Two weeks ago, we noted that one of the newly built townhouses on the former Bahr Lumber lot had been listed for re-sale. This week we got another measure of the Durrell Street properties: Tom Jacobsen, who heads Verona’s construction code office, told the Town Council on Monday night that all 33 of the townhouses have found a buyer.
But if you are looking for new construction, all is not lost. On Monday, the Town Council introduced an ordinance that could jumpstart the building of two small apartment properties across from the Richfield Regency (watch the meeting here). If approved at the Council’s next meeting, Ordinance 7-15 would authorize a so-called PILOT plan for the former Brunner auto dealership property. The Board of Adjustment approved the new construction in January 2014, but the project has languished since then for lack of financing. A PILOT (payment-in-lieu-of-taxes) can make a real estate project more palatable to bankers because it establishes a stable, predictable tax payment. The PILOT for Verona Place Urban Renewal LLC, which will build 20 one- and two-bedroom apartments, would be a 30-year agreement.  Mark De Mattheis, a 1983 graduate of Verona High School, is the company’s principal.
One other real estate issue of note on the Council’s agenda: A resolution designating the former Annin Flag factory and the original site of the Verona Inn as an area in need of redevelopment. Russo Development, a builder of large residential and commercial properties, has shown the Council a concept plan for reviving the flag factory as loft apartments and constructing a loft building that is almost a mirror image on the adjacent lot. (If you want to see the concept plan, go to Town Hall and ask clerk Jennifer Kiernan.) It’s not yet known when Russo will start work on the Annin property.
There are three new listings this weekend, four open houses and five homes with lower prices. And a commercial property price adjustment of note: The former Lucy’s Diner site was listed in May 2014 at $369,900, but came back on the market last month at $499,000. The property at 467 Bloomfield Avenue is now priced at $399,000.
New Listings
122 Grove Avenue: 3 beds, 1 bath. New kitchen, steps from F.N. Brown elementary school. $320,000.
2 Claridge Dr Apt 6EE: 2 bed, 2 bath condo in full-service high-rise building. $399,900.
11 Crestmont Road: 7 beds, 3 baths. Located near Kip’s Castle. $735,000.
Open Houses
8 Cypress Avenue: 4 beds, 1 1/2 baths. Bi-level with new driveway, garage doors. $449,900. Open house Sunday, 1Â to 4Â p.m.
83 Franklin Street: 4 beds, 3 1/2 baths. Renovated home on dead-end street. $499,000. Open house Sunday 1Â to 3Â p.m.
25 Church Street: 5 beds, 2 1/2 baths. Craftsman colonial. Walk-in wine cellar. $559,000. Open house Sunday, 2Â to 4 p.m.
73 Fairway Avenue: 5 beds, 3 1/2 baths. Eat-in kitchen opens to yard, in-ground pool. Cut another $30,000 to $599,000. Open house Sunday 1 to 5 p.m.
Price Changes
226 Linden Avenue: 4 beds, 1 1/2 baths. Finished basement. Cut $16,000 to $429,000.
13 Morningside Road: 3 beds, 2 baths. Central air, renovated kitchen, rear deck. Cut $20,000 to $479,000.
9 Martin Road:Â 4 beds, 4 baths. Master with walk-in closet, finished basement. Cut $10,000 to $515,000.
73 Fairway Avenue: 5 beds, 3 1/2 baths. Eat-in kitchen opens to yard, in-ground pool. Cut another $30,000 to $599,000. Open house Sunday 1 to 5 p.m.
2 Claridge Drive Apt. 10HW: 3 bed, 3 bath condo in full-service high-rise building. Dressing room, walk-in closet in master. Cut $160,000 to $790,000.
