Aussie firm Dixon to put townhouses on city’s rental market

Town Residential marketing properties, including Bed-Stuy's priciest home

August 06, 2014 03:25PM
By Hiten Samtani and E.B. Solomont

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A fresh crop of townhomes owned by the Australian real estate management firm Dixon Advisory, including Bedford-Stuyvesant’s priciest home, is set to hit the city’s rental market.

Town Residential’s Joshua Carney is marketing the portfolio, which contains properties in Brooklyn as well as in Manhattan’s Hamilton Heights and Queens’ Forest Hills. Six Brooklyn properties — 568 Park Place, 55 Burns Street, 37 Prospect Place, 22 Arlington Place, 406 Monroe Street and 50 Eldert Street — are already up for grabs. 22 Arlington, which became Bed-Stuy’s priciest home when it sold for $2.25 million in June, is asking $11,995 a month.

Another 20 properties, including 513 Macdonough Street, 722 Saint Nicholas Avenue and 592 Hancock Street, will hit the market in the next few weeks, Alan Dixon, CEO of Dixon Advisory, told The Real Deal in a statement.

Rents range between $4,995 and $18,000 per month. The properties feature original detailing, such as high tin ceilings, original hardwood floors, stained glass windows and fireplaces. Some also sport private outdoor terraces and landscaped gardens.

“It represents a unique opportunity for a tenant to live in an entire brownstone,” Carney said, pointing out that the majority of the properties were single-family homes that have been extensively renovated.

Dixon, through its publicly traded real estate investment trust, US Masters Residential Property Fund, acquired more than 500 single-family homes, townhouses and brownstones in the New York metropolitan area over the last two years. The REIT has made buys in fully-gentrified neighborhoods such as Carroll Gardens and Park Slope, but also in up-and-coming areas such as Bedford-Stuyvesant and Crown Heights, where last month it paid $25 million for a 124-unit rent-stabilized portfolio.

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