Dumbo condo breaks Brooklyn record

TRD New York /
May.May 01, 2008 02:59 PM

 
A $7 million-plus sale of a 14th-floor penthouse at Dumbo’s Clock Tower Condominium, a former corrugated cardboard factory built in 1915, has broken Brooklyn’s most expensive condo record.

The new record comes just two months after Elizabeth Stribling, founder of Stribling & Associates, set the record by buying a $6.6 million penthouse apartment at One Brooklyn Bridge Park, which she is marketing.

Karen Heyman, senior vice president of Sotheby’s International Realty’s Downtown Office, told The Real Deal that two West Coast men working in the financial industry bought the Clock Tower penthouse. The apartment had listed for $7.8 million, but Heyman could only confirm that the price topped $7 million.

The 3,200 square-foot, three-bedroom, two-and-a-half-bathroom apartment had been on the market since August 2006, when it listed with Sotheby’s for $10.5 million. Heyman said the former owners, Bliss Spa founders Thierry Boue and Marcia Kilgore, weren’t “really particularly motivated at that time to sell” and rented the penthouse out for a year while the price was cut repeatedly.

Heyman said the buyers plan to use the penthouse — last renovated at least seven years ago — as a pied-a-terre, and would begin their own renovations before moving in.

“They have a place here [in Manhattan] but they absolutely love Dumbo,” said Heyman.

Developer David Walentas, known for turning Dumbo into a residential neighborhood, lives in the 15th floor penthouse. Walentas bought the building for just $6 a square foot in 1981.

Heyman said the 16th floor, with views of the city behind a glass-faced clock, is under renovation and “will definitely be the most expensive unit in Brooklyn” when sold. It is expected to sell for up to $30 million.

Hayman said she just sold a ninth-floor condo for $3.99 million, the second-highest sale in the building, without listing it. She said the buyer is a woman “who loves Dumbo and wants to be close to her grandchildren.”

Another condo is in contract for $2.87 million, to a German looking for a pied-a-terre.

A three-bedroom, three-bathroom condo on the ninth floor that sold for $3.16 million in March 2007 is back on the market for $4.3 million.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Keller William's Ilan Bracha (left) and B+B Capital's  Haim Binstock with 575 Fifth Avenue (Credit: Getty Images, Google Maps)

Keller Williams NYC is on the sale block

Bhavana Chamoli and Michael Shah

Michael Shah’s ex arrested for assault, but DA holding off

Federal Realty Investment Trust CEO Donald C. Wood and Georgetowne Shopping Center (Credit: Google Maps)

Fairway-anchored Bergen Beach shopping center sells for $85M

TRD’s fall tri-state issue is live to subscribers!

TRD’s fall tri-state issue is live to subscribers!

Masayoshi Son

Small Talk: Our foolproof plan to get SoftBank’s investments back on track

arrow_forward_ios