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Residential / New York / 1 min

Clinton Hill Townhouse Sells for $9.4M, 2.5x the 2014 Deed

The new deed is not yet in ACRIS. The prior one is, and it shows what the seller paid 12 years ago.

Edited by Carlos Ramirez · How we report
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$9.4MReported sale price (not yet recorded)
$3.75MRecorded 2014 deed price
2.5xSale versus the 2014 deed
$1,320Per sq ft on 7,119 sq ft (PLUTO)

A renovated townhouse at 374 Washington Avenue in Clinton Hill has sold off-market for a reported $9.4 million, a neighborhood record, according to 6sqft. The seller paid $3.75 million for it in 2014. The new deed is not yet in city records, so the price rests on that report.

Why it matters

The 2014 deed recorded $3,750,000, and a $2.25 million mortgage went on the same day. A $9.4 million sale is $5.65 million higher, a 2.5x multiple over about 12.6 years, or roughly 7.6% a year, before the cost of the renovation 6sqft says the owners completed. 6sqft reports it narrowly tops the $9.05 million record set by the Pfizer Mansion at 280 Washington Avenue in 2021, a house about 10,000 square feet.

The numbers

City PLUTO data lists the house at 7,119 square feet on a 3,400 square foot lot, three floors, built in 1881 and inside the Clinton Hill Historic District. At $9.4 million that is about $1,320 per square foot, against about $527 at the 2014 price. The record is also thin evidence: it is one off-market sale of a 25-foot-wide, turn-key house on an extra-deep lot. For another price set against a recorded deed, see our report on 70 Broad Street, and more in our New York coverage. Clinton Hill’s mansion-row blocks trade rarely, so a single sale can reset the neighborhood benchmark, and a buyer or lender underwriting the next one will lean on it. The comparison that matters is the 2014 deed, because it shows how much of the gain came from the market and how much from the work done to the house.

What’s next

Watch for the deed to post in ACRIS, which will confirm the recorded price, the buyer of record and any new mortgage. If the recorded figure differs from the reported $9.4 million, the record claim changes with it.

On the record

What we checked ourselves, and where you can check it too.

  • Public recordACRIS deed 2014021100996001, recorded Feb. 20, 2014, shows 374 Washington Avenue changed hands for $3,750,000. A reported $9.4M sale is $5.65M, or 151%, higher, a 2.5x multiple over about 12.6 years, roughly 7.6% a year before renovation costs.View the record on a836-acris.nyc.gov
  • Public recordThe 2014 purchase carried a $2,250,000 mortgage (ACRIS 2014021100996002), recorded the same day, so the buyer put in roughly $1.5M of equity at closing.View the record on a836-acris.nyc.gov
  • Public recordThe sale deed is not yet in ACRIS: the latest deed on block 1945 lot 35 is the 2014 one, and PLUTO still lists the prior owner. The $9.4M price comes from 6sqft.View the record on zola.planning.nyc.gov

Sources

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