HOTD: $8 Million and a Dream
What price buildable square feet? In Brooklyn Heights the answer, evidently, is a staggering $900. There’s nothing but a shell left (albeit a lovely one, we’re sure), but what you’re buying is potential. All you need is $8 million and a dream. Actually, you don’t even need a dream. BHS already has the dream laid…
What price buildable square feet? In Brooklyn Heights the answer, evidently, is a staggering $900. There’s nothing but a shell left (albeit a lovely one, we’re sure), but what you’re buying is potential. All you need is $8 million and a dream. Actually, you don’t even need a dream. BHS already has the dream laid out for you, architectural plans and all:
A rare opportunity to create your dream home…If you have imagination we have the property. Five stories, wide and deep brownstone with a 95 foot garden. Down to bare walls and ready for your renovation. Architect plans available that include an elevator, a lap pool, 8 to 10 fireplaces, possible greenhouse or huge deck.
You had us at bare walls.
Remsen St. [Brown Harris Stevens] GMAP
I think that when this sold in 2003, it had a few rent stabilized tenants. They must have paid them off to move. Without the tenants, this property would have sold for much more than $2.3 mln in 2003. Someone obviously made a wise investment in taking the risk to buy it with a plan to pay people to move.
This is 50 Remsen Street and it sold in 2003 for $2.3 million. It has a deep garden off of Grace Court Alley.
Think it’s definitely just for the shell
Pretty sure $8M gets you the shell only. I love the verbal construction of “architect plans available” — it means someone punted on the property after hiring an architect but before starting the renovation in earnest. I wonder how much the plans would cost; I can’t imagine they’re included.
I don’t get this – is it $8m for finished product
or for the land and shell?