and the kitchens and baths are nicely understated.

It’s set up as an owner’s duplex over a two-bedroom garden rental. Click through to see more interior renderings.

We wish we had an updated photo of the exterior, and will try to get one soon. When we saw it last, it looked like it would fit in nicely with its older surroundings. The architect of record is Eric Safyan, according to permits.

Do you think this is an appealing new-construction townhouse? What do you think of the price?

259 Hoyt Street [Corcoran]
New Three-Story Brick House Going in on Hoyt [Brownstoner]
Photos by Corcoran
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Listings have gone up for four new-construction red brick townhouses at 274-280 Hawthorne Street in Prospect Lefferts Gardens, and they range in price from $1,495,000 to $1,695,000. The least expensive of the bunch, 278 Hawthorne Street, is already in contract, according to the listing. Contracts have been sent out on two others, leaving only the most expensive one, No. 274, according to a commenter on Curbed, which was the first to write about the listings.

At $1,495,000, the price of No. 278 is competitive with a 19th century house in the neighborhood in tip-top condition, but the other three are more expensive. All the houses have three units: An owner’s garden duplex (or triplex, if you count cellar space) that takes up one and a half floors, a half-floor one-bedroom rental, and a top floor three-bedroom rental. There is also outdoor space with each unit and parking for two cars in front.

We think the simple and modern design inside and out is easy on the eyes and fits in reasonably well with the neighborhood. Click through to see more pics. What do you think of the design and the prices?

274 Hawthorne Street Listing [Corcoran]
New Lefferts Garden Houses Drop Terrible Name, Ask $1.5M-Plus [Curbed]
Images by Corcoran

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Community Board 8′s Housing Committee greenlighted plans for two single-family passive-house townhouses on a small empty plot zoned for industrial at 8-10 Underhill Avenue. The property used to be a moving company and needed approvals because it’s zoned M-1.

Each house will have three stories and 2,400 square feet of space, according to building applications filed and disapproved in August. The townhouses will be narrow at only 15 feet wide each, since the property is only 30 feet wide. Their neighbors will be a self-storage company and an apartment building. Fractal Architecture is designing the project, and the owners are Post Industrial Thinking LLC, according to permits. The LLC purchased the 2,400-square-foot lot last year for $425,000.

Less than a block away at Underhill and Pacific, Hello Living has filed permits to convert a factory into eight single-family townhomes, as we reported in the spring. GMAP

Photo by Google Maps