Small Wonder

You might want to haggle for this renovated loft on Water Street

By Virginia K. Smith | May 3, 2016 - 3:59PM 

If you've been looking for an apartment that combines the charm of a prewar with the high-end perks of a new construction condo, you might want to take a serious look at this studio for sale in the recently revamped Fulton/Seaport area downtown.

The apartment, a resale condo, is at 272 Water Street, a boutique condo building in a former warehouse with amenities including an elevator, private storage units, and lenient policies towards pets, pied-a-terres, and sublets. As for the apartment itself, it's got loads of exposed brick, oak floors, original wood beams, and a lofted layout that separates the bedroom from the rest of the apartment.

Besides basics like central air-conditioning and an in-unit washer and dryer, the apartment's been decked out with high-end appliances in the open chef's kitchen (including a 24-bottle wine refrigerator), and radiant heating floors in the bathroom (which also has a separate shower and soaking tub). From the looks of it, there's a cozy little walk-in closet, as well.

Unsurprisingly, none of this comes cheap—the seller is asking $1.499 million. This seems a bit steep; according to StreetEasy, it was last sold in 2012 for around $850,000, making it quite a price hike, so you may have room to do some negotiating. But, given the new school that just opened in the area as well as the soon-to-be-completed Fulton Market nearby, this studio might be a smart investment either way you slice it.


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