One of Brooklyn’s most distinctive buildings, known as the Broken Angel, has sold for $4.1 million.
The brick townhouse became an iconic part of the Clinton Hill neighborhood after artist Arthur Wood and his late wife, Cynthia transformed the property with homemade installations and stained glass windows.
However, the property was determined to not up to code in 2006 and the owners attempted to fund renovations through a condominium conversion. The conversion failed and Madison Realty Capital took over the property, located at 4-8 Downing Street after Wood defaulted on a $4 million mortgage, according to the New York Observer.
The property hit the market in February 2013 asking $4.5 million and the new owners are Brooklyn development firm Barrett Design & Development. The firm plans to move forward with conversion plans.
“We are thrilled to begin work on this important project. The property has a great deal of history, dating back to its construction as a walk-up apartment building in the 1880s,” Alex Barrett, founder of Barrett Design, said in a statement. [NYO] –Christopher Cameron