June Cheat Sheet: PH in SoHo Building Where Heath Ledger Lived and Died Asks $65M
The StreetEasy Monthly Cheat Sheet is a recurring feature that looks at the New York City for-sale market over the last four weeks, highlighting a combination of market data, StreetEasy user behavior, and topical trends. This is the report for June 2018.
Most expensive: The most expensive listing to hit the market in June is a $65,000,000 4-bedroom penthouse at 421 Broome St. in SoHo. In 2011, David Matlin, a distressed asset investor, and his wife, Lisa, purchased the penthouse for a mere $17,000,000. After seven years and a major renovation, the unit is back on the market for $65,000,000.
Fans of Heath Ledger might recognize the address as the place where the late actor rented an apartment for a few months before he died of a drug overdose in 2008. The $65M penthouse occupies floors 5 through 7 and Ledger rented the entire fourth floor loft apartment for $25K a month. The actor, remembered for his riveting portrayal as the Joker in the “Dark Knight” and his less riveting, but perhaps more charming portrayal as Patrick in “Ten Things I Hate About You,” rented it after he moved out of the townhouse he and former girlfriend Michelle Williams shared in Boerum Hill.
With more than 11,000 square feet of indoor and outdoor private living space, private elevator access on every floor, three levels of terraces, a Jacuzzi, a fountained garden, a fitness room and a coffee bar, it could easily be a luxury hotel. Arguably the most bonkers amenity is 700 square feet additional storage space, a size equivalent, if not bigger, than many NYC apartments. Assuming a 20 percent down payment of $13M on an interest rate of 4.54 percent, and including common charges ($23,000/month) and taxes ($13,336), the monthly mortgage payment would be $301,050 — suitable for an A-list celebrity or any number of deep-pocketed one-percenters who desire a trophy home.
Least expensive: The least expensive property to come on the market in June is a 1-bedroom co-op at 855 East 178th St. #17D in the East Tremont section of the Bronx. Listed for $57,000, and offering an eat-in kitchen, a generously sized living room and bedroom, the co-op combines a spacious layout with some lovely southern exposures. After a 20 percent down payment of $11,400, buyers will be on the hook for $704 in monthly payments, which includes maintenance fees of $473.
The unit does not appear to have income restrictions, making it a deal for any adventurous buyer ready for a renovation and a sixth-floor walk-up. The unit looks like it’s on the top floor of a prewar building without an elevator.
Most popular: The most popular listing last month was a $1,088,000 2-bedroom condo at 342 Bond St. #3A in Carroll Gardens. This condo combines a great location, sleek interiors and a sweet private rooftop terrace. Although the apartment isn’t cheap, the price is fair given the mix of amenities and perks. No surprise, then, that it has racked up more than 450 saves.
The image gallery above makes clear — this condo is spiffy. Lots of natural light, floor-to-ceiling windows and careful attention to detail are all evident. And, of course, the private roof deck makes a strong impression too. What you don’t get from the pictures, however, is that apartment offers some great amenities including an in-unit washer and dryer, a parking garage, low monthly taxes, multiple walk-in-closets and a pet-friendly building policy.
Best price cut: Five-bedroom duplex maisonettes don’t come along too often, especially in outer borough neighborhoods like Park Slope. The scarcity of this sort of housing stock may explain the original asking price of $3,495,000 that unit #2D at 35 Prospect Park West was asking when it was listed back in late February. After five months on the market, however, the co-op got a 16 percent discount of $560K. Now listed for $2,935,000, the unit may attract more buyers, but is still priced well above Park Slope’s median asking price of $1,572,000.
With square footage comparable to a townhouse and amenities to rival that of a luxury building, the apartment could be the best of both worlds. As the images above reveal, however, it’s definitely lacking the historic charm of a brownstone. Will the recent price cut be enough to incentivize Park Slope buyers or will they put their $3M towards a place with more character? Time will tell!
Value of all sales: For June 2018, the total value of all sales listings added up to $44,412,969,270. This marks a small decrease from the total value of all sales for May, which was $44,697,441,881. This also marks the first decrease in total value of sales this year, suggesting that we are coming out of peak home shopping season and entering the typical summer slow down.
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