Bedford-Stuyvesant

What’s your favorite Aussie-owned Bed-Stuy brownstone?

Eye On Real Estate

August 6, 2014 By Lore Croghan Brooklyn Daily Eagle
Ivory tower: This limestone row house at 259 Decatur St. is a recent Aussie acquisition. Part of St. Philips Episcopal Church is visible at right
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It seems whichever way you walk in Bed-Stuy, there’s an Aussie-owned brownstone.

How do you know? With some houses, the name US Masters Residential Property Fund (or some variation of it) is posted on a construction fence. With others, the brokerage firm Town’s sign is hanging by the front door — that’s Dixon Advisory USA’s leasing agent.

The fund, whose assets are metro-area residential properties, is listed on the Australian Stock Exchange.

Here are photos of some of the homes and the beautiful blocks on which they’re located. Which is your favorite? Or is there another Australian-owned Bed-Stuy property you prefer? Let us know in the Comment Section below.

One worthy candidate is 259 Decatur St., a  long-vacant Renaissance Revival limestone house purchased in May for $1.65 million, as Brownstoner.com first reported.

A June report from the property fund indicates its total cost of acquisition — including closing-related fees — was $1,762,708 and the rent for the single-family home will be an estimated $12,800 per month.

On Decatur Street, there are numerous homes bought by The Fund From Oz.

First, here is a photo showing 259 Decatur in the context of its neighboring brownstone row.

This is the other end of the block 259 Decatur is on. Look at the fierce faces above the window.

Keep walking and you find 317 Decatur St., which belongs to the Aussie fund.

This row house at 378 Decatur St. is a US Masters Residential Property Fund asset as well.

We saw these lovely Decatur Street houses on the way to another Aussie holding and felt compelled to show them to you.

An Australian purchase that’s interesting-looking, 605 Decatur St., rises above a construction fence.

Hancock Street has intriguing Aussie houses. In addition to 196 Hancock St., whose photo is in a related story, 201 Hancock St. is on the opposite side of the same block. The building did not photograph well, so we’re not offering a picture.

Further along the street, there’s photogenic 341 Hancock St., an Aussie holding.

Here is a sample of the great gardening on 341 Hancock’s block.

Renovation is underway at 455 Hancock St., an Aussie property.

There was lots of work being done at 592 Hancock St., which belongs to the Australian fund.

We noticed various other US Masters Residential Property Fund-owned homes. We don’t want to wear out your eyeballs, though. So here’s one last picture, of 406 Monroe St. which is on the left side of the photo.


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