110 Amity Back Up for Sale

The last piece of news to surface about efforts to develop the Lamm Institute and four adjacent lots at the corner of Amity and Henry Streets in Cobble Hill was when the Landmarks Preservation Commission sent the developers Lucky Boy and Time Equities back to the drawing board in July; by that point the commission had gotten comfortable with the rooftop addition proposed for the main building at 110 Amity Street but still was not down with the second iteration of drawings for the surrounding new townhouses. Since then it's been radio silence. Until this weekend, when a couple of sharp-eyed tipsters sent word that For Sale signs with the Corcoran logo went up on Friday at each separate property. The listing for Lamm hasn't hit the web yet, but there are listings up already for the four adjacents lots here with asking prices ranging from $1,175,000 to $1,400,000; the listings certainly suggest that LPC has approved the townhouse designs. And, conspiracy theorists, the broker is Catherine Wachtel, whose last name bears a striking resemblance to the principal of Lucky Boy. So now the big question is what the asking price will be. Remember, Time Equities paid $6,125,000 for the 13,750-square-foot building back in June 2007.
110 Amity: LPC Says Yes to Lamm, No to Townhouses [Brownstoner]
110 Amity Proposal Takes a Drubbing at LPC Hearing [Brownstoner]
Cobble Hill Association: 110 Amity Plan ‘Unacceptable’ [Brownstoner]
Opposition to 110 Amity Plans Grows [Brownstoner] GMAP
CB6 Tries to Avoid Amity Street Horror [Brownstoner]

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Hmmm.... overpay for a development site in a Not So Prime part of Cobble Hill then try to sell it as overpriced lots when you miss the market. Seems like a good strategy to me. Can't wait to see what they ask for the building. I can't wait to see what the building goes for.

Posted by: bklynbricks at March 9, 2009 10:18 AM

In 2007 the building was originally listed as "all offers considered".

I offered $1 million.

The broker thought that was funny since the owners hadn't bothered to set a minimum bid or even an asking price.

I'd still offer $1 million today.

Posted by: christopher at March 9, 2009 10:33 AM

I wonder which lot gets the abandoned car as the added bonus.....It's been sitting on the lot since the trucks were there for the clean out.

Posted by: CHMomma at March 9, 2009 10:43 AM

Really a disgrace for the a storied institution LICH is. That LAMM building is architecturally priceless but will be nice to see it restored.
Christopher the market is down but LAMM is NOT going to go for $1million even if the DOW hits 4000 points....the doctors will buy it themselves @ such a bargain and make it a residence hall.

Posted by: pierre de taille at March 9, 2009 8:45 PM

It's a beautiful piece of architecture, I hope something good comes of it.

Posted by: jasonliebe at March 10, 2009 1:24 PM

Corcoran has a listing for the building for $4.5 million....

Posted by: CHMomma at March 11, 2009 1:10 PM

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March 9, 2009

110 Amity Back Up for Sale

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