Co-op of the Day: 1 Pierrepont Street 3BR
A massive apartment at Brooklyn Heights’ swankiest address has just hit the market. This high-floor three-bedroom co-op at 1 Pierrepont Street has been under the same ownership for three decades and retains much of its original charm, though the apartment does sport a large, recently renovated kitchen with all the trappings. The monthly maintenance is…
A massive apartment at Brooklyn Heights’ swankiest address has just hit the market. This high-floor three-bedroom co-op at 1 Pierrepont Street has been under the same ownership for three decades and retains much of its original charm, though the apartment does sport a large, recently renovated kitchen with all the trappings. The monthly maintenance is $3,640 and the asking price is $4,500,000. We’ll be mighty surprised if this asking price is achieved. After all, the most recent sale in the building was a four-bedroom that went for just $3,150,000 after dramatic price cuts. Update: As a commenter points out, Property Shark and StreetEasy both have the wrong sales price for 8A. As per city records, the actual sales price was $4,650,000. How does that change your outlook?
1 Pierrepont Street 3BR [Corcoran] GMAP P*Shark
$1000 sqft. thats my bid
Noki, the apartment that sold for $4.65M was at least a third bigger, an 10 or 11 room monster. This is a classic 6, much smaller asking $4.5M. You were spot on, unless they go for the same deep cut strategy. The bigger apartment started at $6.2M initially.
“How does that change your outlook?”
Well it certainly changes mine. I had thought that the owner’s were clearly unmotivated and not serious. Now I’d say that I didn’t know what I was talking about if similar apartments in that building had average bids of 4.7 something. Who the hell knows?
It still feels utterly batsh*t crazy to me, but I guess some rich people really really want to live in that building and are willing to pay a premium to do so. Weird.
Works out to about $2,150 psf. Could that be right?
i think the last sale was a 4 with a library not at classic seven…..
and to those commentators above, this is a very fancy heights building, not your usual cooperative can’t compare… look at size of living room, view, WBFP, heavy crowd in the building, past BAM Chair, fancy architects/business owners, finance
I’m not sure I know too many “factual conclusions”, but I’m sure you’ve spent some time watching fireworks from that common room. And what else? That weird waterview unit rule? I assumed they would have had that since conversion. No?
Now is when we really need 11217 to give us listings for better apartments with much better prices. Come on back man!
Ringo- you seem to know an awful lot about this co-op board and their rules. Really inside stuff.
I say that because I grew up in that building and I don’t have as many factual conclusions about their behavior as you.
It seems wildly overpriced to me, like 30% or more over. Who would buy a classic 6 made into a 3-bedroom when they could have a house? Maybe I have a house bias?