Brooklyn Home sells Brooklyn Heights landmark for $12.5M, part of $16M complex
The entity Pierrepont81 LLC paid the Brooklyn Home Company‘s 81 Pierrepont St To NY Corp $12.5 million for the landmarked single-family property 81 Pierrepont Street in Brooklyn Heights. The deal closed on May 1, 2020, and was recorded on November 13, 2020. An application with the city’s Landmarks Preservation Commission indicated the buyer also acquired the adjacent parcel at 35 Love Lane for $3.5 million, also on May 1, 2020, but from a different seller for a total acquisition cost of $16 million. The new owner filed plans with the LPC to create a continuous cellar between the properties that will include an underground pool under the courtyard and a movie theater under 35 Love Lane.
The 81 Pierrepont transaction consists of 1 parcel, including the tax class single-family, attached or semi-detached (A5) and containing 8 residential units. The property is 6,569 square feet. The parcel(s) have total development potential of 8,189 square feet.
The average sale price per square foot is $1,526.
The contract date was April 9, 2020. The signatory for the buyer entity was Julian Wise, the chair of the real estate group for Schulte Roth & Zabel. The last time the property sold was April 1, 2017, for $7,000,000. The same attorney signed on behalf of the buying entity, which purchased 35 Love Lane for $3.5 million. William Caleo of Brooklyn Home was the signatory for the seller.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for 81 Pierrepont with one residential unit on April 7, 2020.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,062,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Julian Wise