Dumbo NYC

Notes from the DUMBO, Brooklyn NY neighborhood


New to Market: 69 Gold Street, Vingear Hill Townhouse

January 13th, 2009

69 Gold Street in Vinegar Hill

As we’ve said in the past, townhouses in the quaint Vinegar Hill area are hard to come by since there aren’t too many of them. Many of them are landmarked and have storied histories behind them. This 1925 landmarked 69 Gold Street townhouse on the corner of Gold and Water Streets has just been put on the market (by Corcoran) for $2,995,000 (annual tax $4011). Based on the photos from Corcoran, the renovations to the home are designed well with a country style chef’s kitchen and designer bathrooms. The property is sold as two units. The main townhouse has 3-4 bedrooms, 2 full and 2 half baths, 3 wood burning fireplaces and one gas fireplace and a roof deck with Manhattan views. The kitchen is on the ground level and has a corner double door that opens up to the street.

The carriage house part of the property is two stories and currently configured as a 1 bedroom apartment with a skylight set into the cathedral ceilings (current rental income is $3300 per month). We always thought the carriage house was a large garage (with 3 large garage doors), but it’s set up as an apartment. City property records indicate that the property was last sold on April 20, 2006 for $1,295,000. Lot dimensions is 16 ft x 80 ft and the townhouse has 2,544 sq ft. Will the sellers get the asking price in this market?

{69 Gold Street, Corcoran listing}
Floorplan after the jump…

Filed in Gold Street, Real Estate, Vinegar Hill at 9:33 am
Comments
  • twc
    I dont see anyone paying that much when you can get almost as much space for the same price in Cobble Hill or Carroll Gardens. It looks like a great renovation job but it not the right location for this type of project. I think they would have had more success by making into a couple different condo duplexs with parking/storage in the carriage house.
  • Mike
    Wow, they did an great job on the renovation. Very nice. Don't know if they'll get asking, but I wouldn't doubt it.
  • Rookie
    Ditto what most people said. Very nice place, but if I had three million and want a house (as opposed to a great condo), I'm heading to Brownstone Brooklyn. Does someone who buys a 3mil property really need a 1bedroom rental to get that last 2 or 3 thousand dollars a month? But then again - all it takes is one person to fall in love with it.
  • BrooklynLove
    nice place but i wouldnt pay more than 1.2 for it.
  • Sam
    Does anyone know why they're selling? Was the property intended as a flip, or?
  • sara
    I lived there in the late 90's/ 2000's. it was a pit of shit complete with termites and dangerous neighbors migrating from the projects that are a block away. the middle eastern bakery smells wonderful, but it's loud as hell, and the house is near the substation.
    regardless of the interiors renovations, the sellers have lofty expectations to think the will get that.
  • Jstein
    69 gold st seller is high on crack & floor plans are a stretch, you can see into the whole lower level on the street level. place is too narrow to be usable and in addition to rats from the pita bakery (24 hour operation with semi trucks at all hours) and the CON ED substation that literally surrounds the block, the sewage treatment plant a block away at the navy yard makes the "deck" totally unusable. i think the owner may need to rethink his options. there are plenty of better places for the money. oh and also across the street is an illegal chinese chop-shop outdoor truck pkg lot. very healthy for families indeed.
  • modsquad
    I think converting that garage was a big mistake. If you can afford 3 mil you're not trying to make ends meet by needing to rent out the garage as apartment. Worse yet where do you park the land rover? You don't want to be fighting with the unwashed for the limited street space, now do you?
  • Jstein sounds a bit angry (high on crack?) and is misleading on the his 'insider info' on the apt and area.. has he ever heard of window blinds? and you can't see in from street anyhow.. i live on that block, rats? prob same as anywhere in city. (i personally haven't seen any) treatment plant is more than a block away.. i live closer to it than this place, and in 3 years i've been bothered maybe 5 times. as you can guess the rest of his "facts" are rather exaggerated as well...
  • VH
    The shower with the exposed bricks is a very cool detail.
    He did a great job restoring this building, including the rebuilding of the exterior street side wall. That was a hell of a big job.
    I love living in Vinegar Hill, and have no complaints about the neighborhood. And if one is lucky enough to get the opportunity to live here, they should take it. As for the price, I guess its all about the budget.
  • O'B
    Price seems high indeed, but a loverly renovation. If any of the local residents are posting a reply here, I would appreciate your thoughts on Vinegar Hill in general. My wife and I are thinking of moving to the area (renting, not buying). We toured last weekend and really liked it; but were a little concerned about some of the more desolate stretches. We got positive reports from residents - most said that they steer clear of York st. by the public housing, but that generally the area was safe. But would be curious as to the views of some of the residents on this post. We are long-time city dwellers who have lived in a variety of good and not-so-good N-Hoods in Manhattan and Brooklyn, so we are not unaware of the realities of city living.
  • VH
    I have been very happy in V.H., and have met allot of great people here. I have never had any issues with personal security, but, one should keep an eye out at night. Esp. on the darker streets where there is no housing. I actually think that York Street is one of the safer blocks to walk because there are always police parked on that block.
  • neighbor
    I've never had a problem, but I'm more careful here than I would be in Manhattan or other busier neighborhoods. It can be quiet in VH and that's really what makes it feel disconcerting. The overall crime rate is relatively low. Don't walk around while looking at your cell phone. Don't wear your iPod headphones, etc. basic stuff.... I would recommend staying off York Street -- use Front Street when coming or going rather than the parallel streets closer to the water.

    VH is a great neighborhood, I really recommend it and I'm sure you'll be welcomed by other residents here too. It is quiet and often really idyllic over here. The other night I went to the window when I heard a shout only to find that it was a few kids playing in the snow.
  • 206 Front
    I live on Front between Bridge and Gold and in the last year we've had a number of problems with muggings. I've seen two of them while smoking on my balcony. The police response time has been great, but unfortunately the police have told us they do not have enough representation in the neighborhood because of the last census and they're having a hard time controlling the crime. One mugging was around 1 AM the other was at 7AM. Despite the petty crime, I love living in this neighborhood. The people are great and the neighbors know each other, but if you're thinking of living here, you should know that this place has not been completely gentrified.
  • flopsom
    that price is a joke. the kitchen on the first floor is a joke. you can look right through the windows, so they have to basically kept the blinds down all day and night. might as well wall it up. you are also a stones throw from a massive substation and toxic smokestack. $3MM??? please. you could buy 100 acres and a mansion an hour north of here. when will idiots wake up and smell the coffee. 2007 prices for crapola are over. flip this, my friend
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