$1,200 is the New $1,000
First comes word that the penthouses at One Hanson Place are set to fetch $1,200 a foot; now word that an ex-Goldman Sachs banker has plunked down $5.8 million for two lofts at One Main Street in Dumbo that add up to a combined 4,790 square feet. Jokes about how this is the end of…
First comes word that the penthouses at One Hanson Place are set to fetch $1,200 a foot; now word that an ex-Goldman Sachs banker has plunked down $5.8 million for two lofts at One Main Street in Dumbo that add up to a combined 4,790 square feet. Jokes about how this is the end of the neighborhood aside, this is serious stuff. $1,200 a foot? The sellers bought one of the units in 1999 and then picked up the other one in 2004; the combined price of the two units when the building went condo in 1998 was $1.55 million. As David Walentas, the building’s developer, and current resident of the iconic 6,000-square-foot clock tower apartment, said with characteristic modesty: “I made a lot of people rich. I’m happy for everybody.” Hard to argue with that.
Elsewhere in William Neuman’s weekly column, follow-up news on the Harlem real estate deal worthy of a Wall Street derivatives desk. The Times had already reported on that Yale prof John Geanakoplos had created an unorthodox structure for his purchase of a Harlem townhouse earlier this year. Now more details: He paid a minimum amount at closing at which time he also escrowed some more cash; if the price of homes in the area rose over a pre-determined period of time, the seller would get paid more; if not, the buyer would get the escrow returned. As another Yale professor, Robert Schiller. put it: “People don’t want to buy a house at the peak. They feel bad about that.”
Lastly, Neuman touches on last week’s rumors that Lev Leviev and Shaya Boymelgreen had had some kind of falling out. Officially, this is not the case. Their five-year exclusive relationship is just drawing to a close so they’re branching out.
Dumbo Is Humble No More [NY Times]
Ummm, I calculated $750 a foot for 1 hanson. Maybe just the upper floors are asking $1200. Asking is the key word, no one knows if they will get these prices!!!
This IMO shows that the price differential between Manhattan and Brooklyn continues to narrow. Brooklyn prices can continue to appreciate even while prices in the rest of the tri-state area decline slightly.
You’d think Goldstein would buy into a expensive place that received tax breaks from public and provided no affordable housing when he is criticising the tax breaks for a project that will provide some affordable housing?
its say every apt. has 360 degree views. Is that possible for a studio which sells for the high $300s?
Magic Johnson is involved in this project, and says that none will be made into affordable housing.
Well, then he should sell the apartment to a trustworth third party (his parents, trustworthy family member?) who would then sell it to Ratner, so he could have the cash, the fund raising pad AND his voice.
That would be a fantabulous idea Shahn, except that if one receives money from Ratner, one is no longer allowed to speak.
Who wouldn’t love to live in a penthouse overlooking ALL of Brooklyn? They are asking a Manhattan price for a Manhattan-style apartment. If I had the dough, I’d buy it in a second.
I think Daniel Goldstein should sell his apartment to Ratner for $4.0m, pocket some of the money, and use the rest to buy the penthouse at One Hanson Place.He could hold fundraisers there every weekend and hang a HUGE anti-Ratner banner from the top of the (current) tallest building in Brooklyn.