Celebrity Interest in Dumbo Clocktower
The Post is reporting that there’s been some interest in the 7,000-square-foot quadriplex at One Main Street in Dumbo. Not surprisingly given the $25 million price tag and the bling factor, the list of interested parties has included a couple of bold-faced names, most notably Jay-Z and Ralph Lauren. Clock Watch [NY Post] GMAP
The Post is reporting that there’s been some interest in the 7,000-square-foot quadriplex at One Main Street in Dumbo. Not surprisingly given the $25 million price tag and the bling factor, the list of interested parties has included a couple of bold-faced names, most notably Jay-Z and Ralph Lauren.
Clock Watch [NY Post] GMAP
if read the book, would tell you how to spot one and then you could marry a millionaire. that is easiest way to get ahead. marry well.
why would i read that book? it would probably just make me feel bad about myself, which is why i steer clear of the self help section of bookstores. that shi+’s depressing!
*rob*
I knew someone who lived there, who was on the board, and who is a director of engineering at a large Manhattan financial institution. He did sell, but he told me he thought here was a RE bubble so he sold to rent. Turns out he was right!
He did say there were major problems with the masonry, the powerhouse, and other stuff. He left me the impression that most of the big problems had been or were being corrected. He would know. That’s what he told me anyway.
> It is the ones who dress modestly and drive that beater who
> save half their paychecks and end up with quite a bit of money.
Yup. And Old Money doesn’t flaunt it either.
I didn’t say 1 Main was over. I said it’s mismanaged and virtually everyone I know who lives there currently or has ever lived there (myself included)is happy to be free of the place. As I pointed out, the fact that virtually every person who ever served on the board (I think it actually works out to 85%) has sold, speaks volumes. As someone who does not live there, all you have to go on is what you’re told by people who likely don’t know the long history, the protracted lawsuits, the fights in the building, etc. For a long time the place was a horror show, and from what I know firsthand, and from people who still live there, the discord is far from over. Pretty recently there erupted a problem re: the building’s finances. A person with excellent credit was turned down for refinancing because the bank deemed the condo a bad risk. That’s not me being a “frownstoner,” it’s reality.
A cursory look at the sales of 1 Main on StreetEasy shows that people can’t get their asking price and they’re, one by one, taking their units off the market. This is happening, in part, because potential buyers, regardless of their credit, are either being turned down by lenders or required to put up a hefty down payment, as the building is under capitalized.
Just a note: The most recent sale at 1 Main was one of the celebrities in question and he sold it for $200,000 less than what he paid for it in 2005.
Denton, I bet a fiver Rob aint reading that book.
dibs said: “rob, you should read a book titled “The Millionaire Next Door” Many of your neighbors are probably millionaires right now.”
then rob opined:
“well they sure as hell dont dress like it”
rob, that’s exactly why you should read the book. The point of the book is that people who ‘look’ like millionaires to suckers like you are usually not. If they wear flashy clothes and drive flashy cars and reno their kitchen every year, under the surface they are probably deeply in debt.
It is the ones who dress modestly and drive that beater who save half their paychecks and end up with quite a bit of money.
The book may apply less here than in other parts of the country but nevertheless it would be a good read for you.
Well I think I know who will be winning the frownstoner award of the day.
People relocating to another country or renting for a few months while doing a show in New York and then leaving is not symbolic of people abandoning this place any more than any other building.
Glen Close just put her place on the market at the Beresford on the UWS and I heard about another celeb selling their place. Does that mean the Beresford is over? According to you, yes. I guess that must stay for life, or it doesn’t count.
In any event, sales prices at One Main have been very healthy, from what I’ve seen on Brownstoner.
I’ve been in the building many times (have friends there) and I’ve never noticed that the owners were older…in fact they all looked like they were in their 30’s and 40’s with kids.
What’s wrong with vapo-rub anyway?
As someone who lived and/or owned in 1 Main, 70 Washington and Sweeney, I can’t help but say, 1 Main is a dump. It’s mismanaged, there is a perpetual capital reserve problem, the many things they claim to have fixed were done on the cheap, so they’ll likely be revisiting them again very soon. Virtually every person who has ever served on the board at 1 Main, has sold their unit and fled (which says a lot). As for the $25mil loft, it may have an elevator inside it, but to get to the unit you use a common elevator shared by everyone. Not very exclusive. Also, I know people get all moist about those stunning views, but I gotta tell ya, after awhile, it ain’t all that. Assuming the thing sells (and I’m skeptical), whoever buys it, for any amount, is a jackass. Even the few “celebrities” that lived there are gone. Ben Vereen rented and left long ago. The guy from “Blue’s Clues” left years ago and now sublets his apt., and a very-relieved Skip Sudduth recently unloaded his place. Marcia Kilgore and her husband Thierry (of Bliss Spa) fled in 2005, removed their business out of a Walentas-owned commercial building, and relocated to London, never looking back. The Clocktower Condo is now populated by the insufferably bourgeois, and the majority of the residents are 60+ years old. The place is a retirement home. If you stand in the lobby you can smell the Ben-Gay and Vapo-Rub.