An elaborate townhouse with lavish modern updates in the Stuyvesant Heights Historic District sold to an artist for $3.17 million on November 8, a tipster told Brownstoner. The sale was closely watched amid rumors of a slowing market for high-end properties in Bed Stuy and throughout Brooklyn.
Designed by well-known 19th century Brooklyn architect Axel Hedman, the neo-Renaissance limestone at 386 Stuyvesant Avenue is loaded with period details such as a grand entry, woodwork, fretwork screens, mantels, pier mirrors and window seats. All these details were preserved and restored by the designer-developer duo of Adam Dahill and Christiaan Bunce, who also introduced luxurious modern features, including a third-floor master suite, white and silver bathrooms, and a parlor floor kitchen with brass-inlaid oak cupboards and marble counters.
Despite a $25,000 discount off the initial asking price of $3.195 million, rather than a sale over ask some Brownstoner commenters predicted, the final sale remains on the high end of Bedford Stuyvesant prices. As you may recall, Dahill Bunce set a record with the 2017 sale of a townhouse at 1 Verona Place for $3.3 million. (The Kelley Mansion at 247 Hancock Street has since eclipsed it by selling for $6.275 million in 2018.)
Anecdotal reports and rumors on the ground reveal a softening market, particularly in higher priced and traditionally “prime” areas such as Park Slope and Brooklyn Heights. Recent market reports have shown flat overall sale prices alongside gains in prices per square foot — but not the huge across-the-board upward leaps Brooklyn saw from 2012 to 2015.
- Elaborate Limestone With Lavish Modern Updates in Stuy Heights Asks $3.195 Million
- Neo-Grec With Lavish Renovation Breaks Bed Stuy Sales Record, Closes for $3.3 Million
- Kelley Mansion Breaks Bed Stuy Record With $6.275 Million Sale