Brooklyn Heights

Wealth-management firm buys 70 State St. in Brooklyn Heights

Eye on Real Estate: Plus other neighborhood home sales

February 1, 2017 By Lore Croghan Brooklyn Daily Eagle
This rowhouse is 70 State St., which sold for $9.4 million. The garage is part of the property. Eagle photos by Lore Croghan
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This Brooklyn Heights Historic District home sold for a pretty penny.

The red-brick rowhouse at 70 State St. was built in 1855 — and there’s a two-car garage to go with it.

The deal for the handsome five-story house was done for $9.4 million, city Finance Department records indicate.

The deed identifies the buyer as an LLC with Generation Capital Limited as its manager, the records show. Darren Rough, who signed the deed on Generation Capital Limited’s behalf, is identified on the document as the firm’s president.   

This privately owned wealth-management company is based in Toronto.

According to recent city Buildings Department filings, the new owner wants to renovate 70 State St. and convert it from a two-family home to a single-family home.

Corcoran’s Alan Berger and Ellen Newman had the listing, the real estate brokerage’s website indicates.

Other Brooklyn Heights Historic District home sales caught our eye:

Multifamily 1 Sidney Place

Multi-unit rowhouse 1 Sidney Place is located on the corner of Joralemon Street, beside St. Charles Borromeo Church.

An LLC with Zachary Stern as member bought it for $4.75 million, Finance Department records indicate.

He’s the director of finance, asset management and acquisitions at The Brooklyn Home Company, which is a custom home builder with expertise in gut-renovating brownstones.

Real estate brokerage Vandenberg handled the listing, the firm’s website indicates.

By the way, artist John Graham lived at 1 Sidney Place in the 1930s.


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