The Real Deal New York

Gibraltar penthouse in Greenpoint under contract for record-breaking $1,482 psf

Deal bests neighborhood's prior $1,350 psf record

November 18, 2015 05:20PM
By Kathryn Brenzel

Renderings of the Gibraltar at (inset: )

Renderings of the Gibraltar at 160 West Street in Greenpoint (inset: Bryan Atienza)

Money still can’t buy an easy commute from Greenpoint, but it can fetch a pretty sweet pad — an unnamed buyer is in contract to purchase a 1,400-square-foot waterfront penthouse at Saddle Rock Equities’ the Gibraltar for $2.1 million.

The per square foot price at the new condominium, at $1,482, is a record for the G train-locked neighborhood. According to listing agent Bryan Atienza, of Nest Seekers International, the prior record-holder was the June sale of 90 Guernsey Street Unit 6, which sold for $1,350 a square foot.

Prices in the neighborhood have been on the rise, and a search on StreetEasy shows that many properties have captured more than $1,000 per square foot in the last year. According to a Douglas Elliman report, the average price per square foot for a Greenpoint condos in the third quarter of 2015 is $1,007, compared to $983 in the third quarter of 2014. The report pegged the neighborhood’s median sales price at $875,000.

The three-bedroom penthouse at the Gibraltar features a private 861-square-foot rooftop deck, East River views, 12-foot ceilings and a garage parking spot, said a spokesperson for Nest Seekers. The building is expected to be completed next year. Anna Rocki and Bram Lefevere of Miron Properties represented the buyer.