Barbara Corcoran buys $1.4M Bed-Stuy townhouse

New York /
Sep.September 12, 2008 12:31 PM

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.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Jill Stuart and 113 Parsonage Lane (Getty, Google Maps)
Famous fashion designer sews up Sagaponack sale
Famous fashion designer sews up Sagaponack sale
Hiten Samtani
Watch: CoStar makes its biggest resi Move yet
Watch: CoStar makes its biggest resi Move yet
Coxsackie mayor Mark Evans (Village of Coxsackie, Getty)
Another Hudson Valley village halts short-term rentals
Another Hudson Valley village halts short-term rentals
From left: Starwood Capital’s Barry Sternlicht and Veracity Development’s Edmond Li along with 111 Mercer Street (Getty, Google Maps, Veracity Development)
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
(Illustration by Kevin Cifuentes for The Real Deal with Getty Images, James Gagliardi of Modern Media)
PHOTOS: Brown Harris Stevens turns 150
PHOTOS: Brown Harris Stevens turns 150
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...