From Mints to Condos at 20 Henry Street
It’s been a long time coming, but now that the conversion of the former Peakes Mason Mints building at 20 Henry Street is coming to market, we suspect there will be plenty of pent-up demand. Signs announcing the launch of 20Henry.com recently went up on the scaffolding. The only useful information to be gleaned from…

It’s been a long time coming, but now that the conversion of the former Peakes Mason Mints building at 20 Henry Street is coming to market, we suspect there will be plenty of pent-up demand. Signs announcing the launch of 20Henry.com recently went up on the scaffolding. The only useful information to be gleaned from the site at this stage (it’s just a place to register your interest) is the list of pricing tiers. The cheapest apartments will start in the $400,000 to $600,000 range; there will also, not surprisingly, be units that are north of $1,250,000. According to DOB filings, there are 22 apartments in the building. A comment on a Brownstoner thread last year said 43 and the Eagle said 14. Which one is it? GMAP
400K for a studio is not that pricey. Not in this location.
Just sold a TINY studio in Park Slope for 379K this past month FSBO.
Barely 300 sf.
The What, open your eyes. We’re not debating whether or not the new units will sell for ask; we’re debating trying to compare the real estate market in different areas of Brooklyn. Go back to cutting and pasting and continue to miss the point.
10:37, to say the places might not sell for ask (which I agree is possible) is one thing, but how can you equate a new Two Trees project on Court to this restored Warehouse in BH?? As for bringing up downtown Brooklyn – do you really think the locations are comparable?
You know what is funny? When someone questions to insane prices or ideas of overpriced crap, the get attacked. They say ” You don’t own anything” or “Your a bitter renter. Plenty of people see this thing for what it is, a Mutant Real Estate Bubble.
Here you go good news.
S&P/Case-Shiller U.S. Home-Price Index Fell 12.7%
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUYOn_guvnPA&refer=home
Prices will probably keep sliding as foreclosures push even more properties onto the market just as stricter lending rules limit the number of qualified buyers. Shrinking home values have contributed to a slowdown in consumer spending that may already have tipped the economy into a recession.
Yeah I know, sales is strong here. But sales volume has fallen off a cliff.
The What
Someday this war is gonna end….
There’s a giant difference btw dumbo and brooklyn heights and also btw cadman plaza and this.
And they didn’t kick out people — the mitchell lama term had ended. I don’t understand why this is always an issue. The city and developers make a deal in which the city gives the developers certain things and in return the developers make the apartments affordable housing for 20 years. And then when that term is up, the residents cry foul. That was the deal! We’ll never have affordable housing if popele can’t stick to a deal.
(and the two resident/protesters were an attorney and an architect who had lived there the whole time. MOVE ON!)
958: actually I’m not — I live and own property in the heights, and I’m quite familiar with this area. But when corco is advertising studios for 1600/month and two trees is holding massive open houses to try and re-rent court towers and huge swaths of dumbo/downtown brooklyn are up for rent/own, when a huge chunk of wall st money has up and vanished, and when the economy is going into recession, I simply don’t think that these apts will sell for the ask.
9.58 : You seem to be an amateur. The apts you refer to are priced at what the market will bear. Your comment is no different than saying what’s the difference between a mercedes and a BMW..or any other consumer purchase predicated on choice. The beauty is in the eye of the beholder. Obviously, the developers here think that they have a distinctive product..for which there is a market and have set the price appropriately.
9:50, I live in the area (Henry and Remsen) and one doesn’t have to be a multi-millionaire to live there, although it does help if you’re looking for 3+ bedrooms. It will be interesting to see how big (or small) the units that are “north of $1,250,000” at 20 Henry will be.
9:58, DUMBO and Brooklyn Heights are extremely different neighborhoods. I happen to like both, but they are nothing alike. And I don’t think you can compare anything on Atlantic Avenue to this place (strictly from a location and neighborhood standpoint alone). As for Cadman Towers, again these are two very different buildings – one a relatively bland high rise on the “wrong” side of Henry (albeit with many great views) and one a much smaller loft-style apartment. But I will say, if the units in the $400,000 to $600,000 range at 20 Henry are tiny studios, it could be a tough sell.
You’re making it sound like new conversion from factory.
Isn’t this just a remodeling of existing apts that were in some middle-income program where they kicked everyone out to make expensive condos?