Alloy Development’s concrete-clad townhouses at 55-57 Pearl Street in Dumbo are almost finished and looking good. The five modern townhouses have been in the works for nearly a year, and they hit the market with renderings for $4,100,000 a pop back when the corner site was just a garage. Now they’re all sold out, according to the development’s website.
The five-story homes share a facade made of one-foot-deep concrete ductal fins. The ground floor facade will be wood, but it hasn’t been installed yet. Each house will have four bedrooms, three baths, a one-car garage and private outdoor space.
With townhouses in “emerging” areas of Brooklyn closing for double what they were two years ago, the gap between, say, Bed Stuy or Crown Heights and Park Slope has been narrowing. We have been wondering if and when prices in Park Slope would shoot up. Well, now it looks like they will.
The Park Slope brownstone with a mostly modern renovation by CWB Architects at 250 Garfield Place, above, a House of the Day in February, is in contract after 23 days on the market. We won’t know, of course, what the final sale price is until the transaction closes and appears in public records, but usually a brief time to contract indicates a price at or above ask. If it does go for ask, $7,500,000, that would pencil out to about $1,802 per square foot, an extremely high figure for Brooklyn. (PropertyShark puts the house at 4,160 square feet.)
The pending sale is significant because, until now, most top-of-the-line row houses in Park Slope could be had between $3,500,000 and $4,500,000, a figure that has not changed much in the past five years or so. True, a handful of Park Slope houses have sold for more, but typically those fell into the “mansion” category in one way or another. And despite quite a few listings asking over $10,000,000 in the last few years, that barrier has proven a tough nut to crack for most, even for double- or triple-size properties with gardens and garages, such as 646 2nd Street, the former residence of writers Jonathan Safran Foer and Nicole Krauss. (It’s still available, by the way, and asking $13,000,000.)
The house at 250 Garfield isn’t the only high-ticket Park Slope house to be snapped up this month. The house at 930 President Street, asking 5,850,000, also has a signed contract, after 47 days on the market, according to StreetEasy. However, a House of the Day twice, it was on and off the market with different agents and listings (and a slightly lower price) in 2013 and did not sell.
New building applications were filed last week for five three-story townhouses on Park Avenue, next to the BQE in Wallabout. The houses at 306-314 Park Avenue will have three units each and range in size from 1,525 square feet to 1,750 square feet. It’s not the most optimal location for housing, but with three units each (and small ones at that), they’re probably intended as rental investment properties.
The applicant of record is BTE Design Services, and Moses Guttman is the developer. It looks like Guttman bought up the series of vacant properties at Park Avenue and Ryerson Street for a combined $210,000 over the last two years, according to publicrecords. GMAP
This may look like a renovation of an existing building, but in fact it is a brand new townhouse going up at 112 South 1st Street in South Williamsburg. The project is one of at least 10 new townhouses in three developments going up in this neck of the woods, according to the tipster who sent us these photos.
(The others include one across the street on what is now a parking lot and the Meshberg and Wythe Lane projects, which we’ll continue to cover as construction progresses.)
This one is designed by architect Steven Kratchman. It will house one family over four floors, according to permits. There will be parking on the ground floor, and the addition visible on the roof is only a bulkhead for the stair, according to the Schedule A.
Click through to see a rendering. The proportions and the garage door design look nice to us. It replaced a one-story garage. What do you think of it? GMAP
A new building is rising at 9 Old Fulton Street in Dumbo, a deep but narrow lot that’s been empty since before the block was landmarked. The four-story building will have three apartments and 1,224 square feet of commercial space with a restaurant, according to permits issued last year. But construction might be paused for the moment, after the city issued a partial stop work order late last month.
Thomas van den Bout of N/Vdesign architecture is designing the project, which looks like it will fit in with the block perfectly. The 1,387-square-foot plot once housed a building from the 1840s, but it was demolished sometime before the Fulton Ferry District was landmarked in 1977. Landmarks approved the new design in 2010 after a series of public hearings.
A drive down Bushwick Avenue Sunday revealed three new holes where 19th century buildings used to be. At least one, and possibly all three buildings, was a mid-19th century Italianate; all are on oversize lots. The longtime owners got relatively little for the properties, where two developers are planning two medium-size apartment buildings with 20 and 14 units each.
All three houses had been altered over the years, obscuring their origins. No. 894 Bushwick Avenue, which is now gone, was an Italianate wedding cake of a house, with a porch with fanciful brackets spanning its width. The narrower house next door at No. 890 appeared to be a brick house built in the teens, but its oversize lot indicates it could have been much older or had replaced an older house. It is also now gone.
Further up the street at 774 Bushwick Avenue is another 19th century wood frame building with tall arched windows that might have once looked much like No. 894, or it could be a later house, perhaps from the 1890s. It has been partly demolished. We found a rendering on the fence of the modern apartment building, above, that will replace it. (more…)
Entourage star Adrian Grenier and his real estate broker mom recently bought a second Clinton Hill townhouse, a four-family, five-story brownstone at 112 Gates Avenue. 6sqft was the first to write about the sale, which closed for $2,085,000 in December. We couldn’t find any listings for the house, which 6sqft claims was an estate sale with lots of details, including high ceilings, ornate plaster details on the ceiling, and parquet floors.
It’s not far from the wood-frame home at 430 Grand Avenue the duo renovated with solar panels and recycled denim insulation back in 2006. Grenier also owns a townhouse in Prospect Lefferts Gardens at 239 Lincoln Road, which he purchased solo in 2010 for $899,000.
It’s unclear whether the actor or Brown Harris Stevens broker Karesse Grenier plan to live in the Gates Avenue house or use it as an investment property. Both also share an address at a rental building designed by Rosario Candela in Morningside Heights. Click through for shots of some ceiling detail at Gates Avenue.
A Brooklyn Heights mansion with a storied past at 3 Pierrepont Place has just hit the market for $40,000,000 – making it Brooklyn’s most expensive townhouse listing, probably ever. Corcoran’s Vicki Negron has the listing, which The Wall Street Journal was the first to write about, this afternoon.
The semi-attached Italianate brownstone, built in 1857, was famously home to Seth Low II, who served as mayor of Brooklyn in the 1880s, and later, mayor of New York. Perched on a cliff, it overlooks the Brooklyn Heights Promenade and Brooklyn Bridge Park, with views of the East River, Statue of Liberty and Manhattan.
Owner Jeff Keil bought the house for $2,300,000 in 1991, according to the Journal. He and his partner live in a five-bedroom duplex in the building. The 17,500-square-foot home has eight apartments. The current tenants are on short-term leases, and the house can be sold vacant, Keil told WSJ. Architect Frederick A. Petersen designed the house, which features a staggering level of ornate detail on a 9,000-square-foot lot. Click through for more photos of the interior.
The current record for the most expensive townhouse sale in the borough is, of course, the Greek Revival mansion at 70 Willow Street, which sold for $12,500,000 in 2012. Do you think the seller will get ask?
We’re amazed to read that a Manhattan buyer has purchased a new-construction townhouse at 832 Dean Street in Crown Heights for $3,450,000, setting a new record for the price of a townhouse sale in the neighborhood. The sale closed recently, according to the New York Post, but has yet to hit public records.
Built in 2013, the house has three units and three stories, for a total of 3,960 square feet, according to PropertyShark. So that works out to $871 per square foot — reasonable compared to the square foot cost of condos in prime Brooklyn neighborhoods, which are now over $1,000, but pricey for a Crown Heights townhouse, even a top-of-the-line one. The house is close to Washington Avenue and the Prospect Heights border, where real estate is more expensive.
The buyer sold a townhouse in Chelsea, according to the Post.
Renderings on the Douglas Elliman listing show a typical new-construction interior, similar to a Williamsburg luxury condo, but with fairly high-level finishes and somewhat traditional styling, including floors that look old and have borders. Each unit is a two-bedroom, two-bath floor-through, except the top apartment, which is a duplex with an additional bedroom and bath in a hidden setback with a roof deck.
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?
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.
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…)