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Brooklyn Heights contains some of New York City’s most coveted properties. Its moneyed roots date back to the 18th century, when affluent individuals built the first mansions featuring views of Manhattan. With a resident mix of wealthy landowners, bankers and merchants, Brooklyn Heights was established as the city’s first suburb.
The Great Depression had a significant negative impact on the neighborhood filled with Wall Street bankers and speculators, with foreclosures on almost a third of dwellings. But by the 1940s, its resurgence had begun. Gentrification, planning and development again rendered it an attractive and desirable place to live in the five boroughs.
It is characterized by its low-rise architecture, brownstones and churches, many of which are shielded from aggressive redevelopment by preservation efforts. The Brooklyn Heights Historic District, created in 1965, served as a model many historic neighborhoods have replicated.
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The 22,600 residents of the 205-square-mile Brooklyn Heights are connected to Manhattan by subways, ferry services and bridges, and find Downtown Brooklyn very easily accessible.
The Watchtower Bible and Tract Society, part of the neighborhood for over a century, is currently liquidating a number of assets in its expansive Brooklyn Heights portfolio. This has generated a renewed interest in the area that The Besen Group is capitalizing on, marketing a 15K SF, five-story, 20-unit elevator property at 50 Orange St.
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Built in the early 1900s and subsequently revamped, it features a new fitness center and rooftop deck plus bike, storage and golf rooms.
“This trophy asset is located in the heart of historic Brooklyn Heights, which is characterized by leafy tree-lined streets, tranquility and diverse architecture,” Besen Senior Director Shallini Mehra said.
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