Two pricey Bed-Stuy condo buildings launch sales

Two new condo buildings have launched sales in Bed-Stuy within the span of just one week. The first is a two-building project on Gates Avenue comprised of eight full-floor apartments, and the second, also an eight-unit project is located southeast on Herkimer Street.

At 368-370 Gates Avenue, developer Tower Real Estate Investments took two wood-frame houses and combined them to create the condo development. Each of the apartments here come with outdoor spaces, but in varying sizes. The unit on the ground floor comes with a massive private garden, the two apartments above that have south-facing balconies, and the penthouse unit comes with a 600-square-foot outdoor roof space. All residents here however will also have access to a shared roof deck.

Now on to the apartments themselves, most are two-bedroom, two-bathroom units save for the garden-level condo (which is a one-bedroom unit), and range in size from 1,190 square feet to 2,840 square feet. Prices start at $999,000 and go up to $1.299 million for the penthouse unit—one of the units in the building is already in contract.

Some of the standout features in the apartments include four-inch oak hardwood floors, the open-concept living and dining area long with the eat-in peninsula in the kitchen, radiant heated floors in the master bathroom, and a washer-dryer in-unit. Ryan Serhant’s team at Nest Seekers International is handling sales on this project, and the two buildings now offering up their units on sale are part of a larger three-building development. The third at 366 Gates Avenue will only have one-bedroom units when it comes on the market. In all the developer spent $3.2 million on the sites.

Grid View

At 419 Herkimer Street, the developer had a slightly easier job converting an empty lot into a five-story, eight-unit development. They’ve had a pretty quick turnaround considering plans were filed in January 2015, and the building is now complete.

A little smaller in scale than its Gates Avenue countertop, the pricing here too is on the lower side with units starting at $499,000. Currently the priciest unit is a two-bedroom, one-bathroom asking $725,000. Ideal Properties Group is handling sales on the development.

The apartments here are offered in one-and-two-bedroom formats, but apartments on each floor have something unique to offer. The ground-floor apartments are duplexes, come with washers and dryers in-unit, and one of them has a private back yard; duplex units on the third and fourth floor come with 20-foot-tall ceilings, and double height windows, and the penthouse units comes with a private roof terraces.

Some of the notable features in these apartments include Caesarstone countertops, stainless steel appliances, and a dishwasher in the kitchen, and hardwood floors throughout the apartment. Another perk here is the 15-year tax abatement, and amenities include a bicycle room and a laundry room.

Bed-Stuy is now among Brooklyn’s fastest rising condo markets, and the median sales price here stands at about $692,500, which is a $6.9 percent increase over the previous year, according to Trulia. The price per square foot has also gone up from $508 to $679 during that same time period.

Grid View