Developer Jared Kushner will turn three of the properties he acquired from Brooklyn Law School – 100 Pierrepont Street, 27 Monroe Place and 38 Monroe Place – into single family residences, the Real Deal reports.
The $36.5 million transaction to buy a total of 6 buildings from the law school closed today.
And apparently there is an insatiable hunger for mansions in Brooklyn Heights with a potential price of $1600 per square foot:
The Real Deal: Deborah Rieders, an associate broker at the Corcoran Group specializing in Brooklyn Heights, said the demand for luxury townhouses in the neighborhood was sky-high and was not being satisfied by the current inventory.
“These would certainly be absorbed quickly,” she said.
Townhouses are trading at between $1,200 and $1,500 a foot in the area, she said, but if a property really has a lot of “bells and whistles,” it could trade for as high as $1,600 a foot.
Meanwhile, the other three buildings purchased by Kushner will be maintained as rentals, a source said.