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October 29, 2008

Brooklyn Heights Mansion Fetches Record-Breaking Price

Talk about a trophy property. 88 Remsen Street, in Brooklyn Heights, sold for $10,800,000, nosing out 140 Columbia Heights—which went for $10.75M in '06—as the most expensive house sale ever reported in Brooklyn Heights, and one of the priciest residential properties ever to change hands in the borough. (There have been other Heights sales in this megabucks ballpark: 82 Remsen, for example, sold for $10.5 million in 2006.) The mansion at 88 Remsen went into contract early this year. The listing described it thus:

This home incorporates early Greek-Revival woodwork, which was later modified with post-Civil War period details. The rear addition and parlors on the main floor were remodeled in “colonial” or “Adam” fashion in 1906. This rare through-the-block property includes two buildings. The main house contains approximately 10,000 square feet over five stories, with beautiful wood detail, moldings and floors...The main entry to the carriage house is from Grace Court Alley, with a garage that can accommodate two cars. In addition, it has a wonderful, bright apartment above and a full cellar below with windows (which once provided horses with fresh air and light). The carriage house has separately metered utilities and its own furnace.This grand piece of history has been home to many fine families, including, for thirty years, the former chairman of Morgan Stanley.

Its buyer is a bit of a mystery, since he/she/they hid behind an LLC. Public records of the sale were also obscure and extremely confusing: The Dept. of Finance listed the sale price in one document as $6,480,000, with an additional transaction for $4,320,000 going to a mortgage payment between buyer and seller. (The full sale price on the deed, per city records, is on the jump.) Anyhow, Brown Harris Stevens, which brokered the deal with listing broker Kevin Carberry, confirmed the sale price was $10.8 million. GMAP

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Comments

The fact that this went into contract early this year just emphasizes the fact that this seems like a last gasp from the gilded age we were living in before things crashed.

Posted by: Miss Muffett at October 29, 2008 10:05 AM

This is sweet. DIBS, you still sticking by your prediction that 22 Remsen will go for under $4MM? Is our bet still on? http://www.brownstoner.com/brownstoner/archives/2008/10/house_of_the_da_583.php#comments

Even if 22 Remsen can't fully compare to 88 Remsen and even if the sale above was the "last gasp from the gilded age", is it really worth almost $7MM less?

Anyway, props to Mr. B for dropping the word mansion in the headline so we can all resume the debate on whether or not this truly constitutes one.

Posted by: Biff Champion at October 29, 2008 10:10 AM

SWEEEEET!!!

Biltomore it ain't, but a fine, fine house. I crave the rugs.

Posted by: bayridgegirl at October 29, 2008 10:14 AM

You call this a mansion?
This could fit in the breakfast room at the Breakers.
Sorry, this is a little carry-over from yesterday, you had to be there.

Posted by: sam at October 29, 2008 10:14 AM

I don't squelch on a bet Biff. The "gilded age" as we know it is gone forever. The reivival of Six Points Beer will bring with it the gang warfare that it was originally known for and percieved entitlements of the hoi polloi. As HobokenRocks predicts, this place will sell for $800k very soon!!! :)

Posted by: daveinbedstuy at October 29, 2008 10:16 AM

Don't know how it ever sold with no kitchen and bath photos.

Posted by: daveinbedstuy at October 29, 2008 10:18 AM

don't know what the fuss is about. it's only a brick carriage house!

Posted by: cb6 at October 29, 2008 10:19 AM

sam and dave (hey, that would be a great name for a band), those posts were both very funny!

Posted by: Biff Champion at October 29, 2008 10:20 AM

Sam, in reference to the other house, we concluded that it's an estate.

This property has two buildings therefore...it's a compound.

Posted by: bayridgegirl at October 29, 2008 10:29 AM

The facade of the house needs a little work, the carriage house is pretty close to perfection. All the mega-zillionaires on Grace Court Alley should get together and repave it in cobble stones. The blacktop is ugly and just doesn't go there.

Posted by: sam at October 29, 2008 10:38 AM

What happened to the mega listing overlooking the promenade? Was asking $21 million a few years ago, then I think $16 . . .

The house that was owned by the elderly couple that made hundreds of millions with Buffet. The passed away and it got sold for a few mill and needed work. And then got renovated up the wazoo by some Wall Street money.

Posted by: Johnny at October 29, 2008 11:30 AM

im in total agreeance. that doesnt look like a mansion to me. it just looks like a house in brooklyn. just cuz it's larger than most or has a mansion tax doesnt make it a mansion. perhaps i will just start calling my bedroom a palace.

-rob

Posted by: PitbullNYC at October 29, 2008 11:36 AM

um, it's agreement.

Posted by: cb6 at October 29, 2008 11:47 AM

$10.8m is a sweet roll of cash. But with the initial asking price $12,500,000, it took a nearly 15% haircut.

Negative Nancy, over and out.

Posted by: SnarkSlope at October 29, 2008 12:03 PM

quote:
um, it's agreement.

um, in case you havent noticed i dont really follow grammatical and other such rules when i post.

-rob

Posted by: PitbullNYC at October 29, 2008 12:16 PM

How does Kevin Carberry get all these listings? I mean, I love him but he never even had a website, etc until very recently (and I see he advertises on brownstoner).

He gets so many "gets" and I have never understood it.

Is he the most connected guy in all of Brooklyn Heights?

Posted by: Ringo at October 29, 2008 12:19 PM

I think he shows houses "by discreet appointment" only.
Sweet gig.

Posted by: sam at October 29, 2008 12:24 PM

Even if he split the fee with bhs and it was less than 6%, he still probably pulled down a quarter mill from this sale. Sweet indeed.

Posted by: NorthHeights at October 29, 2008 12:51 PM

I wonder if it will be turned into condos because it was purchased by an LLC......

Posted by: PHfamily at October 29, 2008 1:14 PM

By the way, looking at the pics for 82 Remsen on Corcoran's website - now THAT's a mansion. Much better deal at $10MM than this house.

Posted by: NorthHeights at October 29, 2008 1:15 PM

bought by Vbox Ventures LLC - and if you do search on VBox see a company that makes some digital TV receiver. Maybe that is a connection?

Posted by: Petebklyn at October 29, 2008 2:55 PM

I think the people on Columbia Heights paid for the views and the house had some prior history. (the Othmer's, made money from Warren Buffet)The house was sold in 1998 or 1999 for about 2 Million after the Othmer's died. How great real estate !. I really wonder if the previous sellers put atleast 2 million to 3 million restoring the place, that would let them sell the house for over 10 million. Anyway, Remsen Street is a beautiful block and the house is much better then Columbia Heights, since it includes a carrage house with parking for two cars and I believe great details and beautiful floors. (also I remember when I was looking to purchase years ago, a real estate broker inform me that Columbia Heights had to many rodents since it was near the promonade) That house I believe also has some history as well, since I remember going there for a party many years ago.

Posted by: CECILIA at March 26, 2009 11:44 PM

« Where Is Wasder? Price Hikes in Greenpoint? Say What? »

October 29, 2008

Brooklyn Heights Mansion Fetches Record-Breaking Price

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