Bed-Stuy brownstone sails past neighborhood record, sells for $6.3M

A 131-year-old, single-family townhouse on Hancock Street has just smashed the Bed-Stuy record for the most expensive home sold in the neighborhood. The Wall Street Journal was the first to learn of the record, which was set by the John C. Kelley mansion located at 247 Hancock Street.

The $6.3 million sale was almost double the previous record set last year by a townhouse that sold for $3.3 million. Regardless, both sales indicate a general uptick in prices in the neighborhood, and a greater interest from buyers. Average home prices in the neighborhood range between $1.5 million to $3 million, and more sales at such high price points will probably push that number up soon.

The four-story townhouse was built in 1887 for John Kelley, a man who struck gold with his invention of the water meter. The Renaissance Revival-style home has 10 bedrooms, five and a half bathrooms, a massive backyard, and fully kitted-out bar in the basement.

Before its recent sale, the house was owned by the same woman for 32 years. Claudia Moran restored it to its original glory. She has resisted selling the mansion to developers, who have been scoping the place ever since she announced her intention to sell in 2014. She wanted to wait for a buyer who would take just as good care of the house as she did. And now, she’s found that buyer.

• Historic Townhouse Sale in Bed-Stuy Smashes Record [WSJ]