Aussie Fund’s Bed-Stuy Buy: 272 Jefferson Ave.

Eye On Real Estate

August 6, 2014 By Lore Croghan Brooklyn Daily Eagle
Bed-Stuy brownstone at 272 Jefferson Ave. is a recent Aussie purchase
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From juvenile justice center to posh pad.

The Aussie real estate fund Alan Dixon’s firm manages is the new owner of 272 Jefferson Ave., a regal Bed-Stuy brownstone, according to a June 2014 report from the US Masters Residential Property Fund.

The fund, which is listed on the Australian Stock Exchange, spent $1,649,995 to acquire the Greek Revival property, including attorney fees, title charges and other closing costs, the report indicates.

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The rent will be an estimated $12,000 per month for the row house, whose original details include “wood trim doors, stained glass windows, ceiling molding and expose[d] brick walls,” says the report, and there is also “an exclusive parking garage.”

The brownstone is a commanding presence on the corner of Marcy Avenue, though weeds grow waist-high on the front lawn. The building formerly housed the Sgt. Henry Johnson City Challenge day placement program, which was a state Office of Children and Family Services co-ed non-residential facility, online records indicate.

The brownstone had belonged since 1971 to the state of New York, which put it up for auction last summer, with the minimum bid set at $770,000, according to a marketing flyer.

The fund paid $1,632,946 for the building and the sale closed on May 30, city Finance Department records indicate.

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