Tag Archives: real estate

Spring Cocktail Party At Superfine In DUMBO

By Donald Brennan | Published: May 14, 2013

Last 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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Posted in Uncategorized | Also tagged BKS, Brennan Realty Services, Brooklyn, brooklyn kindergarten society, brownstone Brooklyn, carroll gardens, clinton hill, cobble hill, donald brennan, let's talk real estate, my 2 cents, Park Slope, Superfine |

Brooklyn Kindergarten Society Fundraiser!

By Donald Brennan | Published: May 9, 2013

On May 13, the Brooklyn Kindergarten Society’s Annual Spring Cocktail Party will be held at Superfine in DUMBO. All proceeds from this event go to helping children in poorer Brooklyn neighborhoods obtain a strong educational foundation for their future. Brennan Realty Services is sponsoring this event because of our commitment to service in the communities we work and live in. Join us as we help to make strides in today’s educational system. To donate, please click here.

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Posted in Uncategorized | Also tagged betsy hoffman, Brooklyn, brooklyn heights, brooklyn kindergarten society, donald brennan, DUMBO, PS, public school, sabrina bachai, Superfine |

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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Posted in My 2 Cents | Also tagged Brennan Realty Services, brooklyn heights, brooklyn real estate, brownstone Brooklyn, brownstoner, carroll gardens, let's talk real estate, my 2 cents, Park Slope, townhouse |

My 2 Cents: An Elegant Solution – The Lamb Institute in Thirds

By Donald Brennan | Published: May 21, 2012

Note: This update went out to our exclusive clients the week of February 20th. If you would like to be put on our exclusive distribution list, please send me an email:dbrennan@brennanrealtyservices.com

355 Henry Street (aka one-third of the Lamb Institute, 110 Amity Street) was recently brought to market as a single-family home – not quite a townhouse, but vertical townhouse type living nonetheless. The division of the entire building into three townhouse type properties is an elegant solution that eluded many that had previously tried and failed over the past 6 years to redevelop the property. Today it was reported that 355 Henry is in contract. The 4-story 3,200 sq ft recently rehabilitated property is listed at $3,850,000, or $1,200 per sq ft. While the home appears to be configured appropriately for “family” use the property has no yard and the entrance is on the rear of the building. And while it has three exposures its corner location on Amity and Henry Streets is not 100% residential. These less than favorable attributes do not appear to have negatively impacted the sellers ability to achieve what may work out to be a strong sale price. More evidence that the local townhouse market is out of balance with demand continuing to exceed supply.

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Posted in My 2 Cents | Also tagged Brennan Realty Services, Brooklyn, brooklyn heights, brooklyn real estate, brownstone Brooklyn, brownstoner, carroll gardens, cobble hill, donald brennan, let's talk real estate, my 2 cents, townhouse |

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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Posted in My 2 Cents | Also tagged Boerum Hill, Brennan Realty Services, brooklyn heights, brooklyn real estate, Brownstone, brownstone Brooklyn, carroll gardens, clinton hill, cobble hill, donald brennan, let's talk real estate, my 2 cents, Park Slope, red hook |

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.