It was only a matter of time. I’ve been saying for the past 30 years that eventually downtown Brooklyn would get assimilated into Manhattan, and lately it’s been more and more apparent that Brooklyn has indeed become an extension of that island, with a greater parity on pricing then ever before.
Case in point: 177 Pacific St which just closed for a staggering $15,000,000, almost triple of what similar sq ft Cobble Hill townhouses are trading for at this time. This is proof that the monied Manhattan gentry has green lighted Brooklyn as a place where they can spend their trust fund/ bonus dollars just as easily and confidently as on white gloved Park Ave coops.
Of course, 177 Pacific St is done to the nines, with every amenity possible constructed into the house, i.e., wine cellar, screening room, even a roof deck with a private stream! However, at approximately 6-7,000 interior sq ft, the sale breaks the $2,000 per sq ft barrier for sales in Brooklyn, and is on par and perhaps even higher than some townhouse sales in various sections of Manhattan.
Of course others will comment that such a renovated home, with such amenities, would be worth $40,000,000 in Manhattan, but who’s to say?
Now that this sale has closed, word is that something is coming to market in Brooklyn Heights with a price tag of $40,000,000! Go Brooklyn!