It turns out Australian investment firm Dixon is the purchaser of not just one but all four of the recent record-breaking sales in Bed Stuy and Crown Heights. Dixon is also in contract to purchase 75 Macdonough Street, above, a notable and landmarked multifamily apartment building in Bed Stuy with a good deal of interior detail still intact.
It was Dixon who broke the all-time Bed Stuy record for a townhouse by paying $2,250,000 for 22 Arlington Place last week. The house is less than 16 feet wide but has a brand-new, high-end renovation and is dripping with original 19th century detail. Another house on the block was featured in the Spike Lee movie “Crooklyn.”
It was also Dixon who paid $2,100,000 earlier this month for 196 Hancock, a house that attracted a lot of media attention in March when the flipper who bought it for $1,200,000 from an estate listed it for $1,850,000 three days later.
It was also Dixon who paid the renovated-house price of $1,500,000 for an unrenovated house with oodles of original detail at 698 St. Marks in Crown Heights earlier this month.
And of course, as we already reported, Dixon made a similar purchase at 259 Decatur Street in May, an architecturally distinguished house with lavish detail in poor condition.
And let’s not forget 36 Rutland Road, a house on a double lot that set the townhouse record for Prospect Lefferts Gardens when Dixon purchased it for $1,850,000 in January.
Meanwhile, over at 75 Macdonough Street, Dixon is purchasing in a joint venture with another unnamed company; Dixon’s US Masters Fund “is providing the majority of the equity,” Managing Director and CEO of Dixon Leasing Alan Dixon explained. We published photos of the building interior in February when it was for sale for $3,200,000. It was also a Building of the Day in 2010. The Renaissance Revival building looks like an Italian palazzo and was designed by architect William Debus.
“We are very happy with all of the purchases and are extremely comfortable with the overall per square foot prices that we will be in each house for,” Alan Dixon told us. “Each property also provides some excellent synergies for the overall portfolio. We are comfortable that these properties will provide excellent returns to our investors over the next 10 years as Brownstone Brooklyn continues to just get better and better!”
What effect do you think Dixon’s recent purchases will have on the market?
Photo by Marcus & Millichap
Update: The sale of 75 Macdonough Street closed Tuesday for $3,150,000.