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30 Strong Place, Cobble Hill, was recently brought to market and within a couple of days had an accepted offer. The single-family townhouse had an advertised asking price of $2,800,000, or $825 per sq ft. To be honest I thought this property was priced aggressively due to its age, non-modernized systems, and what appears to be significant deferred maintenance. The market proved me wrong â€“ it may have been underpriced. Demand is obviously still strong for brownstone Brooklyn townhomes and since only a handful of townhomes trade hands in Cobble Hill every year sellers are doing well if their property is priced right and competing properties are limited in number.
We are actively marketing the properties for sale and are offering pre-construction discounts on the advertised prices to buyers willing to enter into purchase agreements before construction begins. Pre-construction buyers will be able to participate in the customization of their homes by selecting their own finishes, appliances, cabinets, etc. Please contact Betsy at 917-622-3879 or firstname.lastname@example.org if you would like to learn more about the project.
â€śIâ€™m a strong supporter of community preservation and am always impressed by the work of the BHA. Iâ€™m honored to be a part of this important organization and look forward to working diligently to support its mission,â€ť commented Brennan.Â The BHA Board is made up of local residents with a record of strong commitment to the community. Brennan currently volunteers as Vice Chairman of the Board of the Dodge YMCA and Chairman of its Strong Kids Campaign.
The Brooklyn Heights Association celebrated its centennial in 2010, and was instrumental in the 1965 formation of Brooklyn Heights as New York City’s first historic district.
Duplex at 100 Second Place, Carroll Gardens
One of our buyer clients is now the happy new owner of what I consider to be one of the best condo rehab projects in Carroll Gardens â€“ a three-bedroom lower duplex spacious home, with garden, at 100 SecondÂ Place.
This transaction is a good example of how our boutique firm can help clients looking for homes in brownstone Brooklyn. Our buyers were comfortable submitting a bid for the property because they were confident in our assessment of its value, Â the comparable properties in the market place, and how their property compared to alternative purchases.Â They were also confident in the advice we provided on potential improvements to their property, since they knew we had vast first-hand experience renovating brownstone buildings. (We first met the buyers in 2007, when they came to look at our redevelopment project at 118 State Street in Brooklyn Heights.)
They are savvy and patient buyers, just like most of our clients, and were informed enough to know that 100 SecondÂ Place was worth it.Â In this environment you need to act fastâ€”and in order to act fast you need to have confidence in yourself and your advisor. We keep our clients informed about market trends, property values, and rehab possibilities and costsâ€”so when the right opportunity comes along, they are able to act with confidence.
What stood out for me at the recent Brooklyn Real Estate Roundtable were David Ridiniâ€™s comments on the 20 Henry Street project. It was a relief to hear that his firm, Canyon-Johnson Urban Funds,Â is committed to completing this Brooklyn Heights condo project, and that after year-long delays and funding and legal problems, work is once again underway. I did find his pricing strategy a bit puzzling, though. Â He estimated the units would be listed for about $1,000/square foot. This seems priced to sell, although Iâ€™m skeptical as to whether they can deliver the project at this price–due to the need for investor returns in the double digits.Â By the time these units get on the market theyâ€™ll likely be priced higher. Ridini also claimed they plan to charge more per square foot for smaller apartments vs. larger ones. This goes against the traditional pricing model of charging a premium for larger spaces, due to the limited supply of those units.Â Iâ€™m wondering if this pricing model will succeed in the Brooklyn marketplace.
Check out thisÂ new genealogy about Schermerhorn Street in Brooklyn Heights. Named after a Dutch family in the shipping business, the street was once used as a path to “walk” rope in the manufacture of shipping rope. Today, Schermerhorn Street maintains much of its historic character, with several 19th century brownstones remaining.
Our first and second installments in the history of preservation series, written by Suzanne Spellen (aka “Montrose Morris” in the blogosphere) for MyHome, Brooklyn and Brennan Realty Services, looked at the birth of the movement in the United States and later in Brooklyn. In Chapter Three, Brooklyn Heights beats out Soho and Greenwich Village as the first historic district! Read below or download the pdf.
Preservation Primer, Chapter III: The Landmarking of Brooklyn Heights
The post-World War II years birthed a different New York City. Robert Moses, New York’s â€śMaster Builderâ€ťâ€”who held as many as 14 different public service jobs and had tremendous control over public works projectsâ€”was hard at work shaping the future New York City of his dreams. While many of his projects such as parks, highways and urban renewal were both desirable and necessary, the way he went about them left many irked or outraged. And he famously prized the automobile over any public transportation. Read More »
CG Patch: Public Spaces Add to Home Value
Read Donald Brennanâ€™s latest â€śLocal Voicesâ€ť blog post on Carroll Gardens Patch--and find out about the importance of outdoor public spaces in your home search.
Full article here.