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Tag Archives: Park Slope

Spring Cocktail Party At Superfine In DUMBO

By Donald Brennan | Published: May 14, 2013

BKS fundraiserLast night we were honored to be a part of the first annual Spring Cocktail party for the Brooklyn Kindergarten Society.
The organization has been around since 1891 and helps to serve underprivileged children in local public schools. James Matison, the executive director said a few words thanking the key donors including, Donald. There were so many amazing people who attended and all with the same goal– committed to helping the Brooklyn communities achieve better opportunities for their children’s education.
We are always looking to get involved in our Brooklyn neighborhoods. If you have any events or sponsorship opportunities that we might be interested in, please email Sabrina@brennanrealtyservices.com.

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My 2 Cents: Heading in Different Directions on the Same One Way Block

By Donald Brennan | Published: May 24, 2012

Note: This update went out to our exclusive clients the week of March 12th. If you would like to be put on our exclusive distribution list, please send me an email:dbrennan@brennanrealtyservices.com

It’s hardly ever an apples to apples comparison when it comes to Brooklyn brownstones. But in the case of two nearly adjacent properties on Garden Place in Brooklyn Heights you would think you would have the chance to net out the typical handful of variables and end up with identical fruit. Not the case however with 26 Garden Place and 36 Garden Place. 36 Garden has only been on the market for a few weeks so it is too early to say how the market will view the opportunity but its asking price of $10,000,000, or $1,820 per sq ft, is in stark contrast to 26 Garden at $4,950,000, or $1,100 per sq ft. I have not been inside both properties but according to the broker blurbs both homes have been renovated and have at least grade-A kitchens. What gives? 26 Garden set out a little over a year ago to test the higher end of the price range but has had to retreat in search of a price floor that will attract attention. Five houses north on the same side of the street 36 Garden is in search of a hyper local record, on a dollar per square foot basis anyway. “Unique” and “rare” they are indeed as no one is making anymore brownstones and demand is stable, and possibly increasing, so we will have to wait and see who is headed in the right direction.

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Where do buyers go to start their search?

By Donald Brennan | Published: May 14, 2012

Third party listing sites of course!

Streeteasy, New York Times Real Estate section, and Trulia to name a few.

Take a look at this chart below. Streeteasy, one the most popular listing sites in NYC, gets significantly more page views then even the city’s biggest brokerages. As you can see using a bigger brokerage doesn’t mean more people will see your property.

Source: Alexa.com, the Web Information Company.”

Today it’s so important to have a real understanding of the relationship between online exposure and sales; we recognize the changing face of real estate brokerage, and know that the process of looking for a home begins on the internet.

We list all of our properties on Streeteasy, The New York Times, and of course of our own user-friendly and innovative website. We were the first brokerage in NYC to allow users of our site to share listings via Facebook, Twitter, and LinkedIn.

As a seller why go with the status quo? You can do so much better by using Brennan Realty to market your property.

Here are a few testimonials from some of our satisfied clients:

“Donald, Betsy and everyone at Brennan Realty give life and validation to the theory that bigger is not always better.”

“It was so refreshing, after some inconsistent and occasionally mind-numbing experiences with other firms, to work with a group of dedicated, diligent professionals who just get it.” 

“…support started long before the apartment was put on the market and lasted right up through and beyond the close.”

“I can’t say enough about the advantages of going with this boutique firm over one of the bigger ones. There is such a difference when you feel like the #1 priority. Every question is answered in minutes, not days, and every concern was treated with respect, patience and understanding.”

“In such a difficult market, I never imagined we’d be in contract in less than a month, but we had multiple offers over asking price. From the smallest studio to the biggest house, I would recommend Brennan Realty to anyone and everyone.”

Read more about what our clients are saying by visiting our testimonial page: click here.

Contact us today for a free property valuation!

Donald Brennan, Principal and Licensed Broker
dbrennan@brennanrealtyservices.com cell: 917-568-6525

Betsy Hoffman, Licensed Salesperson
bhoffman@brennanrealtyservices.com cell: 917-622-3879

Take a look at some samples of our marketing materials:
1. Two-family custom town home, Cobble Hill
2. One bedroom condo, Fort Greene
3. Classic 6, Park Slope

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My 2 Cents: Not All Townhomes Should be Priced Equally

By Donald Brennan | Published: May 1, 2012

Note: These posts are a part of our weekly email updates that we send to our exclusive buyer and seller clients, weeks in advance of posting them here. If you would like to be put on our exclusive distribution list, please send me an email:dbrennan@brennanrealestate.com.

Not All Townhomes Should be Priced Equally
The Elliman Report for the 1Q12, prepared by the appraisal firm Miller Samuel, was published this week. The numbers for brownstone* Brooklyn reflect what our team at Brennan Realty have been observing first hand (and mentioned on our blog over the past few months) – average sales price increased year over year by 54%, from $1,120,733 to $1,730,000, and the median sales price for 1- to 3-family homes increased 41%, from $950,000 to $1,342,500. Inventory is tight – number of sales decreased from 95 to 70, or -26%, year over year.

The lack of inventory and strong demand are exerting upward pressure on pricing and sellers and their brokers are trying to ride the wave in hopes it continues to swell and not crest. This is no surprise – human nature on display. So it comes with a bit of a surprise that a couple of homes we are tracking have quickly adjusted their respective asking prices downward. 94 Bergen Street – after only 32 days on the market – has had its asking price adjusted downward by 9%, from $2,195,000 to $1,995,000. 122 2nd Street – after only 30 days on the market – has had its asking price adjusted downward by 6%, from $1,695,000 to $1,595,000. We interpret this as a sign of a motivated seller. So since we have been in both of these properties we understand why the asking prices have been adjusted down. If you would like to discuss these two properties or any other property on the market don’t hesitate to contact us.

*Miller Samuel defines brownstone Brooklyn as – Boerum Hill, Brooklyn Heights, Carroll Gardens, Clinton Hill, Cobble Hill, Cobble-Hill West, Downtown-Fulton Ferry, Downtown-Fulton Mall, Downtown-Metrotech, Fort Greene, Park Slope, Park Slope South, Prospect Heights, Red Hook and Windsor Terrace.

The entire Elliman Report for 1Q12 can be found here: Elliman Report PDF.

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My 2 Cents: Days On Market – Trending Down?

By Donald Brennan | Published: April 10, 2012

Note: These posts are a part of our weekly email updates that we send to our exclusive buyer and seller clients, weeks in advance of posting them here. If you would like to be put on our exclusive distribution list, please send me an email:dbrennan@brennanrealestate.com.

Just about a year ago I observed strong demand (in advance of the lagging quarterly reports) for 2-family properties. I blogged about it here. Now, 12 months later at the front end of the listing season, demand is as strong and possibly stronger than it was back in March 2011. A sample of recent listings supports my observations:

355 Henry Street, asking $3,850,000, or $1,400 per sq ft, this half completed project entered contract after only 28 days on the market and is now reported to be closed.
455 ½ Henry Street, asking $2,695,000, or $1,123 per sq ft, reported to have an accepted offer after only 7 days on the market.
208 Warren Street, asking $2,950,000, went into contract and closed after only 4 days on the market.

This is obviously not great news for buyers in general, but it should provide you with confirmation that while making a commitment to a brownstone purchase is indeed intimidating, there is follow-on demand that should support your purchase price and necessary improvements. If not immediately after your purchase then soon thereafter. It is my opinion that while supply may increase due to the price points being achieved by current sellers it will still remain constrained as it relates to overall demand. So while there may be a few more homes to choose from there appears to be less time to make your decision. We are here to help you get comfortable with opportunities that meet your needs and provide you with enough information to act with confidence. Don’t hesitate to contact us now via email: dbrennan@brennanrealestate.com or telephone: (917) 568-6525

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Our First 12 Months at Brennan Realty Services

By Donald Brennan | Published: September 30, 2011

At Brennan Realty we pride ourselves on delivering the best customer service to everyone that we come in contact with. Yes, we’re a small firm, but that doesn’t equate to less exposure or capability; it means that we’re able to give our clients the undivided attention they deserve. We’ll sit down with each client that comes through our door and take time to understand their needs. With all available technology at our disposal we can generate as much exposure for our selling clients as the larger firms and see the all properties that may match up with our buyer client’s needs. We have time and again proven measurable results for not only the houses we sell, but also to all of our buy side clients.

Take a look at our track record. Over the past twelve months we have sold, bought and rented real estate for many satisfied clients. Below are examples of some of the deals that we made happen; in addition to these transactions we’ve also provided consultation services for people looking to renovate their homes or buy multi-family investment properties.

Sell Side:

36 Cambridge Place, Clinton Hill, Brooklyn
3,328 sq ft, 2-family, semi-detached townhouse
Closed September 2011
This 19th century townhouse is located on one of the most desirable blocks in Clinton Hill; it was lovingly restored and meticulously maintained. The property is a marketing success because we employed all our resources in making sure that this property was advertised to its fullest extent. Our marketing efforts generated multiple offers, which allowed us to deliver a buyer at a price that exceeded the expectations of our client.

39 Plaza Street West, 5A, Park Slope, Brooklyn
1,500 sq ft, 3 bedroom, 2.5 bath, pre-war co-op
Closed September 2011
This is an elegant fifth floor Classic 6 with three exposures and an abundance of natural light and views. This Rosario Candela designed pre-war co-op is located in the heart of Park Slope. Walk just a few steps to Prospect Park, Grand Army Plaza, the Green Market and the 2/3/4 subway lines.

220 East 73rd Street, 3A, Upper East Side, Manhattan
1 bedroom, 1 bath, pre-war co-op
Closed December 2010
This is an elegant one bedroom co-op on a beautiful tree-lined Upper East Side block. The apartment was meticulously maintained and the new owners are enjoying the comfort and convenience of an oversized living room with room for dining, two large walk-in closets, entry foyer, windowed kitchen and bathroom, and courtyard view.

Buy Side:

40 Cambridge Place, Clinton Hill, Brooklyn
Closed September 2011
We had been working with this client since the spring of 2010. They brought significant knowledge and interest to the table in the pursuit of an opportunity to create their own custom home. Due to our success in marketing another Clinton Hill townhouse we got a first look at this “off market” deal. With patience and fortitude we were able to help our client acquire the project, which fit perfectly with their needs. We have strong relationships with many people in the real estate business here in Brooklyn so knowing about off market deals is something we use to our full advantage when it comes to helping clients find a home that is right for them.

1 Grand Army Plaza, Prospect Heights, Brooklyn
Closed July 2011
This converted two bedroom was spacious and also included a private 500+ square foot patio that has plenty of room for outdoor entertaining. Closets and storage spaces are built in at every turn. The amenities include a full-time doorman, concierge, porters, on-site attended parking, meeting room, billiards room, children’s room, and direct access to a 30,000 square foot health club with indoor pool.

100 2nd Place, Carroll Gardens, Broooklyn
Closed February 2011
This three-bedroom and two-bathroom duplex condominium with a garden is located in Carroll Gardens. It is one of the best condo rehab projects in Carroll Gardens.

225 East 73rd Street, 4A, Upper East Side, Manhattan
Closed November 2010
We worked with our client to help them find the home of their dreams which they did with this two-bedroom pre-war home located in one of the Upper East Side’s most desirable buildings.

Rental:
Cobble Hill, Brooklyn
Move-in November 2010
This client was moving from New Jersey, she wanted to be closer to her job in midtown. We searched for many apartments for her and she eventually fell in love with a Cobble Hill apartment. It was an extra large one bedroom with the original detail and a working wood-burning fireplace.

Rental Listing:
441 Henry Street, Cobble Hill, Brooklyn
April 2011
This couple wanted to upgrade their space in Manhattan and wanted to move into Brooklyn. Unfamiliar with the different neighborhoods in Brooklyn, we explained the similarities and differences to them and now they are very happy living on the tree-lined streets of Cobble Hill.

441 Henry Street, Cobble Hill, Brooklyn
August 2011
This client was a Canadian native and had previously lived in Midtown, but wanted to move into Brooklyn.

At Brennan Realty Services are able to identify opportunities not apparent to the average broker and our clients are able to act quickly if the occasion should arise as we equip them with all the market knowledge they need to act with confidence.

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My 2 Cents Follow up: 107 Prospect Park West Finds its Savior

By Donald Brennan | Published: June 14, 2011

As reported by Brownstoner, this 19th century Park Slope property has sold for $2.7 million. Check out the post I wrote in December, “Opulent Mansion in Need of a Rescue,” and find out what it’ll take to renovate this run-down beauty. Originally built as a one-family mansion but recently configured for eight units, it appears this 1899 mansion has found its savior! Read the post here.

 

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My 2 Cents: Open Houses February 6, 2011

By Donald Brennan | Published: February 7, 2011

I spent some time on a beautiful Super Bowl Sunday afternoon looking at a few properties.  All three open houses I visited yesterday were well attended.  The listing broker at 291 Hoyt Street let me know that approximately 70 people/couples visited her open house.  I toured the following properties:

291 Hoyt Street, Gowanus, 2,200 sq ft, 2-family used as a 1-family
Asking $1,500,000, or $681 per square foot

104 Lincoln Place, Park Slope, 3,250 sq ft, 2-family
Asking $2,395,000, or $736 per square foot

70 2nd Street, Carroll Gardens, 2,031 sq ft, 2-family
Asking $1,645,000, or $809 per square foot
This was my personal favorite of the three I looked at Sunday and one of the more impressive properties of this size that I have seen lately.

Check back here this week for more in-depth analysis of each of these properties.
For additional “My 2 Cents” columns, click here.

Donald Brennan 917-568-6525 dbrennan@brennanrealtyservices.com

Please contact me if you’re in the market to buy and would like to learn about my buy-side services, or if you’re thinking of selling your home and would like to learn more about my sell-side services and to receive a complimentary comparable market analysis.


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My 2 Cents: 107 Prospect Park West, Park Slope, Brooklyn

By Donald Brennan | Published: December 22, 2010

In his new “My 2 Cents” column, Donald Brennan presents unbiased, hands-on evaluations of properties on the market that he’s visited and examined inside and out. Here’s the second article in the series. Watch for more coming soon!

Opulent mansion in need of a rescue.

I toured this 8,000 square-foot beauty Monday morning with the listing broker.  My initial thought is that I could re-build three to four beautiful apartments within this vacant shell.

View Property Location on Google Maps

Architecture – As per the Landmarks designation report, 107 Prospect Park West was built in 1899 at the same time as nos. 103 to 105, all as one-family dwellings. Charles G. Peterson, who lived nearby on Seventh Street, commissioned Brooklyn architect Axel S. Hedman to design them. They are neo-Italian Renaissance in design, with light-colored sandstone facades above rusticated basements. No. 107, which is entered on Sixth Street, has a full width, swell-front end facing the park. Oval-shaped windows alternate with square-headed ones at the top floors in this row and the ornament of the walls at this level and of the roof cornice give these houses a certain feeling of opulence. The long side of No. 107 on Sixth Street has a columnar entrance porch surmounted by a low balustrade behind which there is a triple window with a pediment in the center. A three-story wing at the rear of the building repeats the swell-front design at its west end.

Local Externalities – The property is located in the landmarked portion of Park Slope, at the corner of Sixth Street, in a residential neighborhood abutting Prospect Park.  All adjacent lots are built on, share similar bulk, are of the same vintage, and appear to be occupied.  Therefore, there is limited risk since it is highly unlikely–if not impossible–that there will be any adjacent new construction that might negatively impact the value of this property.

Rehabilitation – Fortunately this eight-unit property has some good bones to work with.   That said, the interior finishes– including the kitchens and baths, as well as all the mechanical, electrical and plumbing systems–are all shot. (The property’s been vacant since the early 1980s.) Capital improvements needed will be substantial –about $225 to $300 per square foot for hard costs.  Existing window locations–and the landmark restrictions that prohibit them from being moved–does limit interior room configuration to some degree. But this is not necessarily a bad thing, as most rooms would be generously sized as a result. Ceilings heights are in the 11 – 13 ft. range for most of the floors and the structure appears to be in good condition.  Original details are everywhere and for the most part are intact and useable. Outdoor space could be incorporated into at least two of the units.  The property could continue to function as an eight-unit building—or possibly be reconfigured into a 3 or 4 unit condominium or even a single-family home.

Marketing – The property is currently presented ‘as is.’ There’s a small hand-painted sign planted very inconspicuously in the front garden.  There are no floor plans, pictures or website to market the property. I gather that word of mouth is the business model being employed here.

One of the reasons I like this redevelopment opportunity so much is that it reminds me of my rehab project at 24 Remsen Street, here and here.  Location attributes are different but floor plates are almost the same. The exteriors possess a similar amount of ornamental detail, including the graceful swell-front windows fronting the main street. Like 24 Remsen, this building is rich in historic detail.

Once this building is rehabbed, it’ll be a gem in one of the city’s top neighborhoods. I’m ready to transform this neglected mansion and help you create your own custom home—whether you require just one unit or even the entire property.  Please contact me for more information on how we can partner together to achieve this goal and to discuss potential unit sizes and their respective market value.

Donald Brennan
Contact me at 917-568-6525 or dbrennan@brennanrealtyservices.com.

If you are in the market to buy and would like to learn about my buy-side services please give me a call or send me an email. If you’re thinking of selling your home and would like to learn more about my sell-side services—plus receive a complimentary comparable market analysis, give me a call at 917-568-6525 or send me an email at dbrennan@brennanrealtyservices.com.

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