Next Goldman M&A Target: Brooklyn Heights?
We got an email a few days ago from a regular tipster who’s always been right in the past so we’re tempted to give him the benefit of the doubt this time around. While pointing us in the direction of a recent sale on Joralemon Street, he noted that the buyer happened to be a…
We got an email a few days ago from a regular tipster who’s always been right in the past so we’re tempted to give him the benefit of the doubt this time around. While pointing us in the direction of a recent sale on Joralemon Street, he noted that the buyer happened to be a Goldman Sachs executive. This was, he claimed, part of a trend that’s seen members of the city’s most successful investment bank crossing the East River (more than usual) in recent months to buy a piece of the rock in Brooklyn Heights. Another broker we quizzed, who has several Goldman clients looking in the neighborhood at the moment concurred, said he knew of two Goldman deals that have taken place in recent weeks. The only bank where bonuses are expected to rise significantly this season, Goldman bankers and traders are certainly in the best position to snap up those $5 million-plus houses. Think there’s anything to this “trend” or has it just always been so?
To 10.00 who said a vp from Goldman that lives in their building was moving out of Brooklyn – we’re not talking about some low level vp buying BHeights townhouses.
I love that someone thinks Park Slope is “landlocked” but that Clinton Hill is not.
Clinton Hill is one of the most inaccessible neighborhoods in Brooklyn.
Park Slope needs no more Wall Streeters. They prefer the creative types over there.
A friend’s dad, during the last recession said “Buy a brick”.
I see this as proof that the financial workers are afraid of inflation and investing in bricks instead of a volitile financial market. Brooklyn Heights ought to keep it’s value – it’s stayed pretty stable over the last thirty years and solidly appreciated in value.
The house on Pierrepont Street owned by the hapless congregation of Holy Trinty and St Ann’s church is I think in contract. They had trouble evicting their commercial tenant and that blew the first deal. Let that be a lesson to all, even commercial tenants, with absolutely no protection whatsoever can be a pain in the ass to evict in Brooklyn. The courts here are unbelievable. Private renters, even if they are not rent-regulated can be an even bigger headache. Do they have any right to stay without a lease? Technically, no. Will the courts help you evict them? No. If you are lucky it will take a year or two and cost you fifty thousand dollars. Buyer beware.
I’ve found a lot of these families moving to BH once the kids are already in Packer or St Anns. So the limited spots isn’t really a thing for them.
I think these folks are buying in Fort Greene and in Clinton Hill. They take their gated community with them wherever. And since they never ever take a subway or bus and since they send their children (by car) to school in Manhattan or the suburbs, what does it matter? Fort Greene and CH are certainly more convenient to Manhattan by car than Park Slope, which is kind of landlocked out there past Fourth Avenue.
Rich Wall St. types living in Brooklyn Heights don’t take the train.
While the (private) schools in BH are fine, the number of spots and variety limited (Packer is very traditional, St. Ann’s is very progressive). Poly Prep is a bit of a schlep. Thinking that your kid may have to spend 45 minutes on a subway into Manhattan to got school is not first choice. For that reason, BH’s appeal to wealthy families with middle and high school kids will always be limited.
brooklyn heights = zzzzzzzzzzzzzzzzzzz