Barbara Corcoran buys $1.4M Bed-Stuy townhouse
September 12, 2008 12:23PM By Adam Pincus
408 Stuyvesant Avenue
Barbara Corcoran, founder of the Corcoran Group, closed on the purchase of a five-family limestone townhouse in Bedford-Stuyvesant for $1.46 million yesterday, she told The Real Deal.
The three-story building at 408 Stuyvesant Avenue near Fulton Street in the Stuyvesant Heights Historic District had seen a series of price cuts from a listing of $2.1 million in late 2006. The seller, named 593 Jefferson Ave. LLC, purchased the house in August 2005 for $499,500, according to city records.
It was not immediately clear what Corcoran, an author and real estate investor, was planning to do with the 4,000-square-foot building.
Corcoran has been investing in real estate in New York City and beyond since selling her company in 2001 for $70 million. In April, Corcoran and her husband paid $4 million for a condo in a converted townhouse in Lenox Hill.
The Daily News reported last year that Corcoran owned 12 properties in Manhattan, Brooklyn and the Bronx, in addition to an apartment in Manhattan, a beach house in Fire Island and a school house in Duchess County.
In 2005, Corcoran bought a three-story building, with two apartments and ground-floor commercial space, at 293 Van Brunt Street in Red Hook for $1.08 million. It took her two years and a series of rental price cuts before she leased the storefront.
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Comments
Anonymous
"She does not speak English correct" Que?
Comment #1 Posted By: Anonymous 09/12/08
Anonymous
Yo B, u got a dolla?
Comment #2 Posted By: Anonymous 09/12/08
Anonymous
Her only Bronx property is a little beauty on East 140th Street, near 3rd Ave. Rumor is its a nunnery.
Comment #3 Posted By: Anonymous 09/14/08
Anonymous
The whole thing is just a big advertisement for Bed-Stuy. Corcoran probably paid her to buy it.
Comment #4 Posted By: Anonymous 09/14/08
Don't be Fooled Readers!
Isn't the same Barbara Corcoran who bought property in red hook? It was all hyped and look what happened, everybody lost it was a bit of a distance to the subway anyways and all the bars and restaurants and whatever ended up closing. Perhaps she should live there herself.
Comment #5 Posted By: Don't be Fooled Readers! 09/14/08
Anonymous
Bedstuy, at least this histoic district area by macdonough and stuyvesant, is pumping up by the week. just look at all the moving trucks, changing faces, horseback police, and new businesses...oh did we mention that barbara corcoran just bought a townhouse here? Her red hook spot may have taken a little longer than initially believed, but it did happen.
Comment #6 Posted By: Anonymous 12/21/08