Ownership has transferred on a trio of four-story rent-stabilized buildings at 1018 and 1074 Eastern Parkway and 1392 Sterling Place in Crown Heights, Brooklyn. The prewar structures yield a combined 88 rent-stabilized units and were sold on Wednesday for a total consideration of $7.6 million. The sale clears the way for a city-supported rehabilitation of the three properties, which together carry 991 open housing code violations and sit in the Department of Housing Preservation and Development’s Alternative Enforcement Program.
1074 Eastern Parkway, via Google Maps.
The transfer did not arrive through a city enforcement action but through an auction stemming from a judgment in a personal injury case dating back more than 15 years. Rehabilitation work is expected to cost in the ballpark of $10 million, with a financial needs assessment ongoing. The buildings will be owned and operated through a housing development fund corporation, a nonprofit structure subject to increased HPD supervision.
1392 Streling Place, via Google Maps.
All three buildings are enrolled in the Alternative Enforcement Program, the annual designation reserved for the 250 buildings citywide with the most severe uncorrected violations, which empowers the agency to make emergency repairs and bill the owner for the costs. HPD has been required to make such repairs at each property, and together with the Mayor’s Office to Protect Tenants has backed residents in Housing Court litigation seeking to compel the prior owners to act.
The buildings date to the 1920s: 1074 Eastern Parkway was built in 1922, 1018 Eastern Parkway in 1923, and 1392 Sterling Place in 1928. The buildings contain 31, 34, and 23 units, respectively.
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