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Crown Heights Castle Already in Contract for $1.32 Million

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Curbed commenters were dubious about the ability of a Crown Heights townhouse—even a freestanding one with an awesome turret—in need of a gut renovation to fetch more than $1 million, but times are clearly changing, and 1372 Dean Street is already in contract for $1.32 million. The legal five-family was listed for $1.3 million only a couple months ago and, according to a very interesting New York Times article in which the house is looked at as a microcosm of the history of the neighborhood, attracted more than 80 people to its three open houses. The buyer, the founder of Perfect Renovations, a company that restores historic brownstones, will renovate (of course), upgrading the interior and renting out the units, and possibly keeping one to live in. According to the house's broker, eleven Crown Heights townhouses have sold for more $1 million in the past eight months.

· 125 Years at 1372 Dean [NYT]
· Castle in the Loire Valley of Brooklyn Seeks $1.3 Million [Curbed]