A new building is rising at 9 Old Fulton Street in Dumbo, a deep but narrow lot that’s been empty since before the block was landmarked. The four-story building will have three apartments and 1,224 square feet of commercial space with a restaurant, according to permits issued last year. But construction might be paused for the moment, after the city issued a partial stop work order late last month.
Thomas van den Bout of N/Vdesign architecture is designing the project, which looks like it will fit in with the block perfectly. The 1,387-square-foot plot once housed a building from the 1840s, but it was demolished sometime before the Fulton Ferry District was landmarked in 1977. Landmarks approved the new design in 2010 after a series of public hearings.
Click through to see the schematic on the fence.
A Brooklyn Heights mansion with a storied past at 3 Pierrepont Place has just hit the market for $40,000,000 — making it Brooklyn’s most expensive townhouse listing, probably ever. Corcoran’s Vicki Negron has the listing, which The Wall Street Journal was the first to write about, this afternoon.
The semi-attached Italianate brownstone, built in 1857, was famously home to Seth Low II, who served as mayor of Brooklyn in the 1880s, and later, mayor of New York. Perched on a cliff, it overlooks the Brooklyn Heights Promenade and Brooklyn Bridge Park, with views of the East River, Statue of Liberty and Manhattan.
Owner Jeff Keil bought the house for $2,300,000 in 1991, according to the Journal. He and his partner live in a five-bedroom duplex in the building. The 17,500-square-foot home has eight apartments. The current tenants are on short-term leases, and the house can be sold vacant, Keil told WSJ. Architect Frederick A. Petersen designed the house, which features a staggering level of ornate detail on a 9,000-square-foot lot. Click through for more photos of the interior.
The current record for the most expensive townhouse sale in the borough is, of course, the Greek Revival mansion at 70 Willow Street, which sold for $12,500,000 in 2012. Do you think the seller will get ask?
3 Pierrepont Place Listing [Corcoran]
Brooklyn’s Most Expensive Listing: $40 Million Brownstone [WSJ]
Building of the Day: 2 and 3 Pierrepont Place [Brownstoner]
Photos by Corcoran
We’re amazed to read that a Manhattan buyer has purchased a new-construction townhouse at 832 Dean Street in Crown Heights for $3,450,000, setting a new record for the price of a townhouse sale in the neighborhood. The sale closed recently, according to the New York Post, but has yet to hit public records.
Built in 2013, the house has three units and three stories, for a total of 3,960 square feet, according to PropertyShark. So that works out to $871 per square foot — reasonable compared to the square foot cost of condos in prime Brooklyn neighborhoods, which are now over $1,000, but pricey for a Crown Heights townhouse, even a top-of-the-line one. The house is close to Washington Avenue and the Prospect Heights border, where real estate is more expensive.
The buyer sold a townhouse in Chelsea, according to the Post.
Renderings on the Douglas Elliman listing show a typical new-construction interior, similar to a Williamsburg luxury condo, but with fairly high-level finishes and somewhat traditional styling, including floors that look old and have borders. Each unit is a two-bedroom, two-bath floor-through, except the top apartment, which is a duplex with an additional bedroom and bath in a hidden setback with a roof deck.
Anyone looking to buy a townhouse for under $1,000,000 will get the best bang for the buck in East Flatbush, although they should also check out Bushwick, Bed Stuy and PLG, a real estate agent advised us last night at dinner.
Now this morning DNAinfo has a story saying the time is now to buy a recently renovated townhouse in a “hot” neighborhood for under $1,000,000 — but those opportunities will soon be fading. The areas in question are Bed Stuy, Bushwick, Crown Heights and Prospect Lefferts Gardens.
“Soon” — it’s unclear exactly how soon — townhouse buyers will be priced out of those areas and relegated to Ocean Hill and East Flatbush, said the story, citing our own posts about recent record-setting sales in Crown Heights ($2,900,000) and Bed Stuy ($3,000,000).
The story also quoted a sales report out from the Real Estate Board of New York yesterday. In the fourth quarter, condos were up 13 percent and townhouses were up 17 percent throughout all of Brooklyn, vs the year earlier, said the report. The gains for townhouses in specific neighborhoods are nothing short of astonishing. Said DNA:
Bed Stuy one- to three-family homes, for example, sold for an average price of $887,000 in the fourth quarter of 2014, up 37 percent from the year before, according to a report released Tuesday from the Real Estate Board of New York. Crown Heights homes went for an average of $733,000, up 24 percent over the year. Bushwick homes averaged $633,000, up 35 percent, and Prospect Lefferts homes averaged $673,000, up 16 percent.
Soon the action will turn to condos, as a huge number of new condo buildings are set to launch in these areas, as we’ve reported previously. More specifically, Aptsandlofts.com alone is “representing 40 new buildings slated to open this year and next in areas like Bushwick, Bed Stuy and Crown Heights,” said DNA.
Another agent, Ban Leow of Halstead, recently told us he believes the market will continue to climb for another three years. What do you think?
AA Studio has released renderings for its forthcoming 20 townhouses at 109-125 King Street and 74-85 Sullivan Street in Red Hook, and we think they are great! They’re contemporary but with some charming details such as arched windows that reference the architecture in the area. The colors and design of each one vary and repeat in a way reminiscent of late 19th century row house design. (If we read the rendering correctly, the pattern is A, B, C, D, E, B, A, E, B, C reversed, and A.)
New York YIMBY was the first to publish the renderings. Note they all have garages on the ground floor, with access in the front, which is unusual for high-end townhouses, at least the ones we’ve seen lately. It’s not our favorite look, but doesn’t seem to overwhelm the design, at least not in the rendering above.
Each house will be 2,625 square feet, as already reported. The developer bought the property, which houses a two-story factory, for $9,700,000 last year.
YIMBY guessed the exterior cladding planned for the houses will be a mix of brick, metal, wood, and the very popular and contemporary rusty Corten steel. Click through to see a rendering of a rooftop patio.
What do you think of the design?
Revealed: Townhomes Coming to 115 King Street, in Red Hook [NYY]
115 King Street Coverage [Brownstoner]
Renderings by AA Studio via NYY
Developer Sanba Partners has filed permits for the 20 modern-style townhouses it is planning a few blocks from the water in Red Hook. New York YIMBY spotted the permits for the three-story houses, which will be located at 109-125 King Street and 74-85 Sullivan Street.
The houses will fit “into the fabric of Red Hook” and be “contemporary” in style, according to the website of AA Studio, which is designing the houses.
Each house will be 2,625 square feet, with roof decks and parking. The developer bought the property for $9,700,000 last year, said YIMBY. Above, a factory at 115 King Street.
An unnamed private investor has snapped up a 27-foot-wide mansion at 672 St. Marks Avenue in Crown Heights for $2,900,000, beating the neighborhood record by nearly $800,000. The sale closed Tuesday, Corcoran agent Chris Cavorti confirmed. The original asking price was $2,999,000.
The Renaissance Revival limestone was built in 1895 and designed by architect Peter J. Lauritzen. It is divided into five units and needs work. As far as we know, the previous record holder was 760 Eastern Parkway, a two-family home on a 40-foot-wide lot that sold last month for $2,108,902.
BK to the Fullest was the first to write about the sale.
Crown Heights Losing Its Mind: 672 St. Marks Avenue [BK to the Fullest]
House of the Day: 672 St. Marks Avenue [Brownstoner]
Building of the Day: 670-672 St Marks Avenue [Brownstoner]
Photo by Corcoran
Update: The story has been updated. Dixon is NOT the buyer of the mansion, Cavorti just let us know. He misheard us when we asked him twice if Dixon was the buyer, he said. An unnamed private investor bought the property.
Bed Stuy has been having a year or two of “record growth,” both in prices and volume of deals, said a story in real estate trade pub The Real Deal. Upward prices and lots of construction in the neighborhood “are signs that record growth could continue.” The story’s headline is “Betting on the Bed Stuy Boom.”
What is happening in Bed Stuy mirrors much of the rest of Brooklyn, where deals are setting new price records and the number of deals is rising.
While acknowledging Bed Stuy’s special architecture, a “wealth of highly detailed brownstones,” the story also mentioned “limestone row houses,” which do exist but are more typical of Crown Heights, and focused on condos, which at least for now make up a very small proportion of the housing in the area. As an example of Bed Stuy’s record setting prices, the article cited “condos that top $1 million” (a record set in June 2013) rather than row houses that cost $3 million (last week).
The story spoke with five real estate agents, all of whom said condo prices — now $500 to $700 a square foot — have nowhere to go but up.
The nine Townhouses of Cobble Hill have sold out after hitting the market over a year ago at 110-126 Congress Street, according to PR reps for developers JMH Development and Madison Estates. The Morris Adjmi-designed homes debuted in May 2013 with asking prices ranging from $3,650,000 for a three-bedroom, five-bath house to $3,875,000 for a five-bedroom, five-bathroom one.
Meanwhile, in Prospect Lefferts Gardens, the four new-construction townhouses at 274-280 Hawthorne Street (above) are all in contract less than a month after listings appeared, Q at Parkside reported. The three-story, three-unit homes hit the market in mid-November, priced from $1,495,000 to $1,695,000.
That is very fast. The Q speculated the buyers are investors who plan to rent out the three-family houses. Based on the floor plans, prices, and the patterns we see in the area and elsewhere, we would have to agree.
274-280 Hawthorne [Q Parkside]
New-Construction Townhouses in PLG Start at $1.495 Million [Brownstoner]
Townhouses of Cobble Hill Coverage [Brownstoner]
Prices of townhouses in Bed Stuy are quickly catching up to Clinton Hill and Park Slope. A townhouse at 242 Gates Avenue in Bed Stuy — not far from the Clinton Hill border at Classon — closed for $3,000,000 in recent weeks, eclipsing the previous record of $2,250,000 at 22 Arlington.
The sale has not yet hit public records, but the listed price and status of the listing on the Corcoran website changed Wednesday.
A listing agent did not respond to a request for comment.
The house at 242 Gates was asking $2,650,000, so the sale was for $350,000 over ask, although the house is only 16.67 feet wide. It featured an unusual renovation by seller Eli Fernald of Ground Architecture & Building, according to BK to the Fullest. We described the vibe as “brownstone meets factory in the woods” when it was a House of the Day in July.
It is a few doors down from another record setting house, a very large Parfitt Brothers-designed Queen Anne townhouse at 254 Gates Avenue that appeared to be in perfect original condition with updates when it sold for $2,200,000 in 2013.
The house at 242 Gates Avenue previously changed hands in 2007 for $749,000, before the current renovation. GMAP
Update: We just heard from Corcoran agent Zachary Stackell, who let us know the sale closed Wednesday, November 26, and confirmed the sale price was $3,000,000.