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Rare Opportunity: Heights Carriage House On Public Administrator’s Auction List

By Linda Collins

BROOKLYN HEIGHTS — There’s been a lot of interest in property no. 5 on the list for Tuesday’s auction at Brooklyn Supreme Court, according to a spokesperson in the office of the Public Administrator of Kings County in Downtown Brooklyn.

“It’s unusual to have a property of that value on the public administrator’s auction list,” the spokesperson told the Eagle Thursday, referring to the carriage house at 280 Hicks St.

The two-story structure — described in the auction materials as a one-family, 2,875-square-foot house with a two-car garage — has a minimum opening bid of $2 million.

Local real estate brokers agree that it is rare, indeed, for such a property to come on the market. “I am sure it will sell at auction and for more than the recommended opening bid,” said broker Sandra Dowling, principal of Brooklyn Heights Real Estate, adding that the market will determine the price. “I think it’s a fabulous opportunity for a developer or a user. It’s such a unique property: It’s an historic building and it has a garage and a yard, something very rare in Brooklyn Heights.”

Roberta Bonzilio, the new executive director of Halstead Brooklyn, concurs, noting that “the market’s starting to pick up.”

“It would be attractive to a limited market — those who want to own a private home,” she said. “It’s a rare property, especially with parking. An opening bid of $2 million is a fine number for it.”

Gabriel Ford, a broker with Brown Harris Stevens, offered a more conservative view. He believes the minimum bid price is a little high, especially “for something that would have to be gutted.” He added that other recent sales would prove him right.

Indeed, a check of “comparables” at PropertyShark.com revealed three recent sales of similar size properties in the area, all three-story, two-family homes — 25 Willow Place, a 2,920-square-foot house that sold for $1.3 million in July; 291 State St., a 3,024-square-foot house that sold for $1.8 million in August; and 132 Pacific St., a 2,756-square-foot home that sold in August for $2.25 million. Although the auction materials show the Hicks Street carriage house as a single-family home, PropertyShark records show it has two residential units.

Several brokers noted that the property has not been well maintained and may not be in very good condition. It is also known that properties on the public administrator’s auction list are sold in “as is” physical condition. Conducted on behalf of the Surrogates Court, the auction features properties that previously belonged to those who died without a will or without family members who are able to administer their estate.

As Don Evans noted in his article, carried in both Wednesday’s Eagle and Brooklyn Heights Press, this property was previously owned by Alfred Palmer, who died about 18 months ago.

According to Evans, Palmer had a shop with hand tools and a lathe at the rear and was a collector of sorts. A 1976 Mercury station wagon was recently hauled away, along with three dumpsters “full of junk.”

The auction is set to begin at 2 p.m. at Brooklyn Supreme Court, 360 Adams St., Room 144A.

Pre-registration begins at 12:45 p.m. Brokers are welcome.

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Post Date: 10/1/2009

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