Deadline Set For Kensington Stables Auction; City Still In Negotiations To Buy

WINDSOR TERRACE, BROOKLYN — Kensington Stables will go up for auction next month unless a buyer saddles up with a big enough bid, according to the agent managing the sale.

Marc Yaverbaum, the agent, told Patch that negotiations "have really soured" with a few of the interested parties who stepped forward when it was announced in February that the property was for sale, "but we’re moving forward with the auction to sell it to the highest and best bidders."

The city, though, is still in talks to buy the stables, Yaverbaum said, after Brooklyn Borough President Eric Adams and City Councilman Brad Lander pledged a combined $1.5 million toward the sale. An initial auction of the property, scheduled for February, was postponed after Lander said he would oppose any re-zoning that didn't commit to keeping the property a stable.

If no deal is struck for the property, an auction will take place June 22, with a final bid deadline of 4 p.m. on June 19, Yaverbaum said.

"We’re still negotiating with" the city, Yaverbaum said. "We haven’t been able to work out a deal. We were hoping to have a deal by now, but unfortunately we have not. There’s no deal on the table."

Stable owner Walker Blankinship told Patch the city wouldn't be his first choice for a buyer, but it may be the best bet to keep the property a stable instead of a luxury condo tower.

"I would like to see horseback riding stay. I’m not sure the city is the absolute best option for that at the moment, but it is what it is," Blankinship said. "Unless a private owner is going to come in and swear on a stack of bibles or in a contract that it will stay a stable, I think it’s the best option."

Blankinship added that the auction price for the stable "is for $2 million, but obviously we’re going to take something a little less than that."

Patch has reached out to Lander's office and Adams' office, and we'll update this story if we hear back.

Image: Patch file photo