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20 Henry Street Condos Officially Hit the Market
The old the Peaks Mason Mints candy factory, aka 20 Henry Street, launched sales today after a five-year drumroll. There are 38 residences throughout the old factory building (pictured) and the addition next door on Poplar Street (pictured here). Units range from studios to four-bedrooms, priced from $450,000 to $2.595 million. There are also six penthouses, asking $2.1 to $2.55 million. It’s been a long road for this development: After getting approval from LPC in 2006, 20 Henry Street first launched sales in 2008, ran into some legal troubles, then finally got the reboot last year. How do you think it’ll do this time around?
20 Henry Street Hitting Market Next Month [Brownstoner]
20 Henry Addition Loses Scaffolding, Gets Bricked [Brownstoner]
Development Watch: 20 Henry Street [Brownstoner]
Beams Rising at 20 Henry Addition [Brownstoner]
20 Henry Indeed Getting a Reboot! [Brownstoner] GMAP
02/09/2012 2:00 PM
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Bed Stuy Condo The Shelton Hits the Open Market
When we last checked in at Bed Stuy condo development The Shelton (forever ago) the building was still under construction. Lots has happened since then! 30 percent of the building was leased through an HDC lottery process this January. Now, according to a press release, “All of the remaining units are now available on the open market on a first come, first served basis to buyers with total household incomes varying between $39,612 and $166,075. This gives qualified buyers an opportunity to purchase affordable homes without going through the lottery system.” The remaining one bedrooms are priced from $115,000 to $249,500, two bedrooms from $142,000 to $456,500 and three bedrooms from $387,500 to $455,000. There are more details at the website. Amenities here include a part-time doorman; a common courtyard; a fitness room; bike storage; and underground parking. In a deal with St. Phillip’s Christian Church, who sold the development property, there’s a 8,600 square-foot multi-purpose community center with a full-size basketball court, two classrooms and office space for the church. St. Phillip’s plans to make the space available for community events.
The Shelton [Main Site]
The Shelton Gets Bricked [Brownstoner]
Bed Stuy’s The Shelton Tops Off [Brownstoner] GMAP
02/08/2012 11:00 AM
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Fino 122 Getting Ready for Takeoff
Signage recently graced the face of the development 122 Adelphi Street in Fort Greene which now goes by the moniker of Fino 122. According to the project website, there will be studios as well as a mix of one-, two- and three-bedroom condos. Pricing hasn’t been released yet. This build, affectionately referred to around here as the Adelphi Finger, has been in the works since 2009.
Development Watch: 122 Adelphi Shows Itself [Brownstoner]
Development Watch: Adelphi Finger Tops Out [Brownstoner]
Development Watch: Adelphi Finger Half Way There [Brownstoner]
Development Watch: Adelphi Finger Rising [Brownstoner]
Fort Greene About to Get Fingered [Brownstoner] GMAP
FG/CH Vesting: The Winners and Losers [Brownstoner] P*Shark DOB
Luxury (Or, More Likely, Not) On Adelphi Fringe [Brownstoner]
02/06/2012 11:00 AM
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Settlement in Lawsuit Over Defects at 50 Bridge Street
This morning a press release went out about how condo owners at 50 Bridge Street, also known as Bridge No. 50, have reached a settlement in a lawsuit brought against the building’s developer “and certain of its affiliates.” (The developer in question is the notorious Joshua Guttman.) The suit dates back to 2007 and, according to the release, concerned how the building “suffered from a number of construction defects including a defective roof and other waterproofing issues.” Representatives from the condo board declined to tell us exactly how much the settlement was for except to say that it’s “a significant dollar amount that combined with some special assessments within the building, will allow the building to fix the construction issues.” Repairs are supposed to begin later this year. The building was converted into a condo in 2004. GMAP
02/01/2012 11:00 AM
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Negotiations Underway for Failed Carroll Gardens Condo
What’s doing at 111 Luquer Street, the condo building that was put up for sale in December? Back then, there was word that a deal for the property was expected by the end of the year, but that failed to happen. A broker working with the property says there’s been a good deal of interest and that the developers are “currently negotiating several offers.” Nothing concrete has come through, though, and the building is still listed on StreetEasy for $15.5 million. It’s now being pitched as a potential rental. Condo units here were priced between $599,000 and $849,000 when it was briefly on the market last year.
100 Luquer Street Building on the Market, Going Rental [Brownstoner]
100 Luquer Officially Goes on Sale This Sunday [Brownstoner]
Coming Soon: Listings for Carroll Gardens’ 100 Luquer [Brownstoner]
100 Luquer [Official Site]
Life at Formerly Stalled Luquer Street Sites [Brownstoner]
Reboot Under Way at 100 Luquer [Brownstoner] GMAP
02/01/2012 10:30 AM
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Bed-Stuy Condo 111 Monroe All Spoken For
The last unit on the market in the Bed-Stuy condo building 111 Monroe Street is in contact, according to Streeteasy and a broker representing the development. The building first hit the market in early 2009. A round of substantial price cuts was put into place shortly after that, and a grocery moved into the ground floor last year. Prices for the 29 one- and two-bedroom units ranged from $315,000 up to $469,482.
111 Monroe 70 Percent Sold [Brownstoner]
111 Monroe Passes 50% Mark [Brownstoner] GMAP
Big Price Cuts at 111 Monroe Street [Brownstoner]
Price Cuts at 111 Monroe Street [Brownstoner]
111 Monroe Street: Let’s Do the Time Warp Again [Brownstoner]
1142 Bedford Avenue Nearing Completion [Brownstoner]
02/01/2012 10:00 AM
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First Few New-Old Listings Trickle in for 20 Bayard
The problem-plagued Williamsburg development 20 Bayard got a second shot at life when an investment firm purchased 37 unsold units in the building last fall for $25 million. Now the first few listings of condos acquired in the sale have made it online. All three of the units currently for sale are one-bedrooms. One of them is a 670-square-foot condo asking $535,000 that was originally on the market for $625,000 in 2007 and was last going for $499,000 in 2009, before the listing was pulled. Another is an 812-square-foot pad asking $635,000 that was first listed for $615,000 in 2008. According to the Real Deal, the original developers sold 25 units in the building between 2007 and 2009 before defaulting on debt.
20 Bayard Listings [StreetEasy]
Unsold Units at Williamsburg’s 20 Bayard Change Hands [Brownstoner]
Less Money, Mo Problems for 20 Bayard Developer [Brownstoner]
20 Bayard Goes Belly Up [Brownstoner] GMAP
01/31/2012 10:01 AM
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Here’s How the Tweaked Design for 30 Henry Turned Out
The Eagle got its hands on the “modified” rendering for the new condo planned at 30 Henry Street in Brooklyn Heights, as shown above. The new design, which Landmarks green-lighted last week, is almost a carbon copy of the first rendering for the building. It could very well be a trick of light, but it looks like one new element might be a slightly darker color of brick on the facade. The Brooklyn Heights Association went called the first design “boring.”
Modified Design for 30 Henry St. Unveiled [Eagle]
Find the Changes In New Improved 30 Henry Street Proposal [McBrooklyn]
01/27/2012 11:30 AM
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Williamsburg’s Jardin, Heights’ 75 Clinton Going Rental
Yesterday there was news about two condos that hit the market relatively recently going rental: Curbed noted that the Williamsburg condo building Jardin is making the switch, and Crain’s reported that Brooklyn Heights’ 75 Clinton is also turning rental. There had been 23 contracts signed at Jardin, which is on North 6th Street between Berry and Bedford, and a tipster tells Curbed buyers are being fully refunded. Prices were running around $770 a foot. Meanwhile, in Brooklyn Heights, 75 Clinton was purchased by the firm Invesco, and rents in the 74-unit building will run from $2,800 to $7,000 a month, according to Crain’s.
Williamsburg Condo Jardin Refunding Buyers, Going Rental [Curbed] GMAP
Another Bklyn Condo Project Goes Rental [Crain's] GMAP
01/27/2012 9:00 AM
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Condo of the Day: 70 Washington Street, #4LC
This 1,550-square-foot loft at 70 Washington Street in Dumbo came on the market a couple of days ago asking $1,380,000. Like all the units in the building, it’s got a nice kitchen and bathrooms, a generous common area and high ceilings. Its achilles heel, like many one bedrooms in the building, is the fact that its second bedroom is windowless (so, technically, it’s not a second bedroom). So, killer bachelor pad, less perfect family apartment. On a per-square-foot basis this unit’s priced in line with the many other listings in the building.
70 Washington Street, #4LC [Thomas & Ingram Real Estate] GMAP P*Shark
01/26/2012 12:56 PM
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Marketing Begins for 107 Prospect Park West
The conversion of the Park Slope property at 107 Prospect Park West continues, and its brokers have started pre-marketing the future condos in the Park Slope building. A sign on the side of the scaffolding advertises a website that reveals the property’s tagline: “The Mansion Life, Reimagined.” Prices have yet to be listed. The building, which is on the corner of 6th Street, will have five units when the conversion is finished later this year.
107 Prospect Park West [Official Site]
Details on a Prospect Park West Conversion [Brownstoner]
Behind Closed Doors at 107 Prospect Park West [Brownstoner]
01/23/2012 2:40 PM
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Condo of the Day: 70 Washington Street, #2M
This new listing at 70 Washington Street is either really cheap or really expensive, depending on how you value the huge, windowless lower space. In addition to the media-room-slash-pool-hall, the one-bedroom pad also features a 580-square-foot terrace. Overall, there’s almost 2,800 square feet of interior space. The asking price is $1,675,000. Cheap or expensive: You decide.
70 Washington Street, #2M [Halstead] GMAP P*Shark
01/17/2012 12:56 PM
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New Brokers, Some Price Cuts for OPP’s Remaining Units
We haven’t checked in on sales at the Richard Meier-designed On Prospect Park for quite some time, but a press release that was sent out this morning brings us up-to-date on what’s going on with the condo: Brown Harris Stevens is the development’s new broker, taking over from Corcoran to market the remaining 21 unsold units in the building. The release notes that 10 of the unsold condos have been put on the market and that some are “price-improved.” A quick scan of StreetEasy reveals some of the price cuts: A two-bedroom that was listed for $935,000 when Corcoran had the listing is now asking $850,000; another two bedroom has dropped in price from $945,000 to $895,000; and a three-bedroom last listed for $1,800,000 is now asking $1,700,000. The building is 80 percent sold overall.
1 Grand Army Plaza Listings [Brown Harris Stevens]
Sales March on at On Prospect Park [Brownstoner] GMAP
01/12/2012 11:00 AM
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LPC: 30 Henry Design Could be Better
The Eagle files an extensive report about yesterday’s Landmarks Preservation Commission hearing about the plans for the new building at 30 Henry Street in Brooklyn Heights. The commissioners ultimately asked the developer and BKSK Architects to tweak the design, saying details such as the entryway could be improved upon, with LPC Chair Robert Tierney noting that “I find it appropriate now and I would openly embrace it, but I agree with my colleagues that it could be a better building.” Some preservationists spoke in favor of the current design, calling it contextual and appropriate, but reps from the Brooklyn Heights Association called it “boring” and argued for a more contemporary look. Architect Jonathan Marvel, for example, had the following to say: “It’s a threshold site to this district. It’s not an infill building, but a gateway building. …We implore you to inspire, to delight, to raise the bar on originality.”
Design of New Heights Building: Mishmash of Contextualism or Appropriate? [Eagle]
30 Henry Application Returns to Landmarks Tomorrow [Brownstoner]
No Decision From LPC on 30 Henry Build [Brownstoner]
Renderings Revealed for 30 Henry Street [Brownstoner]
30 Henry Street Chasing a Waterfall [Brownstoner]
Brooklyn Eagle Building on the Market [Brownstoner] GMAP
01/11/2012 9:00 AM
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Dumbo’s Clocktower Penthouse Now Asking a Mere $19M
Yesterday the Real Deal reported that the price of the most expensive listing in Brooklyn, the triplex penthouse at One Main Street in Dumbo, had dropped from $23.5 million to $19 million. The price cut follows the condo’s drop in asking price last April from $25 million; the Two Trees-owned property was initially put on the market in 2009. Asher Abehsera, managing director of residential properties for Two Trees Management, tells the mag that the brokers “may aim to capitalize on the new tech status of the surrounding neighborhood, Dumbo. ‘A gentleman already came from Silicon Valley [to look at the apartment,]‘ he said. ‘He was probably one of the most successful people in the industry.’” If the triplex sells within $7 million or so of its current asking price it will be the priciest property to ever sell in Brooklyn.
Clock Tower Penthouse Cuts Asking Price to $19M [TRD] GMAP
Kleier’s Pricechop Clocktower Penthouse Down to $19 Million [Curbed]
01/10/2012 10:00 AM
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Condo of the Day: 161 North 4th Street, #4F
Remember the condo project known as NForth? The oddly-named but not bad looking development was on the market back in 2008 and 2009. It’s conveniently located at the corner of Driggs Avenue and, yes, you guessed it, North 4th Street in Billyburg. A one bedroom that sold for just a smidge over $630,000 two years ago has been put back on the market with a price tag of $645,000, not a crazy mark-up at all given that the Brooklyn the local market is arguably more stable now. The 740-square-foot pad comes with a good-sized roof terrace and monthly common charges of $483. You dig?
161 North 4th Street [Corcoran] GMAP P*Shark
01/09/2012 12:57 PM
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233 Pacific Street is 25 Percent Sold
According to a broker at the site, 233 Pacific Street is 25 percent sold. The building launched this summer as the sister building to the sold-out condo development 225 Pacific. This phase consists of 28 condominiums, whereas there were 14 in 225 Pacific Street. Not all of the building’s condos have hit the market; StreetEasy currently shows seven units for sale, ranging in price from $1,075,000 to $1,950,000.
223 Pacific Readies Full Launch [Brownstoner]
Sales Launch at 233 Pacific Street [Brownstoner] GMAP
01/06/2012 9:30 AM
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Condo of the Day: 140 Degraw Street, #2
When 140 Degraw Street was getting built in 2007, most people didn’t know what to make of the non-right-angled facade that broke up the continuity of old row houses on the Columbia Waterfront District block. We’ll admit to having been skeptical but we’ll also admit that, based on this resale listing that just hit the market, the interiors turned out quite nicely. (Remember, this wasn’t actually a new building; it was a new facade plus an interior renovation.) Anyway, the kitchen’s well done, there appears to be good light and the location’s in the eye of the beholder. The asking price is $750,000. Thoughts?
140 Degraw Street, #2 [Douglas Elliman] GMAP P*Shark
01/03/2012 12:55 PM
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The Condo-to-Rental Gambit
The Wall Street Journal has an article following up on the news we reported yesterday about how the developer of Carroll Gardens’ 100 Luquer Street is abandoning plans to sell the project as a condo and is instead looking for an investor to buy the building and turn it into a rental. The story is interesting insofar as it looks into how much financial sense a move like this makes nowadays. The article cites 360 Smith Street, where units are renting for $50 a foot, as an example of what condos-to-rentals can bring in for owners. And the 4th Avenue building Arias Park Slope, which sold to an investor for $60 million and is now operating as a rental after being built as a condo, is given as an example of how much new developments can rake in. The 20-unit 100 Luquer is being marketed for $15.5 million. While there are a bunch of quotes from the developers and marketers of 100 Luquer claiming they’re confident the building could have eventually sold as a condo and Brooklyn real estate is all sunshine, lollipops and rainbows, the most thought-provoking commentary comes from Massey Knakal’s Ken Freeman. Freeman notes that no one would take a building rental if “you thought you were going to be able to sell the condos at a good price individually” and “the recent Arias sale has given some condo developers overly optimistic expectations about what they can fetch selling their building to investors as potential rentals.”
Developer Drops Condo Plan [WSJ]
100 Luquer Street Building on the Market, Going Rental [Brownstoner]
12/22/2011 9:30 AM
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100 Luquer Street Building on the Market, Going Rental
Looks like the saga of 100 Luquer Street, a.k.a the Carroll Gardens Finger, isn’t over yet: A broker involved with the marketing the development as a condo tells us the entire property is for sale, and it’s being pitched as a rental. A few private investors have already expressed interest in the tower, and a deal is expected to be signed by the end of the year. Condo sales at 100 Luquer Street went live this October, but StreetEasy shows that MNS Real Estate pulled all listings last week. The two-bedrooms for sale were priced between $599,000 and $849,000, and some contracts are said to have been in negotiation.
100 Luquer Officially Goes on Sale This Sunday [Brownstoner]
Coming Soon: Listings for Carroll Gardens’ 100 Luquer [Brownstoner]
100 Luquer [Official Site]
Life at Formerly Stalled Luquer Street Sites [Brownstoner]
Reboot Under Way at 100 Luquer [Brownstoner] GMAP
12/21/2011 10:00 AM
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brownstoneshalfoff
Feb 09, 2012 | 11:02 AM