Done Deals
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
RED HOOK
29 Tiffany Place
Three-bedroom, two-bath condominium
Asking price: $815,000
Selling price: $830,000
Time on the market: eight weeks
Monthly costs: $626
TAX HAVEN Not only does this 1,500-square-foot apartment have 12-foot ceilings with the original timbers and structural columns, but because the building was converted to residential from manufacturing, there are no real estate taxes due on the units for another decade. This tax abatement, known as J51, means the buyer of this apartment, which is one block from the water on a cobblestone street, owes only $9 a month in taxes for the parking space. The sellers are a couple with a young son whose investment banking firm is relocating them to San Francisco.
The buyers, a Japanese couple who do freelance media consulting, have a little girl and plan to run their business from the apartment, which has a home office.
The Corcoran Group’s Linda Wolff was the exclusive broker on the deal.
The building, which is between Kane and Degraw streets in what could be called Cobble Hill West, was converted to condominiums in 1997. It has a doorman, a gym, and a common roof deck with views of the Manhattan skyline.
CHELSEA
221 West 21st Street Studio cooperative
Asking price $299,000
Selling price: $350,000
Monthly costs: $624
Time on the market: a week
SIZE DOESN’T MATTER Despite the diminutive size of this 450-squarefoot junior one-bedroom, nine potential buyers bid more than the asking price in the one week the apartment was on the market. Its location between Seventh and Eighth avenues, where two subway lines run, the apartment’s southern exposures, and a wood-burning fireplace overwhelmed the fact that it was the size of many people’s closets, said the listing broker Fredrik Eklund of JC DeNiro & Associates, who is partners with Andy Pellot. Hardwood floors, exposed brick, and the building’s pet-friendly policy also added to its appeal.
The seller, an elderly woman, had been renting the apartment as an investment property and decided to cash out. Tony Moran of Citi Habitats represented the buyer, a single woman who bid the highest.
MURRAY HILL
200 East 27th Street
Studio cooperative
Asking price: $365,000
Selling price: $365,000
Monthly cost: $604.99
Time on the market: three weeks
TRICKS OF THE TRADE A broker at Citi Habitats, Jonathan Pohl, used tricks he learned in the real estate business to sell his own 500-square-foot apartment in an elevator building, which boasts a full-time doorman, a roof deck, and a gym. Since he was moving in with his girlfriend and in need of bigger digs, he bought a one bedroom unit in the same building for “north of $500,000,” the savvy broker told The New York Sun. A single woman in her 30s who works for American Express bought the studio. It has hardwood floors, high ceilings, and an open city view. The buyer’s broker was Sue Caplan of Bellmarc.