Luxury pick of the week

A Dumbo condo in a converted factory with views of Manhattan, for $4,795,000

The apartment has a great room with beamed ceilings and Siberian wide-plank flooring, and an 800-square-foot terrace.

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Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,000,000, the current entry threshold for luxury apartments in Manhattan. If you’re in the market for a high-end abode, you should know that while sales have slowed considerably over the past couple of years, that trend is starting to reverse as sellers come to grips with the new market reality and adjust their prices accordingly. It's good news for your wallet—just be aware that many luxe listings won’t linger on the market indefinitely. For more information, check out Brick Underground’s tips on buying a luxury apartment in NYC.

If you’ve been to Dumbo on a summer weekend, you know that’s when the Brooklyn neighborhood teems with New Yorkers and tourists taking photos, even in the middle of the street, to better capture the very picturesque cobblestone streets and rehabbed brick commercial buildings.

With the drama of the Manhattan Bridge overhead, the nabe has the feel of a movie set. But it’s a real, albeit pricey place to live, with high-end boutiques.

If this appeals to you, and you don’t mind the crowds, check out 200 Water St., #5A. This building is not right in the heart of the touristy part of Dumbo, in the area around Fulton Ferry Landing, which is likely a good thing. It does however have the requisite cobblestones and the building is a former Brillo factory—a rather plain, boxy structure.

But what you see on the outside is not always an indication of what you get on the inside. This is a three-bedroom, three-bath condo with a huge layout of 2,552 square feet. There’s a great room with beamed ceilings and Siberian wide-plank flooring, and an 800-square-foot terrace with views of the East River, Manhattan Bridge, and Lower Manhattan.

The 1950 factory building—which was once part of the Jehovah’s Witnesses collection of buildings in the neighborhood—was converted to condos in 2015.

It is asking $4,795,000 with monthly taxes of $2,454 and common charges of $2,715. The asking price is not far off its 2017 sales price of $4,400,000.

The owners did some minor work and say they loved living near a park with views of Manhattan. Dumbo is “dynamic, creative, and fun,” in their words, via their broker.

The owners’ favorite part of the apartment is the chef’s kitchen, which has views to the terrace, which has a gas grill and electric and water hookups.

The kitchen has custom lacquered cabinetry and a Danby marble waterfall island with matching countertop and backsplash. There’s a Sub-Zero refrigerator and wine cooler, Wolf range, and Insinkerator garbage disposal (which is legal in NYC but unusual, because older pipes can’t handle them).

The three bedrooms face south and two of them have en suite baths. 

The master suite has an enormous bath that is over 214 square feet with floor-to-ceiling Blanco Carrara tile, a double vanity, and walk-in rain shower.

The apartment has a laundry room with a full-size, vented washer/dryer, and a guest bathroom. It also has central air.

Building amenities include a common garden, windowed gym with two Peloton bikes, and an attended lobby with 14-foot ceilings. There are 15 apartments.

It is two blocks from the F train at York Street and close to Brooklyn Flea. It’s a short walk to the waterfront parks.