FINDING HOME
From Backpacks to Brownstones

Sam & Miranda met while hiking across America. They weren’t the only ones - this annual trek has sparked more than a few relationships (goodbye dating apps, hello blisters?). But more importantly, it built a community that outlasted the trail.

From that community came a bold idea: co-purchase a Brooklyn townhouse, build their own modern-day commune, and eventually convert it into condos.

As with any shared ownership plan, financial realities vary. It’s common for the most resourced party to take the lead - and in this case, that was Sam & Miranda.

Several families from their hiking circle were interested in joining, and Sam & Miranda were excited to make room for them. But one family in particular, the Robinsons, were at the center of their vision. With three young kids and a very different budget, the Robinsons needed space more than anything, and Sam & Miranda were determined to find a home that could work for everyone.

At every showing, they asked: Could the Robinsons also live here? Would this unit fit their needs - and their finances?

It was one of the most thoughtful, generous home searches I’ve ever been part of. Sam & Miranda knew, logically, that they should prioritize their own needs and build their co-purchase team around the home they found, but still they kept the Robinsons front of mind.

They found me through the New York Times article about another set of clients doing something similar — and from the very first call, I knew this wouldn’t be a typical search.

Here’s where their priorities started:

• 2-3 family townhouse

• Somewhere near the coastline, but not too far south

• A division of units that could suit their co-purchasers’ budgets and needs - which were quite different from their own.

• Minimal renovation required

Here were their options:

No. 1:
The Red Hook Plug & Play

This three-family was the romantic pick. A Red Hook classic with three turn key units, a spacious backyard for all to enjoy, and that industrial charm of the block you can’t fake. Sam loved the location’s grit-meets-peacefulness, and Miranda appreciated how turnkey it felt. All the 2-bedroom units had similar layouts, and could certainly fit the financial capabilities of several parties in their community. Although they had their wedding in Red Hook, the neighborhood felt a bit too disconnected for them.

No. 2:
The Greenwood Collective

These might not be the flashiest listing photos, but that’s the point - I want you to start seeing homes the way a real estate broker does. Notice the kitchen’s small window near the ceiling? That’s a tell: the kitchen is mostly below grade level. In another photo, a skylight signals this as the top floor, and the side window reveals something rarer - the home is likely detached on one side.

This building is a legal three-family with a lower duplex and two simplexes above. The kitchen in the lower duplex being below grade brought down that unit’s value - but the square footage was incredibly compelling. Sam & Miranda imagined living on the top two floors, flooded with sunlight, and figured the lower duplex could be the right fit for their friends’ budget and space needs.

No. 3:
The Corner Charmer

This home was the perfect example of how layout matters far more than squarefootage. Set up as a lower duplex with a simplex on top, it would make most financial sense for Sam & Miranda to take the larger lower duplex, while their friends took the top floor. The top floor was flooded with sunlight, and fit three bedrooms plus a sizable living & dining space all in ~1000sqft, so it could fit the three kids.

The home lacked a backyard, but had a killer roof deck that all parties could share. It sat on the corner of a block, so light flooded in from multiple exposures.

*Specifics have been changed to protect client privacy

Which Home Do You Think They Chose?

• The Red Hook Plug & Play

• The Greenwood Collective

• The Corner Charmer

MARKET INDICATOR
Manhattan

Manhattan is filled with submarkets, and this data speaks on the borough as a whole. The summer slow down of inventory is unsurprising, but what’s interesting to see is that contract signings are holding rather stable. Are we facing a flip in the market? Are sellers starting to regain some control? The fall market will be a trip, and I’m looking forward to September…

New listings have dropped below contract signings, pushing Prime Brooklyn (Northwest of Prospect Park) further into a seller’s market. That doesn’t mean every home is selling wildly above ask — I’m seeing some sellers get overconfident, and list their homes way too high, leading them to sit on the market for some time. It’s surprising to see June contract signings higher than March, but considering contracts have a ~2 week delay from accepted offers, it’s possible this is reflective of late May activity. July’s data will be interesting - let’s see how the usual summer slow down plays out in such a competitive market.

HOMES I’M LOVING
433 Pacific Street

You know I love a double duplex.

433 Pacific Street
5 beds / 4 baths
$4,995,000
Boerum Hill

Why I love it:
You’ve seen me feature everything from Tribeca lofts, to UWS co-ops, to brownstones dripping with charm - and this one might be my favorite yet.

Yes, the character in this townhouse has me drooling (those details!), but what really gets me excited is the layout: a true double duplex. This is hands-down my favorite townhouse configuration. It offers maximum flexibility to grow into the space, allows you to optimize rental income, and if co-purchasing is the goal, it’s the most balanced setup you can find.

Two nearly equal homes under one roof - with the kind of warmth, flow, and function that’s hard to come by.

Curious why I love this setup so much? Check out my ode to the double duplex here.