All renderings of 168 Plymouth courtesy of Alloy Development via Sotheby's International
With a median sale listing price of
$1,986,500 and a median rent of $4,911/month, DUMBO remains Brooklyn's most expensive neighborhood to buy or rent an apartment. The waterfront district's last ground-up condominium, 1 John Street, held the record for most expensive apartment sold in the borough until 2017, when it was eclipsed by a penthouse in nearby Pierhouse, and more recently by top-floor sales in The Standish
and The Quay. With its cinematic streetscapes sliced by two great suspension bridges and easy access into Manhattan, it's unsurprising the waterfront neighborhood is so desirable. For better or worse, DUMBO is among Brooklyn's first to experience gentrification's full evolution -- from industrial entrepot to desolate artist enclave, to the tourist-filled live, work, play community it is today.
DUMBO from the Manhattan Bridge
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A sizeable portion of DUMBO lies inside a 2008-designated historic district All outward changes in appearance to the district's 91 buildings must be approved by the Landmarks Preservation Commission. Such was the case for 168 Plymouth Street, where after two attempts with the commission, building-owner Alloy Development was allowed to proceed with a top-to-bottom adaptive reuse of two pre-war loft buildings and construct a modern two-story penthouse above. Two years after being approved, the interconnecting daylight factory buildings have been reconfigured into 46 for-sale residences with delivery anticipated early 2021. Remaining one- to four-bedroom availabilities, , starting from $2 million are among DUMBO's last opportunities to purchase a sponsor unit in a classic, turn-of-the-century loft building.
Earlier this week, Alloy announced that 168 Plymouth's Penthouse A, the largest of its three penthouses, sold for $6.8 million. The deal is the neighborhood's priciest in the last three years, according to our data and the sales team. Its signed contract price, just $50,000 under the original ask, conveys continued strength in the Brooklyn residential market. The four-bedroom, 3.5-bath home comes with 1,565 square feet of outdoor space and ever-Instagrammable views of the water tower-crested neighborhood, Manhattan skyline, and East River bridges.
“The sale of Penthouse A marks an exciting milestone for the project as a whole,” said Jared Della Valle, CEO and co-founder of Alloy Development. “Over the past 10 years working in DUMBO, we have seen the strength of the Brooklyn market continue to prevail through good times and bad, and this is no different. We are always excited when buyers see the same unique value we do in DUMBO. 168 Plymouth is two great, old buildings. and we are proud to continue to build on our legacy in the neighborhood.”
Three other penthouse units remain on the market -- the two-bedroom PHC
listed for $3.74 million, the 3-bed PHD
listed for $4.6 million, and the 3-bed PHE
listed for $5.125 million. Also available are two of three townhouse units with both courtyard and direct private access from the street. Below, take a walk-through of the sensitive development and its recently signed Penthouse A.
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↓ 168 Plymouth spans three centuries of history, reimagining landmarked loft buildings from 1891 and 1921, and crowning them with a contemporary 21st-century penthouse.
↓ The project is situated on the southwest corner of Jay and Plymouth Streets, a short walk from the Jay Street subway station and steps from a newly-opened section of Brooklyn Bridge Park.
↓ A characterful view can be had from building's Belgian-blocked doorstep on Plymouth Street, where residents can decompress via a tranquil courtyard of reclaimed cobblestones and native plantings.
↓ Some townhouse units can also be entered from Jay Street
↓ Fire escapes, window shutters, and whitewashed brick coalesce to provide a magical glimpse of old New York. The garden courtyard was landscaped by Future Green.
↓ The lobby will feature authentic salvaged industrial elements
↓ Penthouse A is perched atop 42 Jay, a 7-story reinforced concrete building with large daylight factory windows built by Masury & Sons Paintworks in 1921
↓ The penthouse spans the building's entire tenth floor and features north, south, east and west exposures. The direct elevator entryway opens onto a view of an interior courtyard.
↓ The open layout features an expansive living room, kitchen, and dining space at the home's northwest corner.
↓ All homes have a custom RiFRA Italian kitchen with Miele appliances, porcelain stone countertops, a blackened Dornbracht faucet and a bleached white oak island.
↓ A grand master bedroom suite with two corner windows is located opposite the main living space and features a large walk-in closet, study/dressing area, and an en-suite master bath.
↓ In addition to a spacious main-level terrace, a staircase leads to a private roof deck with views of the river, city and bridges.
↓ The penthouse addition completed its steel frame in December 2019. Occupancy is anticipated for winter 2020-2021.
↓ Amenities include a full-time doorman, a courtyard garden, a shared roof terrace with a gas grill, a fitness room designed by La Palestra, two bike parking spots per home, and storage units and cabanas available for purchase.
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