Plans to convert Clinton Hill’s Broken Angel building into 10 condominium units continue apace — despite ex-owner Arthur Wood’s hopes of regaining the property that fell to foreclosure in 2008.
Alex Barrett of Barrett Design and Development, the property’s new owner, closed on a $4.1 million deal two weeks ago for the 4-6 Downing Street house and an adjacent lot. The house portion is to be converted into eight condominiums, constructed atop the existing framing and elevator work. A brand new four-story building housing two units will rise on the adjacent lot.
“We’re interested in the history of the building,” Barrett told the New York Daily News, adding that he expects to complete the project by 2015. “We’re not trying to whitewash that, but we are cognizant that we are writing a new chapter.”
Arthur Wood and his late wife Cynthia purchased the property in 1979, then transformed it with homemade installations and stained-glass windows. In 2006 a fire ravaged the home and revealed that it wasn’t up to code, and the owners attempted to overhaul the property via a condominium conversion with Madison Realty Capital. Madison later filed to foreclose on the building in 2008, and the property was scheduled to hit the auction block in March of 2012. [NYDN] — Julie Strickland