Summary: With their smaller properties now sold, Brooklyn Law School is taking offers until July 17th for the perfectly located Brooklyn Heights housing building.
Brooklyn Heights has a new property for sale, 2 Pierrepont St. Thirty years ago, Brooklyn Law School bought the 12-story building for the bargain price of $2.2 million. The school used the building at faculty and student housing. They are now looking to sell it so that they can invest in the school in other ways.
The law school has been selling-off property in the Brooklyn Heights neighborhood. This location is considered their best located asset with a direct view of the Brooklyn Heights promenade. There is no asking price for the 39-unit building but estimates are that it could go for $30 million. The location is ideal for converting the building into luxury condos.
Real estate in Brooklyn Heights is at a peak and has a very small condo inventory. Just around the corner is Brooklyn’s most expensive home, listed at $40 million. The property called the Low Mansion boasts 15-bedrooms and 16-bathrooms. The mansion dates back to 1856 and is named after its former owner, A.A. Low. His son, Seth Low was New York City’s mayor.
Other properties that the school has sold include the sale of a multi-family portfolio of six addresses to Jared Kushner, real estate mogul and husband to Ivanka Trump, for $36.5 million. He is turning the locations into high-end homes.
Photo: newyorkyimby.com