A historic Brooklyn Heights townhouse is set to become the second most expensive single-family home ever sold in the borough.
The renovated, five-bedroom mansion at 1 Sidney Place is in contract for about $22 million, according to a source familiar with the matter, just shy of its $22.5 million asking price.
If the sale closes, the property would be runner-up to 8 Montague Terrace, also in Brooklyn Heights, which sold for $25.5 million in 2020.
Both homes were represented by Douglas Elliman’s Lindsay Barton Barrett, who declined to comment, as did Abigail Palanca of Serhant, who represented the Sidney Place buyer.
The home is being sold by Brooklyn Home Company, which extensively renovated the property under the watchful eye of the city’s Landmarks and Preservation Commission. The project added a parking garage and made extensive updates to the interior.
The house, built around 1870 at the corner of Joralemon Street, has an elevator and three levels of private outdoor space, including a rooftop terrace with a grill and refrigerator, according to the listing. New lighting, millwork and fixtures by Plain English, Waterworks and Ralph Lauren were added, as was a kitchen with Calacatta marble and custom cabinetry.
The third floor is dedicated to the primary suite, which has a bathroom with a freestanding tub, double vanity and private water closet. A suite on the garden level has a bedroom suite “ideal for staff,” according to the description.
Brooklyn Heights is the borough’s priciest neighborhood, but others also have homes that sell for eight figures. A mansion at 53 Prospect Park West set the Park Slope townhouse record in December when it sold for $13.5 million. Cobble Hill’s record remains $15.5 million for 177 Pacific Street in 2015.
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Townhouse valuations have risen significantly, even since the pandemic-era housing boom. While high mortgage rates hampered pricing and sales in the condo and co-op markets, townhomes managed to sustain their activity, as their higher asking prices attract buyers who tend not to rely on financing.