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January 17, 2007

14 Townhouses Update: Slow Going, At Best

14 Townhouses
We were pleased to get an email over the transom giving us an update at the much-praised but evidently slow-selling 14 Townhouses. According to the Corcoran brokers, our source tells us, only 4 of the 14 have sold, with the larger versions proving more popular so far. Also, the purchases have skewed toward the middle of the block because of the large building that is slated to be built on the end of the block (on Boerum Place). List prices haven't budged — $2.75M for the larger "penthouse" version and $2.56M for the smaller "terrace" version (or about $740 per square foot) — but we're thinking there must be some flexibility at this point.
269 State Street [Corcoran] GMAP
273 State Street [Corcoran] GMAP
Open Season on 14 Townhouses [Brownstoner]




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Comments

they are gorgeous inside...saw one during that brooklyn design show in dumbo. any open houses coming up in there? i wanted my hubby to see too!

Posted by: modern in cg at January 17, 2007 10:31 AM

I walk by them everyday - I think they're the most butt ugly things I've ever seen.

Posted by: Anonymous at January 17, 2007 10:37 AM

I think they are ugly too. The inside looks beautiful in the corcoran pictures but until you look at it in person there's no way to tell if it has quality workmanship & appliances etc. Good Luck to whoever can come up with 2+ million dollars to buy one.

Posted by: Anonymous at January 17, 2007 10:52 AM

i actually think they are stunning. a really great updated take on the old rowhouses. i do wonder, though, who would pay that much for them when the view out the back is what it is. do they have decent yards?

Posted by: anonymous at January 17, 2007 10:54 AM

I like these. They remind me of Legos.

Posted by: Anonymous at January 17, 2007 10:58 AM

They sort of ruin the look of an otherwise lovely block. The gold trim on the outside (not sure if you can see from the pictures)is a bit crass. The insides do look nice but the outside is an abomination to good taste. Humf

Posted by: Jerry at January 17, 2007 11:01 AM

i like them.

Posted by: Anonymous at January 17, 2007 11:19 AM

the floor plans are dull. Why not buy an old brownstone and save a million bucks. Same plan. And no elevator? They missed a whole market of people wanting to relocate back to brooklyn who want to spend their final days there. Can't do that without elevators.

Posted by: Anonymous at January 17, 2007 11:23 AM

The real problem is that the backyards, and double height back windows back onto a very public parking lot on Schermerhorn Street. It might be a nice effect if you had a greater sense of privacy….

Posted by: Anonymous at January 17, 2007 11:26 AM

2.5 - 2.75 million dollars is alot of money to be on a nice block but in midths of a grimey area. For that price you'll get a back window view of ugly downtown brooklyn, a prison, the derelicts from the halfway house on Schemerhorn and the shadey characters who roam that part of Smith at night. If I had that kind of money I'd surely want to be on the other side of Atlantic or near prospect park.

Posted by: Joe from Flushing at January 17, 2007 11:29 AM

What was there before? Wasn't it a parking lot? While they may or may not be as nice as an old brownstone, they seem to be a lot better than a lot of the crap that goes up these days. If I lived across the street from them I would be pretty happy that a high rise condo building didn't go up instead.

For the people that don't like them, were you hoping for something else instead? Other than a park going there (which would never happen), I think that it could have been a lot worse.

Posted by: Wally at January 17, 2007 11:31 AM

if these were really in boerum hill (other side of atlantic) or cobble hill/carroll gardens/park slope they would have sold out at over $3 mill each by this point. but the location they are in is horrible. it's downtown brooklyn which is sleazy and crowded. the block is ok, but you can't really consider it to be boerum hill. even at 10% lower they won't sell quickly due to location. other than that it was a great idea.

Posted by: anon at January 17, 2007 11:38 AM

if these were really in boerum hill (other side of atlantic) or cobble hill/carroll gardens/park slope they would have sold out at over $3 mill each by this point. but the location they are in is horrible. it's downtown brooklyn which is sleazy and crowded. the block is ok, but you can't really consider it to be boerum hill. even at 10% lower they won't sell quickly due to location. other than that it was a great idea.

Posted by: anon at January 17, 2007 11:40 AM

Wally, I see your point. It could have been a lot worse...like a McDonalds perhaps...No seriously as ugly as they are you do have a point, but the real issue hear is the price tag on these bastard children aesthetic chintz.

Posted by: Jerry at January 17, 2007 11:42 AM

They seem crazy expensive for a sixteen-wide.

Posted by: Anonymous at January 17, 2007 11:43 AM

are these 50' deep (18 wide?). sq ftg doesn't seem right. is basement included in townhouse sq ftg?

Posted by: anon at January 17, 2007 11:53 AM

"Why not buy an old brownstone and save a million bucks."

i'm not saying i don't think these are overpriced, i really don't know, but considering the only renovation these would require is some paint, you don't "save" nearly as much as you think buying an old brownstone. these are probably vitually maintenance free for the next 10 years.

and you have to factor in the time, energy, sweat-equity, and headaches that inevitably comes with buying an old building.

i'm with you and dig the old stuff, but there is definitely something to be said for buying something in move-in condition with little to no maintenance/renovation required.

Posted by: Anonymous at January 17, 2007 11:54 AM

anon 11:38, they're totally in boerum hill. if you don't think state street is in the nabe, you don't know from bupkis.

i love the interiors. i agree, elevator might have enticed a few more folks.

yards are crummy. small without much privacy.

worth the price? i don't know. for me, if i had that $, i'd probably pick a more residential hood...

Posted by: Anonymous at January 17, 2007 11:58 AM

On the contrary, the peeps already on this block of State Street (I know for a fact) are thrilled. Their block finally has a beautiful continuity.

The interiors are outstanding. The finishes are first rate. No expense spared.

The only problem I've heard is that the developer should have allowed for a garden rental.

Posted by: Anonymous at January 17, 2007 12:09 PM

they are better than most new architecture in the city

better than the fedders
better than the glass cubes

Posted by: HAT3R at January 17, 2007 12:10 PM

You can literally move right into these beauties. And I'll tell you what, I am sick and tired off being in constant renovation on my brownstone. Looks pretty great if you ask me.

Posted by: Anonymous at January 17, 2007 12:14 PM

11:58 - The reason that are "thrilled" is because it's going to bring a circulation of millionaires to a scuzzy area. It's a lot nice to be followed by a guy in a suit than a one legged dude, who reeks of urine, that is followed you for a quarter. This side of Atlantic is full of creeps, hobos, and losers. It's like a freakin Tom Waits song.

Posted by: Anonymous at January 17, 2007 12:15 PM

when you're spending over $2.5 mill who wants a garden rental. if you can afford it most wouldn't want to deal with a tenant and they shouldn't need the money. if they need the income to get the house the they are stretching too much. also a a garden rental would ruin the entire design of the house. no more atrium or decent size living room, glass wall, etc

Posted by: anon at January 17, 2007 12:18 PM

12:15 - Bad spelling good point. I love state street - not this block per say but the next one over that runs to bond Street - but there are far too many shade balls who lurk here after dark. Also there are far far far better buildings in far better locations for in the 2.5 - 3 million dollar price range. I myself would not want to drop that sort of cash to live here. But you know what they say..."One is born every minute"

Posted by: Anonymous at January 17, 2007 12:22 PM

I love these but they are surrounded by construction on 3 sides. What was a parking lot behind them is now an active construction site. The Smith is under construction across the street and the corner of State and Smith opposite The Smith is slated for a new building soon too. Once the construction is done, I think these will sell easily at this price. Who pays this much to live with all that noise?

Posted by: trudy lou at January 17, 2007 12:36 PM

This is Boerum Hill, for sure. I lived on this block and loved it for 11 years, It is a great location. No sleaze vibe at all. This is a block from the A/C which is a great train. Easy to Manhattan and great shopping. I live on Prospect Park West now, and totally miss State Street. These townhouses are fine for the block but cost WAY too much. They are narrow and the "decorative" metal on the outside is total cheese. The yards are small, and the big windows in back look north onto crap. I'm surprised the prices haven't dropped yet. I bet they will.

Posted by: Anonymous at January 17, 2007 1:09 PM

1:09 it's about 4-5 blocks to the A/C - which is still sort of close but not quite that close. I somewhat agree with you on the sleez factor. Though State street only gets the ocassional sleezeball a block over is scuzzville. BUT there's always a cop on the corner. BUT for 2.5 million it's just not that type of block / area. It's close to that type of neighborhood (which you can buy into this for less than this price) but this is the wrong side of tracks. In a few years it may be nicer and worth 2.5 but right now - I think way less - like almost a million less.

Posted by: Anonymous at January 17, 2007 1:14 PM

Anon 11:58am -- I'm not 11:38am poster, but I have to agree that while these are "technically" in Boerum Hill, this does not have the same neighborhood feel as the area of Boerum Hill across Atlantic. It feels much more like downtown than a small neighborhood. Geographically you are only a block or two from it all, but it just isn't the same, and shouldn't command the same high price. I'd rather be stuck with the crummy F train service and live on another block than have the speedy A-train and live on State St.. But different strokes for different folks, as they say.

Posted by: Anonymous at January 17, 2007 1:26 PM

Construction zone is temporary and area is quickly becoming more populated as all those parking lots are being built. (plus 110 Livingston)
A/C station is Hoyt/Schermerhorn and this is on state (Schermerhorn is one street north) between Smith and Hoyt - so definitely very close to station,
new YMCA, Court st movie and Barnes/Noble and Smith street restaurants. Very attractive block...
And I live on other side(south) of Atlantic which I'm sure would be critiqued but all the naysayers as too close to projects.

Posted by: Anonymous at January 17, 2007 1:32 PM

1:32 I wouldn't critique you for being on your side of Atlantic, because it's the right side of the tracks. I would critique you on your use of Barnes of Noble as a selling point. Chain stores make a neighborhood less interesting.

Posted by: Anonymous at January 17, 2007 1:41 PM

I hear Trader Joes is going in under the BHD and that's just right around the corner - win, win.

Posted by: Anonymous at January 17, 2007 2:03 PM

You're right a win for the neighborhood but come on - no matter what you say these buildings are overpirced and thats the point. Someone before said they were overpriced by a million. I agre.

Posted by: Anonymous at January 17, 2007 2:12 PM

clearly most of you don't know this particular block; we're talkin' historically registered brownstones. Beautiful

Posted by: Anonymous at January 17, 2007 2:15 PM

Yeah beautiful except for these overpriced eyesores!!!

Posted by: Anonymous at January 17, 2007 2:17 PM

I know the block and know that these don;t fit in anywhere. Not to mention some of them are gray with gold steel trimmings that look almost brass. I also know there is a prison on the corner, a police station across from that, a halfway 2 blocks away and a back window that if you can manage to look past the parking lot - you might a beautiful view of a TGI Fridays or Mandee...All for the low price of 3 million dollars.

Posted by: Anonymous at January 17, 2007 2:26 PM

1:14, It really is only around a block to the hoytt-schemerhorn a/c stop. I'm not anon 1:09, but I used to live right around there.

Posted by: Anonymous at January 17, 2007 2:39 PM

2:39 you're right I was thinking Jay Street - my bad - still overpriced though.

Posted by: Anonymous at January 17, 2007 2:42 PM

"gold steel trimmings that look almost brass"

That's copper. DOH! It will oxidize to a beautiful urban green, seen all over the place. What in the Sam Hill is "gold steel".

I guess I am a little too "art school" for you Hallmark Card Victorian tastemakers, but I think these are some of the most beautiful buildings - bar none - that I have seen in NYC in years.

Posted by: Anonymous at January 17, 2007 2:50 PM

Dude your so art school

Posted by: Anonymous at January 17, 2007 2:56 PM

If you think are so beautiful I'd hate to see your art

Posted by: Anonymous at January 17, 2007 2:58 PM

These look amazing in the photos but seen in real life - with real brownstones across the street, a prison on the corner and a parking lot behind them. Their not that great, and the copper is sort of hideous. But a nice angle with the right light and little photoshop you turn Rosie O'donnel into babe. Maybe not.

Posted by: Anonymous at January 17, 2007 3:27 PM

The people supporting the look of these buildings must be looking at the website which is out of context. In the photos they look great. I especially like the couple who live in them (on the website) the hot asian woman with the young multi millionaire husband who apparently wears jeans and cook. The also leave fish out on the counter. Whole fish which to my estimation probably runs about 100 bucks. But what 100 bucks when you're living in 3 million dollar house. But back to the point, these houses may look great on the website but in real life they don't fit in. They're on the ugly side and frankly overpriced. They have top of the line everything but is on a nice block in a grimey area. For 2.5 there's a lot better.

Posted by: Anonymous at January 17, 2007 3:42 PM

At least the commenters on this site are equal oppurtunity haters. Most of the comments on this topic have been negative. Most of the post on the"Dekalb Lofts" are equally negative.

I like both these developements. They are at different price stratas, They are both overpriced, BUT the are BOTH significant improvements to what was there prior.

Basically, you MF's have no vision. Time will tell if these projects will be advantageous to the eventual buyers. I suspect they will if the future owner are thinking long term.

And I'm not a Broker, just a guy with vision who sold many of your ilk Browstones for $350K,$450K ,$550K+++....When I was getting them for sub $200K and they were just considered "Ghetto properties".

Thank You, for your lack of foresight.

Posted by: Your vision is blurry at January 17, 2007 3:59 PM

I like these as a modern version of rowhouses (that look lonely right now), agree that the copper will develop a beautiful patina, agree that it looks like crap now, and can't argue with the location problem. I can argue that the problem is going away, though.

Either Fulton Street or Atlantic Ave. is going to go upmarket retail in the next five years, and maybe both. When the construction around them finishes, the surroundings won't be nearly as hostile, and by the time everything settles in (5-10 years) the market value on these could explode. Given that, the developer tried to get a piece of that action in his/her pricing.

Your choice as a buyer is to pay a premium of .5M (at 1M less these are <500psf, and that's not happening) for whatever you think the "pop" will be, or you can pay a premium of 1M or more to get equivalent space on one of the nearby "pretty" blocks and deal with having an old house (for better and for worse). I'm grateful for having the option. I don't know what FAR is on those lots, but I'll bet the developer could have squeezed out more cash for less cost, and I'm glad he/she didn't make that choice.

Posted by: anon at January 17, 2007 4:20 PM

Cont'd from above...

Your choice as a buyer is to pay a premium of .5M (at 1M less these are <500psf, and that's not happening) for whatever you think the "pop" will be, or you can pay a premium of 1M or more to get equivalent space on one of the nearby "pretty" blocks and deal with having an old house (for better and for worse). I'm grateful for having the option. I don't know what FAR is on those lots, but I'll bet the developer could have squeezed out more cash for less cost, and I'm glad he/she didn't make that choice.

Posted by: anon at January 17, 2007 4:23 PM

I think they are decent but overpriced when compared to comparable Brownstones in better areas nearby.

However for all those saying how great it would be to move into a maintinance free home, you clearly havent moved into any new construction - now it is likely the builder will pay for any repairs but it is highly unlikely that any new home wont have problems like leaks, drafts etc, etc, and this is for new homes at all price levels -

Also the 'right side of the tracks' for these properties isnt south of Atlantic - its west of Court.

Posted by: David at January 17, 2007 4:26 PM

Apart from the price, there are a few problems with the layouts:
1) Very few people have single-family four or five-storey brownstones. Walking up and down the stairs is too much of a PITA
2) You don't put the master bedroom on the top floor and the kitchen on the bottom floor -- it makes too much of a walk
3) There aren't enough bedrooms -- the traditional brownstone had some small servant's rooms that were used for servants.
4) Very few families with children can afford these houses, and if you've got small kids, you'll be hauling them all over
5) 2 bathrooms on one floor is a monster waste of space

I think that the problem is that these houses are too big to be easily salable without the garden rental, and the layout makes you move all over the house. I also am not fond of the double-height dining room at the expense of losing an extra room -- I would jave just put kitchen, living, and dining rooms on one floor.

Posted by: Anonymous at January 17, 2007 7:38 PM

I saw these recently. Commenters above are right - these really are great spaces inside, it is once you get outside (construction, jail, etc.) that you begin to wonder if the price is right. I don't believe that these are overpriced by $1MM, it is something less than that. my guess is 15-20% too high, which would put these at around $2.3MM or so. i wonder what the 4 who are already there paid relative to ask? my guess is that these "early adopters" are people who cherish the unique design so much that they are willing to pay what it takes, so i would bet they paid ask or close to.

Posted by: Anonymous at January 17, 2007 8:24 PM

Oops - 8:24 poster, meant to say they are priced 10-15% too high, not 15-20%.

Posted by: Anonymous at January 17, 2007 8:26 PM

New construction IS NOT maintenance free! A couple of years ago (on a rainy day) I went with an architect and engineer relative of mine to look at a few properties. One was a brand new townhouse with all high-end finishes. I thought it looked great but my archi relatives immediately noticed design flaws and shoddy contruction. When we got to the roof deck, there was a pool of water about 1 foot high--no where to drain--way bad he said. Than we went to the garden level, which also looked nicely finished until we walked into the bedroom. There was a WATERFALL from the ceiling all over the brand new wood floors. Never seen anything like it--really, like Niagra Falls in Brooklyn..the realtor shut the door and said "oh, its not problem, we can fix it" and literally pushed us onto the sidewalk so we could'nt see anymore bad contstruction, sugar-coated to look nice. We bought an old brownstone and yes, there's a lot of upkeep, but I know the things solid and won't fall over with a stiff wind.

Posted by: Anonymous at January 18, 2007 6:25 AM

What other 'modern' townhouses do we have? There is one for sale (featured on this site few weeks back) on Butler off Hoyt - for $2.25 that is smaller with a rental and garage. I remember oen on Sackett off Smith last year that although old exterior - was expanded with very modern interior which was approx. these prices.

Posted by: Anonymous at January 18, 2007 9:18 AM

I think the problem with these very nice houses is that the glass wall will face a huge nasty cheap rental or office building which will no doubt be built to the lot line behind them. Check out the buildings being built on Schemerhorn one block west of the townhouses and you will see what's in store: a brick wall seven stories tall 20 feet from the glass wall of the two-story kitchen.

Posted by: brooklynite at January 18, 2007 11:15 AM

It's nice to see something finally being built on State St. I lived on Bridge St. (continuation of Hoyt) for 6 years, and all that was over there on Schermerhorn was empty lots and government/state offices. It was so desolate, esp. on weekends and at night. I used to walk down State St. and admire the beautiful 1840s brick houses (almost like Boston's Beacon Hill), and wonder who was the criminal who razed the whole row on the north side of the street.

Posted by: carla at January 18, 2007 6:36 PM

Seems like a better use of this land, which is too into Downtown Brooklyn tobe single-family-comfortable anymore, would have been a highrise. The scale is too quaint for what's around. I know the block was originally small but now it's all parking lots and too close to big stuff -- what's done is done. A big ass building would be more comfortable to live in at this spot, and frankly, a more efficient use of scarce land. They should be building townhouses for small infill and farther out in BK, not downtown.

Posted by: Jeremy at January 18, 2007 6:49 PM

Attractive townhouses that riff off 19th century brownstone vernacular without stupidly trying to replicate an actual old building. I haven't heard of any construction problems with these. My guess is sales are slow due to fear of living next to high-rise construciton for a few years.

Posted by: Brownstone Ma at January 22, 2007 12:31 PM

I think this modern take on the brownstone is a tough niche. Given the prices and designs, these buildings are trying to reach an extremely wealthy buyer who could live anywhere but really wants a private house in Brooklyn, has modern tastes and doesn't want to renovate.

Would it surprise anyone to find this group is small? If this site is any measure, people drawn to brownstone brooklyn really value period charm and the solidity of older buildings - even it they update it/combine it with modern design.

Without that unique period detail or a great location, I think many modern design fans in this price range would be more drawn to a penthouse condo, which would offer more open floorplans, a terrace with a nicer view and building amenities such as a concierge, gym, etc.

Posted by: eeeck at January 22, 2007 1:11 PM

A high-rise was probably not an option on this site because across the street is a row of Brownstones that are all on the National Register of Historic Places. Then again, I don't know if that could have been used to control what went here or not. Regardless, I think building these beautiful, modern interpretations of the rowhouse is a fabulous idea. (Can you imagine how hideous it would be if today's builders attempted to replicate 1879 Neo-Grecians? I shudder to imagine.) But I wouldn't buy one of these bad boys--even if the price were low. We had once planned to go to an open house at one of the old ones across the street, and we didn't even bother to go inside after we saw the neighborhood for all the reasons cited above (loud, commercial, prison, skeevy downtown). Buyers are probably (and justifiably) especially concerned about what's going to be built behind them. An office building? Bad. A McDonald's? Suicide time.

Posted by: anon at February 6, 2007 7:09 PM

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