Location and Neighborhood: Carroll Gardens
Carroll Gardens, one of Brooklyn’s most sought-after residential neighborhoods, is known for its tree-lined streets, historic brownstones, and tight-knit community atmosphere. Carroll Gardens is as picturesque as it is convenient in the borough's southwestern corner, with easy access to essential amenities and transportation options.
A Community with Character
The charm of Carroll Gardens lies in its perfect balance between tradition and modernity. Residents enjoy a variety of independent cafes, restaurants, and boutiques, all within walking distance. Additionally, the area features several parks, including Carroll Park, which serves as a community hub for families and children. The neighborhood’s proximity to the subway ensures seamless connectivity to Manhattan and other parts of Brooklyn, making it a prime location for families and professionals.
The Building: A Boutique Brooklyn Condo
111 Nelson Street is a boutique residential property offering an exclusive living experience. With just three units spread across three floors, the building caters to a select group of homeowners seeking privacy and comfort.
A Unique Blend of Privacy and Convenience
Each unit at 111 Nelson Street is thoughtfully designed to maximize space, functionality, and comfort. This small-scale development ensures residents enjoy a quieter and more intimate environment than larger condominiums. Including premium features like private outdoor spaces, high-end finishes, and modern amenities underscores the property’s dedication to quality living.
Architectural History: A Historic Property Revitalized
Initially built in 1899, 111 Nelson Street has a rich architectural history that reflects the traditional design of Brooklyn’s residential properties. In 2024, the building underwent a significant renovation led by Bouratoglou Architect, transforming it into a modern condominium while preserving its historic essence.
Balancing Heritage and Modernity
The renovation focused on maintaining the building’s classic exterior while updating its interiors to meet contemporary standards. Key structural elements, such as the facade and foundational design, were retained to honor the building’s heritage. Simultaneously, state-of-the-art materials and fixtures were introduced, creating a seamless blend of old-world charm and modern practicality.
Unit Breakdown: Luxury Living Spaces
Each of the three units at 111 Nelson Street is designed to offer a unique and luxurious living experience. The property’s layout is carefully crafted to maximize natural light, functionality, and comfort, appealing to various buyers.
Unit Garden
This ground-floor duplex features a private entrance and spans 1,298 square feet. Unit Garden offers a peaceful retreat with 1.5 bathrooms, an open-concept layout, and direct access to a private backyard with a wildflower garden. High-end finishes, such as marble countertops and Bosch appliances, enhance the unit’s appeal.
Unit 3
Positioned on the top floor, Unit 3 is a one-bedroom, two-bathroom residence spanning 600 square feet. The unit includes a private balcony, providing an outdoor space that complements its well-designed interior. Custom cabinetry and premium fixtures are among its standout features.
Unit 2
Unit 2 offers a compact yet luxurious layout with one bedroom and one bathroom. At an asking price of $679,000, it’s an attractive option for buyers seeking high-quality living at a competitive price. The unit’s open-concept design ensures efficient use of space.
Outdoor Amenities: A Rare Luxury in Brooklyn
Outdoor spaces are a coveted feature in a densely populated city like New York. 111 Nelson Street sets itself apart by offering a range of outdoor amenities that enhance the quality of life for its residents.
Private Outdoor Spaces
Each unit benefits from private outdoor areas, such as gardens, balconies, or terraces. These spaces allow residents to enjoy fresh air and greenery without leaving the comfort of their homes. The private backyard in Unit Garden is particularly noteworthy, offering a serene setting for relaxation or gardening.
A Comparative Advantage
Compared to other properties in Carroll Gardens, including these outdoor amenities adds significant value to 111 Nelson Street. They provide a unique selling point in a market where outdoor space is often limited.
Market Trends: Real Estate Investment in Brooklyn
Brooklyn’s real estate market continues to attract buyers and investors alike, and Carroll Gardens remains a hotspot for residential development. 111 Nelson Street exemplifies the market’s demand for properties that combine luxury and practicality.
Pricing and Value Growth
The units at 111 Nelson Street are priced between $679,000 and $995,000, reflecting the premium nature of the property. The building’s value has appreciated significantly over the years, with its 2018 sale price of $1,365,000 growing to a projected sellout value of nearly $3 million in 2024. This appreciation underscores the investment potential of boutique developments in prime locations.
Absorption and Sales Velocity
With one-third of the units already sold and a sales velocity of 0.2 units per month, 111 Nelson Street is on track to achieve full sellout within two years. This absorption rate aligns with market trends in Carroll Gardens, where demand for boutique condos remains high.
Why Invest in 111 Nelson Street?
111 Nelson Street offers a compelling case for real estate investment in Brooklyn. Its exclusivity, location, and modern design make it a valuable asset for discerning buyers.
Advantages of Boutique Properties
Boutique condominiums like 111 Nelson Street offer several advantages over more significant developments. They provide a more intimate living experience, reduced unit competition, and more significant potential for long-term value appreciation. The building’s historic character also adds a unique charm that is difficult to replicate.
Strategic Location
The property’s location in Carroll Gardens further enhances its appeal. Buyers benefit from the neighborhood’s strong community vibe, excellent amenities, and convenient transportation options, contributing to its enduring popularity.
Carroll Gardens Lifestyle: Residential Neighborhood Charm
Living in Carroll Gardens offers residents the best of both worlds: urban convenience paired with the peaceful charm of a suburban enclave. Known for its iconic tree-lined streets and historic brownstones, the neighborhood's picturesque aesthetic is matched by its vibrant local culture and tight-knit community. Carroll Gardens is a haven for those who value the energy of city living and the serenity of a close-knit residential area.
Daily Life in Carroll Gardens
Its wealth of amenities and activities enrich daily life in Carroll Gardens. Residents enjoy access to various local shops, from artisanal bakeries to boutique stores, alongside highly-rated restaurants and cozy cafes that cater to various tastes. Dining options range from traditional Italian eateries to modern fusion spots, reflecting the neighborhood's cultural diversity.
The community spirit is evident in the regular farmers' markets, where locals gather to shop for fresh produce and handmade goods. Seasonal events and cultural festivals are held throughout the year, offering opportunities for residents to connect and celebrate together. This sense of belonging is further strengthened by the area’s family-friendly atmosphere, which includes excellent schools, playgrounds, and green spaces.
For those who enjoy the outdoors, Carroll Gardens provides walkable streets and proximity to parks like Carroll Park, a central hub for recreational activities. This combination of amenities, safety, and community-oriented living makes Carroll Gardens a truly unique and desirable neighborhood in the heart of Brooklyn.
Summary and Final Thoughts
111 Nelson Street stands out in Brooklyn’s competitive real estate market. Its unique combination of historic charm, modern luxury, and exclusive living makes it ideal for buyers seeking a high-quality home in a desirable neighborhood. With its prime location, thoughtful design, and promising investment potential, 111 Nelson Street represents the best boutique living in Carroll Gardens.
FAQs
What is the historical significance of 111 Nelson Street?
Built in 1899, 111 Nelson Street exemplifies Brooklyn's rich architectural heritage. Its 2024 renovation preserved the historic facade while updating the interiors for modern living, maintaining the building's original charm.
What amenities are available at 111 Nelson Street?
Each unit offers private outdoor spaces, such as gardens, balconies, or terraces. The building includes modern conveniences like laundry facilities and intercom systems, enhancing resident comfort.
How does 111 Nelson Street compare to other properties in Carroll Gardens?
With only three units, 111 Nelson Street provides a boutique living experience. Its blend of historic architecture, modern amenities, and private outdoor spaces distinguishes it from other local properties.
What is the current real estate market trend in Carroll Gardens?
As of December 2023, Carroll Gardens has a median listing home price of $3.2 million, reflecting a 49.5% year-over-year increase.
Is 111 Nelson Street a good investment opportunity?
Given its location in a desirable neighborhood and the rising property values in Carroll Gardens, 111 Nelson Street presents a promising investment opportunity for potential buyers.
