Kensington Stables Sold, Will Remain Horse Barn For Now: Report

WINDSOR TERRACE, BROOKLYN — Kensington Stables was reportedly sold at auction to a buyer who will keep the property as a horse barn for now.

The bankrupt property went to an unnamed buyer who has pledged to keep the stables open, alleviating fears – temporarily at least – that a buyer would opt instead to build condos or a mixed-use development on the lot, Brooklyn Paper first reported.

"The new business partner will pay those debts off and we’ll be partners in running the business," Walker Blankenship, who owns the stables, told Brooklyn Paper.

The new buyer will also put money into renovating the downtrodden facility, Brooklyn Paper reported. The contract between Blankenship and the buyer is reportedly for five years.

"Because I’m part of the agreement, I’ll maintain control of the property, and I’ll have a lot of say in the matter," Blankenship said. "If it can be made successful, we could go on indefinite­ly."

Reached Wednesday afternoon by Patch, Blankenship said he was unavailable to talk and would call back later.

Read the full Brooklyn Paper story here.

Robert Carroll, a Kensington native who represents the area as its assemblyman in Albany, welcomed the news.

"All things considered, I'm happy that there seems to be a resolution that, for the next five years, maintains that this will be a stable and a place for horses for the foreseeable future," he told Patch. "That’s a positive development."

Blankenship said in February that the stable would have to be sold in order to pay off unpaid debts racked up by his father. City Councilman Brad Lander was clear that he would not approve a rezoning at the site that didn't include a horse stable.

In August, the city put together a bid to buy the property, but it fell through because the city couldn't guarantee that Blankenship would remain as its operator.

"It’s wonderful," Carroll said of the reported sale Wednesday.

"The reason why the neighborhoods of Windsor Terrace and Kensington are interesting and places people love is because of their unique character. And part of that is the stables and, of course, the park where people go to ride these horses."

Photo: Patch Staff