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n Brooklyn, five single-family homes have gone into contract this year with last asking prices exceeding $12 million. Four of these properties fit a familiar pattern: historic homes renovated by their owners and sold at a markup from their original purchase price. The fifth property, however, is unique - a five-story home at 170 Clinton Street that didn't exist as a single-family residence just a year ago. It's still months away from being move-in ready but has already gone into contract with a last asking price of $14 million.

    Eckstrom NYC, a development firm run by Carlos Saavedra and Nicole Eckstrom, is behind this project. They claim to offer a more efficient approach to townhouse renovation, handling the general contracting and navigating complex regulations. Buyers can enjoy a renovated home without the hassle and expense of a full renovation. However, this value proposition comes with a caveat: buyers must have an eight-figure vision in mind when signing a deal on an unfinished property.

    At 170 Clinton Street, Eckstrom has completed structural renovations, including seven bedrooms, a gym, sauna, double-height kitchen, and extra-wide backyard. The buyer will collaborate with the company to choose interior finishes. Saavedra attributes their success to a growing demand for townhouses in Brooklyn, where prices haven't stagnated despite interest rate hikes.

    Eckstrom's pivot from condos to single-family homes has allowed them to maintain quality at higher price points per square foot. Their portfolio now splits evenly between single-family homes and condos, with 18 purchases totaling $90 million over the past two years. Saavedra notes that profits can erode quickly on condo projects due to construction and lending costs.

    The townhouse market in Brooklyn is booming, with a 40% increase in signed contracts over the last year compared to the previous period. Condos and co-ops have seen an 8% increase in contract signings during the same time frame. Eckstrom's approach aims to attract a wider audience by providing buyers with a nearly finished product, allowing them to choose finishing touches without dealing with other people's choices.