A remarkably high number of Brooklyn brownstone listings this spring and summer may indicate a wave of homeowners cashing in as property values reach new heights, The Observer noted Wednesday.
Without explicitly naming the neighborhoods or data sets that led them to this conclusion, The Observer offered anecdotal firepower to the claim that the current number of on-the-market townhouses in brownstone Brooklyn has increased. The pub counted 91 townhouses for sale in the spring and about 75 in the summer — many of the homes sporting “ridiculous” price tags.
“People have seen prices go up and they’re cashing out — when they see their neighbor sold their place for X, they wonder why they can’t get the same,” Town Residential broker Terry Naini is quoted as saying.
The scaffolding has come down on the exterior and the first two of seven brand new neo-traditional townhouses at 345-353 State Street in Boerum Hill are on the market. The exteriors are neo-Georgian, and now the listings reveal neo-traditional interiors to match, as well as elevators, green building features, and parking.
The developers are IBEC and Strategic Development Corp. and the architect of record is Steven F. Levine Architect. The townhouse at 349 State Street is a single family configuration asking $4,100,000. The townhouse at 349 A is a two-family and is priced at $4,300,000.
The interiors blend traditional design with contemporary features.
The remaining three “Four on Degraw” townhouses from developer H Holding Group are now up for sale, with an ask of $4,999,000 each. The first townhouse, No. 451, hit the market in April 2014 asking $1,000,000 less and is in contract.
Part of the Brooklyn new-construction townhouse trend, the residences are neo-Georgian on the outside and contemporary (and very luxurious) on the inside. The architect is Gerald J. Caliendo, who has designed quite a few midrange apartment buildings in Brooklyn.