Rental Townhouse At 102 Pierrepont Street Sells For $3M Cash

A former rent-controlled townhouse at 102 Pierrepont Street, between Henry and Clinton Streets, has sold in an all-cash transaction for $3 million to Ira Lifshutz, a local investor. The broker is Massey Knakal, which reports that the 6,600/sf home rests on a 20′x100′ lot, with six residential units.

Garden and parlor floors will remain one duplex unit with garden access; while the third floor offers two 1-bedroom apartments. Remaining floors comprise three 2-bedroom apartments. The building, located across from the Appellate Division Supreme Courthouse, was delivered vacant, with the exception of one rent-controlled tenant in place on the fifth floor.

Massey Knakal Director of Sales Stephen Palmese handled the transaction (with Senior Associate Winfield
Clifford). He comments, “A Brooklyn Heights townhouse has wide appeal. Ultimately, an investor purchased the property for over $450 per square foot.” (Photo: Massey Knakal)

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  • lori

    If the parlor floor and “garden” is one unit and the third floor has two 1-bedroom apts (which is a logical layout for a building that size), It doesn’t add up that there would be three 2-bedroom apartments in the remaining space.

  • Gerry

    I suspect that a problem with the Certificate of Occupancy resulted in this all cash sale. The CofO may not be valid.

  • Andrew Porter

    I know that one rent-controlled tenant, and I think he plans to remain there as long as he breathes.