Why this Blog Exists

To make the case for expanding the Park Slope Historic District

Tuesday, May 5, 2009

Louis Bonert: Union Street, 1894

Today we present yet another row of classic four-story, four-family single flat houses by Louis Bonert, this time on the north side of Union Street east of 6th Avenue.

A New York Times article previously posted on this blog records Bonert's purchase of these lots in early 1894 ("a plot of lots on the north side of Union Street"):

New York Times, February 14, 1894, p. 12 ("Brooklyn Realty Matters")

A subsequent article in December 1894 records the sale, brokered by John Pullman, of the buildings that Bonert constructed on these lots:

New York Times, December 1, 1894, p. 15 ("Brooklyn Realty Matters")

A glance at our comprehensive Park Slope photograph database reveals that Bonert constructed precisely the kind of four-story, four-family flats that he was building all over Park Slope in 1894:

799-803 Union Street - unprotected

803-809 Union Street - unprotected

807 Union Street - detail

807 Union Street - detail

If the six lots cost $18,000, then each lot cost $3,000. The construction cost was $6,500 each, based on these nearly identical buildings in 6th Avenue. Thus the total unit cost was $9,500. As recorded above, Bonert sold each building for $12,000, for a profit of $2,500 each, for a return of about 26% in less than a year if our math is correct.

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