Luxury pick of the week

A Chinatown loft with a library that could be a third bedroom, for $3,995,000

The apartment has an open-concept living and dining area, and features a fireplace.

Douglas Elliman

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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 want to be Downtown, and don’t mind the very crowded streets of Chinatown, this loft at 129 Lafayette St., #4C, may be worth a look. It has two bedrooms and a library that can be easily converted into a third bedroom. Even if you do the conversion, you still have a large living and dining room.

The 2,000-square-foot condo has two baths, a private terrace, a semi-private landing and ceiling heights over 12 feet.

The apartment is asking $3,995,000, which reflects a $200,000 price cut about three weeks ago. (It last sold for $3,495,000 in December 2015).  Monthly common charges are $2,750 and taxes are $780—they’re low because there’s a tax abatement in place. It expires in 2023.

The apartment has an open-concept living and dining area. 

The kitchen is designed by Valcucine and has lacquered cabinetry. Appliances include a Sub-Zero refrigerator, Viking stove, and Thermador double ovens.


In the master bedroom is a huge walk-in-closet, and a spa-like en-suite bathroom with a double vanity, soaking tub, and separate, walk-in shower.

The current layout is set up with a second bedroom and a library that can be closed off to create a true bedroom overlooking the balcony—however, there’s one odd touch here: The washer dryer is in an alcove in the library. A proposed layout suggests creating a hallway to preserve access to the washer/dryer, but that means a creating lot of dead space. Another option is to incorporate the washer/dryer into the room in a closet. This way the bedroom would gain a window, and a whole lot more space.

 

The 1900 building is a full-service condominium with a 24-hour attended lobby, full-time resident manager and landscaped roof deck with elevator access and panoramic city views. There are 27 units and 12 stories.

There’s lots of restaurants and shopping in the immediate neighborhood, with Le Cou-Cou, the Blonde, and Opening Ceremony nearby.