Swift sales in Brooklyn Heights: Co-ops at 75 Henry St.

Eye On Real Estate

July 20, 2016 By Lore Croghan Brooklyn Daily Eagle

This tower is 75 Henry St., where two co-ops sold in just two weeks. Eagle photos by Lore Croghan

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In pricey, patrician Brooklyn Heights, some homes sit on the market a looong time before being sold.

Others are snapped up in a New York minute.

We were wondering why the other day, as we strolled along streets lined with beloved pre-Civil War brownstones and wood-frame houses. So we asked experts to share their insights.

“There’s so much negativity out there. A lot of people are saying, ‘Maybe I’ll wait for prices to come down.’ Then I’m reminded that a great property in a great location will sell, and sell quickly,” said Leslie Marshall of the Corcoran Group.

“People always want to live in Brooklyn Heights.”

It’s got a plain-Jane exterior and lacks a landmarked pedigree. So why are home-buyers crazy about 75 Henry St.?

Consider the speed with which Greg Williamson of Douglas Elliman recently sold two co-ops in this Brooklyn Heights tower.

They drew accepted offers at their very first open houses. Both are now in contract for “significantly above their asking prices,” said the associate broker, who heads the Williamson Team.

Unit 5E, a two-bedroom co-op with a private terrace and an asking price of $1.495 million, had been on the market for only 13 days when the sale contract was signed.

After a best and final offer was accepted for Unit 5E, it was topped by an even higher offer from a disappointed bidder, who wound up winning the apartment, Williamson said.

City Finance Department records indicate that the sellers of Unit 5E, Erik Hendrickson and Sue Hendrickson, had purchased the co-op for $665,000 in 2009.

Unit 9J, a studio with a $435,000 asking price, was on the market for 15 days when a sale contract was signed, Williamson said.

According to Finance Department records, the seller of Unit 9J, William Berg, had purchased the co-op for $365,000 in 2012.

Among Brooklyn Heights co-ops and condos, “75 Henry gives you the best bang for your buck,” Williamson said. “It’s a view-driven building that’s highly amenitized, with low monthly carrying charges.”

The co-ops are large in the 300-plus unit tower, which was built in the 1960s. There are 1,200-square-foot two-bedrooms, 740-square-foot one-bedrooms and 600-square-foot studios. And the centralized location, near subway lines, shopping corridors and stellar brownstone blocks, is appealing.

“There are brokers and direct clients who contact us repeatedly to ask when certain units will be coming onto the market,” he said. They want two-bedroom units with views facing east and north and three-bedroom units facing west, both of which rarely become available for sale.

He has a special affinity for Brooklyn Heights, the neighborhood where he grew up. Since 2002, he and his mother, now-retired Madeline Williamson, have sold more than 100 units at 75 Henry.

The Williamson Team focuses on residential sales in Brooklyn Heights, Cobble Hill, DUMBO and Manhattan neighborhoods as far north as Harlem.

As readers will recall, this past January, shareholders at 75 Henry voted not to pursue the sale of Pineapple Walk, the property’s low-rise row of retail and restaurant spaces, to a high-rise condo developer.

The vote afforded a strong measure of protection for 75 Henry’s south-facing views.