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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
(more…)

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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

(more…)

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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

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The new construction green townhouse at 319 4th Street in Park Slope we have been following is on the market again and asking $4,625,000. That price puts it into the high end of Park Slope real estate for a two-family of its size.

It was developed by Seth Brown and last sold for 2,870,000 in 2011. We didn’t see it when it was finished. (Or perhaps it never was on the market before, but in any case, this is a resale.)

We think the look of both the exterior and interior turned out very well. Click through for interior and rear photos. What do you think of the design and the price?

319 4th Street Listing [Corcoran]
Green Build for 319 4th Street [Brownstoner]
Photo above by Nicholas Strini for PropertyShark; other photos by Corcoran (more…)

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The townhouse trend continues with plans filed for what is likely to be affordable housing on a stretch of empty city-owned lots on Lafayette Avenue in Bed Stuy. Permits call for three three-story two-family homes at 716-720 Lafayette Avenue. Each townhouse will have 2,376 square feet and be configured as an upper duplex over a ground floor apartment.

The architects of record are Curtis + Ginsberg, who helped design the affordable Navy Green project in Clinton Hill and have worked on mixed-income multifamily developments elsewhere in Brooklyn. Permits list the city’s Department of Housing Preservation and Development (HPD) as the owner. The city has owned the vacant lots since at least the mid-1980s, according to public records. GMAP

Image via Google Maps

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Yet another standalone Victorian in Prospect Lefferts Gardens is going to bite the dust, but instead of the usual multi-family apartment building, two new townhouses will rise in its place. Demolition applications were filed in early August to knock down the existing house, a two-and-a-half story single family wood frame with a turret at 272 Hawthorne Street.

The lot is 40 feet wide and 106 feet deep, with a freestanding garage in the back. Apparently the developer plans to divide this lot into 20-foot-wide lots and build two new three-story, two-family homes in its place, according to new building applications filed this morning. The houses at 272 Hawthorne Street and 270 Hawthorne Street, a new address, will each be 3,420 square feet and 30 feet tall, with a curb cut and parking for one car. They will be set up as one floor-through unit over a duplex, according to the Schedule A.

Kamran Badkobeh of Residential Development Group paid $1,100,000 in June for 272 Hawthorne. RDG built its business by buying foreclosed or distressed properties during the recession, fixing them up, and flipping them, The Real Deal reported in 2012.

The house stands next to four empty lots; bookending this row on the corner is another freestanding Victorian, which is in lis pendens. Residential Development Group also picked up two of those empty lots, Nos. 276 and 274 Hawthorne Street, in June last year for $1,400,000. On those two lots, the firm is building two three-story three-family houses, which have been in the works since 2007.  GMAP

Photo by Nicholas Strini for PropertyShark

 

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One-time Robert Scarano protege Nataliya Donskoy has designed glassy apartment buildings all over Williamsburg, and now she’s going a more traditional route with the look for yet another set of Brooklyn townhouses. The four four-story brick homes at 127-131 South 1st Street between Bedford and Berry will be configured with a triplex over a garden apartment. (The first floor units will have some additional space in the cellar, according to the Schedule A.)

Each townhouse will weigh in at 4,000 square feet, and have a private roof deck on the fourth floor setback, according to NY YIMBY.  New building applications for the project were filed in June and disapproved earlier this month. The developer is Investmates Real Estate, which bought the 15,000-square-foot lot for $3,750,000 in April.

We think the design is beautiful and understated, not boring. What do you think of it?

Revealed: 127-131 South 1st Street, Williamsburg Townhouses [NY YIMBY] GMAP
Rendering by ND Architecture and Design via NY YIMBY

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Two years after construction started, the Carlton Mews townhouses in Fort Greene look like they could be getting ready to hit the market. The stoops are in, and the five townhouses are ready for cornices. The neotraditional homes have all their windows and brick facades, and it looks like interior work is under way. Construction signage says they’ll be finished by December.

The project has come a long way since one of the townhouses collapsed, killing a construction worker in September 2012. (more…)