A remarkably high number of Brooklyn brownstone listings this spring and summer may indicate a wave of homeowners cashing in as property values reach new heights, The Observer noted Wednesday.
Without explicitly naming the neighborhoods or data sets that led them to this conclusion, The Observer offered anecdotal firepower to the claim that the current number of on-the-market townhouses in brownstone Brooklyn has increased. The pub counted 91 townhouses for sale in the spring and about 75 in the summer — many of the homes sporting “ridiculous” price tags.
“People have seen prices go up and they’re cashing out — when they see their neighbor sold their place for X, they wonder why they can’t get the same,” Town Residential broker Terry Naini is quoted as saying.
A decidedly modern take on Brooklyn’s new-townhouse trend, the six Townhouses of Wythe Lane have reached the third floor at 51 South 4th Street in Williamsburg. Marketing started before the first shovel broke ground here, in October last year, as we reported at the time.
Only two of the six townhouses formally hit the market with a listing (Nos. 3 and 4), but five are in contract, according to the development’s official website.
The previously published renderings show gray brick with large windows and a strong, simple design. Carefully planned greenery, such as a trellis going up the side and over the roof terrace, serves as architectural detail. (more…)
We caught the foundation in progress at 51 South 4th Street in Williamsburg, better known as the Townhouses of Wythe Lane, when we passed by recently. One of six townhouses planned here went on the market in October, priced at $3,995,000. The townhouse, whose address is 4 Wythe Lane, is in contract.
They are situated at the corner of Wythe Avenue and South 4th Street, next to Domino Site E, Domino’s first building project, and the former site of the temporary Havemeyer Park. (more…)
The scaffolding has come down on the exterior and the first two of seven brand new neo-traditional townhouses at 345-353 State Street in Boerum Hill are on the market. The exteriors are neo-Georgian, and now the listings reveal neo-traditional interiors to match, as well as elevators, green building features, and parking.
The developers are IBEC and Strategic Development Corp. and the architect of record is Steven F. Levine Architect. The townhouse at 349 State Street is a single family configuration asking $4,100,000. The townhouse at 349 A is a two-family and is priced at $4,300,000.
The interiors blend traditional design with contemporary features. (more…)
The remaining three “Four on Degraw” townhouses from developer H Holding Group are now up for sale, with an ask of $4,999,000 each. The first townhouse, No. 451, hit the market in April 2014 asking $1,000,000 less and is in contract.
Part of the Brooklyn new-construction townhouse trend, the residences are neo-Georgian on the outside and contemporary (and very luxurious) on the inside. The architect is Gerald J. Caliendo, who has designed quite a few midrange apartment buildings in Brooklyn. (more…)
The Piet Boon-designed The Oosten in South Williamsburg has risen to about six and a half out of its total seven stories, we saw when we stopped by Sunday. Workers have also started covering parts of the structure in gypsum and fiberglass insulating panels.
The building has risen to its full height on at least one of its corners, but still has one more story coming elsewhere, as the photos and previously published rendering below show. (more…)
Wood and brick Federal-style homes were among the first to be built in Brooklyn Heights, beginning in the 1820s. The oldest houses in the Heights still standing today were built in this decade.
The longest standing Brooklyn Heights houses reside on Willow, Hicks and Middagh streets. One of these is 84 Willow Street, which was listed in the first city directory of 1822, indicating that it is at least that old. A house at 68 Hicks Street was also listed in the 1822 directory.
In 1824, three more houses were built that are still standing today. These are 43 Willow Street, 30 Middagh Street and 24 Middagh Street. Conveniently, a plaque on 30 Middagh Street’s façade displays its year of construction. (more…)
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…)
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