Townhouses stage comeback after more than 100 years

Construction of the multi-floor homes at highest rate since the Gilded Age

TRD New York /
Jul.July 10, 2014 10:30 AM

New-build townhouses are back.

In the post-recession boom, an increasing number of developers are working new-build townhouses into their master plans. This is particularly true for developer Abby Hamlin, who is working on townhouses in a section of the St. Patrick’s Old Cathedral School at 34 Prince Street.

“New townhouses are absolutely desirable once again,” she told the New York Post.

Her project follows Hamlin Ventures’ State Street master plan, which included 23 townhouses on a Brooklyn city block between State and Schermerhorn streets. The first 14 townhouses there were finished in 2007 sold out at an average of $2.6 million per home. The second phase was completed in 2014, when the homes went for an average of $3.5 million each.

The addition of ground-up townhouses in Brooklyn and Manhattan is happening at a rate not seen since the late 19th century.

A number of other townhouse developments from a few years back can be seen across the city. In 2004, One Morton Square opened with 283 units and six townhouses, one of which is still available for $9 million. In 2009, starchitect Robert A.M. Stern put seven serviced townhouses at the base of his 53-unit Superior Ink building on West 12th and Bethune streets. [NYP] — Claire Moses


Related Articles

arrow_forward_ios
Nicolai Ouroussoff and Cecily Brown with 125 East 10th Street (Credit: Columbia GSAPP via Flickr, Wikipedia, and StreetEasy)

No criticism here: Nicolai Ouroussoff, Cecily Brown buy E. Village house for $7.75M

15 West 76th Street and David Berkowitz (Credit: RiverPark Ventures)

Charity case? Hedge funder makes tidy sum off townhouse sale to nonprofit

Bon Jovi’s Robert A.M. Stern-designed New Jersey mansion is on the market

Nassau and Suffolk home sales decline, Westbury eyes downtown revitalization & more Long Island real estate news

2 North Moore and Mark Zittman (Credit: Google Maps and Tuatara Capital)

Townhouse at 2 North Moore sells for $27M after 5 years on the market

15 East 63rd Street and Oleg Cassini (Credit: Google Maps and Getty Images)

Oleg Cassini’s former UES headquarters faces foreclosure

John Griffin and 14-16 East 67th Street (Credit: Getty Images and Google Maps)

Hedge funder John Griffin was behind record $77M townhouse deal

Philip Falcone and his house on East 67th Street (Credit: Google Maps and Getty Images)

Financier Philip Falcone sells UES townhouse for record $80M

arrow_forward_ios