Townhouse Prices Booming – NY Daily News

The sky-high $8 million dollar price tag for 50 Remsen Street is mentioned in today's Daily News article as being an indicator of a bubble that shows no sign of bursting.

The Brown Harris Stevens listing calls the Remsen Street townhouse a "mansion in waiting" :

Huge mansion in need of a huge amount of work. In the heart of Brooklyn Heights just steps from the promenade sits this enormous beauty in need of immediate attention. The lot is extra large, in fact the backyard is so huge you can have pony rides at your child's birthday party. This is not your common brownstone and it is not for the common buyer. If you want true luxury this is a must see.

27-BorosBrownstone.JPGNew York Daily News -Boroughs-Townhouse Sales Go Through Roof:

In Brooklyn Heights, where prices shot up by 17%, some were shocked that brownstones in the historic neighborhood were fetching $3.2 million – on average.

"The city is becoming an impossible dream," said Luke Butler, 34, standing near an $8 million Remsen St. brownstone. "I grew up here, but it's hard to think of staying here your whole life because of these costs."

 Additional links:

Recent landmark preservation ruling for 50 Remsen 


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