Remsen Street

Completed

Brennan rehabilitated this 8,500 Square Foot 1890s Renaissance revival townhouse, and reconfigured the home into four luxury rental apartments.

Acquired off-market in 2005, this 8,500 SF limestone town home was purchased for under $500 PSF. Originally intended to be a condominium development, Brennan secured both acquisition and construction financing for this project. When the project came to market in $Q 2008, the luxury condominium market would not support the disposition of the asset. Brennan held and operated the asset until the market re-covered in 2013, at which time the units were repositioned and sold. The project yielded a greater than 3X on equity and more than tripled the annualized return on the DJIA over the same period.

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PROPERTY DETAILS Location: Brooklyn Heights, Brooklyn
Type: Condominiums
Square Feet: 8500
Year Aquired: 2005
Year Completed: 2008
Building Type: Multi-Family
Project Budget: $5 - 10M
Architect: Patrick Brennan Architect, PLLC
Interior Designer: CWB Interiors
Developer: Brennan Development
Marketing: Brennan Marketing & Sales

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