Tick tock: DUMBO’s Clock Tower penthouse sells for a record-breaking $15 million

March 31, 2017 By Lore Croghan Brooklyn Daily Eagle
The penthouse in the DUMBO Clock Tower has a new owner — who paid $15 million for it. Photos courtesy of Corcoran Group
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Tick Tick Boom.

That’s the sound of condo-sales records being broken in Brooklyn.

News for those who live, work and play in Brooklyn and beyond

The penthouse of the iconic Clock Tower in DUMBO has finally sold — and it was a deal worth waiting for.

The price was $15 million, according to the Corcoran Group, the brokerage that repped the seller. The firm noted in its Friday announcement about the sale closing that this is a record price for condos in the borough.

Two Trees Management, the Walentas family’s company, was the seller.

The four walls of the triplex atop 1 Main St. each have 14-foot glass clock faces in them. The clocks actually tell time, in case you’re wondering.

The buyer was an LLC, the Corcoran Group’s announcement said.

The transaction has not yet shown up in online city Finance Department records. So it wasn’t possible to check the deed to see whether it was signed by any members of the purchasing LLC.  

Corcoran’s Frank Castelluccio handled the listing for Two Trees. Monica Luque of Douglas Elliman repped the purchaser.

The asking price was $18 million.

The sale was a triumph of perseverance: The unique apartment had been on and off the market at various times since 2010.

The very first time it was put up for sale, the asking price was $25 million.

The penthouse appeared in a 1985 Mickey Rourke film called “Year of the Dragon.”

The glam apartment sits at the top of a former industrial building that had been constructed in 1914 — which has jaw-dropping views of Brooklyn Bridge Park and the Manhattan skyline.

Two Trees Management’s condo conversion of the Clock Tower was a key move in its successful efforts to transform formerly dangerous and seedy DUMBO into a trendy neighborhood with ultra-expensive home prices.

“One Main was the first condo building developed by Two Trees Management and it’s truly remarkable how the area has been transformed since 1998 when the condos were selling for $250 per square foot,” Nicole Kolinsky, a Two Trees spokeswoman, said in a statement.

The company’s current focus is the development and long-term ownership of properties such as newly built rental tower 300 Ashland, which is across the street from Brooklyn Academy of Music and has cultural spaces for BAM and the community, she said. It is also developing  the 11-acre Domino Sugar Factory site.


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