133 Water Street Building Converting from Rentals to Condo

133 Water Street Brooklyn NY

133 Water Street, (the silver building in the above photo), currently a rental building, has started to sell apartment units as condos. According to streeteasy, there are four units on the market, all offered by Brown Harris Stevens:

  • $939k: #8A, 2 beds, 1,124sf, $838/mo maintenance ($835/sqft)
  • $885k: #3B, 2 beds, 1,057sf, $1007/mo maintenance, ($837/sqft)
  • $725k: #5E, 1 bed, 912sf, $680/mo maintenance, ($794/sqft)
  • $700k: #10D, 1 beds, 802sf, $598/mo maintenance, ($872/sqft)

Seems they are within current prices in Dumbo (at least in price per square feet), which is currently at a median of $827 per square feet, according to Streeteasy.

36 Comment

  • I hear the building had to convert to keep its tax exemption… was very rushed, the plan… and owners offered discounts to rental tenants that they had to accept very quickly, due to tax exemption deadlines

  • I hear the building had to convert to keep its tax exemption… was very rushed, the plan… and owners offered discounts to rental tenants that they had to accept very quickly, due to tax exemption deadlines

  • Anyone know how the soundproofing in this building?

    Also, how does one get a conventional mortgage for this type of arrangement? Most lenders require some type of owner-occupied to renter ratio.

  • Anyone know how the soundproofing in this building?

    Also, how does one get a conventional mortgage for this type of arrangement? Most lenders require some type of owner-occupied to renter ratio.

  • remember this from this very blog?

    http://dumbonyc.com/2009/04/09/133-water-street/

    carbon monoxide poisoning forcing folks out!

  • remember this from this very blog?

    http://dumbonyc.com/2009/04/09/133-water-street/

    carbon monoxide poisoning forcing folks out!

  • I also remember the signs “Rent like you own” that they had plastered in the windows.

  • I also remember the signs “Rent like you own” that they had plastered in the windows.

  • The soundproofing from Manhattan Bridge noise is very good. I was the acoustical consultant on the project years ago, and it has double sliding windows, each 1/2-inch-thick laminated glass. It keeps interior noise down to pretty low levels, especially considering how loud it is outside.

  • The soundproofing from Manhattan Bridge noise is very good. I was the acoustical consultant on the project years ago, and it has double sliding windows, each 1/2-inch-thick laminated glass. It keeps interior noise down to pretty low levels, especially considering how loud it is outside.

  • That CO issue was temporarily fixed with an extended chimney. Since then, the building next door (25 Washington St) has been turned into condos, so there’s no carbon monoxide.

  • That CO issue was temporarily fixed with an extended chimney. Since then, the building next door (25 Washington St) has been turned into condos, so there’s no carbon monoxide.

  • Sorry, don’t like anything about this building. I thought it was weak as a rental. Scarano strikes again.

  • Sorry, don’t like anything about this building. I thought it was weak as a rental. Scarano strikes again.

  • I’m a long time loft dweller and did not have high expectations but wanted to check out the building. Not that it’s perfect, by any means, but liked it more than I thought I would. Soundproofing is really good too, had to really listen hard to hear the bridge traffic.

  • I’m a long time loft dweller and did not have high expectations but wanted to check out the building. Not that it’s perfect, by any means, but liked it more than I thought I would. Soundproofing is really good too, had to really listen hard to hear the bridge traffic.

  • Pingback: From Rentals to Condos at 133 Water Street - The Broker Buddy

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  • Common areas are tired and worn. Apartments are…”meh”.

  • Common areas are tired and worn. Apartments are…”meh”.

  • Pingback: From Rentals to Condos at 133 Water Street – insiderater.com

  • Pingback: From Rentals to Condos at 133 Water Street – insiderater.com

  • Too many problems here. Do your homework on the owner and the architect. Not good. They went rental in 2009 as part of bankruptcy protection and now that’s coming to an end. So financials are pretty rough. Traditional financing from a reputable lender might be problematic. The place has a lot of wear and tear and is being touted (and priced) as luxury, but is far from it. Units are not being updated or renovated, so they’re pretty much “as is.” Fitness room is a mess and rooftop deck is literally splintering. Ventilation w/in the building is messed up. Renters experience odors from seemingly disconnected units… guy from two floors up and three units over is smoking pot, and surprise, so are you! Enjoy his burnt salmon an hour later! Tax abatement only has 7yrs left. So, imagine paying a steep price today and trying to sell in 5, w only 2yrs left on abatement. Buyers will also be looking at truly impressive places like 205 Water, which will still have 20yrs left at that point… how do you like your odds? The whole thing just feels messy and a little off. Proceed with caution my friends.

  • Too many problems here. Do your homework on the owner and the architect. Not good. They went rental in 2009 as part of bankruptcy protection and now that’s coming to an end. So financials are pretty rough. Traditional financing from a reputable lender might be problematic. The place has a lot of wear and tear and is being touted (and priced) as luxury, but is far from it. Units are not being updated or renovated, so they’re pretty much “as is.” Fitness room is a mess and rooftop deck is literally splintering. Ventilation w/in the building is messed up. Renters experience odors from seemingly disconnected units… guy from two floors up and three units over is smoking pot, and surprise, so are you! Enjoy his burnt salmon an hour later! Tax abatement only has 7yrs left. So, imagine paying a steep price today and trying to sell in 5, w only 2yrs left on abatement. Buyers will also be looking at truly impressive places like 205 Water, which will still have 20yrs left at that point… how do you like your odds? The whole thing just feels messy and a little off. Proceed with caution my friends.

  • Never been into the place myself, but walking on the Manhattan Bridge, the place looks crappy.

  • Never been into the place myself, but walking on the Manhattan Bridge, the place looks crappy.

  • 205 Water has a terrible abatement…the taxes per month are $700/month for a 1 bedroom and will go up. please do your homework.

    while 133 is an older building, the taxes are $26/month and will go up to about $300/month once the abatement expires…

    I do agree with the subpar roofdeck. the gym is fine. the building has the similar amount of wear and tear as 70 washington which sells for a lot more.

  • 205 Water has a terrible abatement…the taxes per month are $700/month for a 1 bedroom and will go up. please do your homework.

    while 133 is an older building, the taxes are $26/month and will go up to about $300/month once the abatement expires…

    I do agree with the subpar roofdeck. the gym is fine. the building has the similar amount of wear and tear as 70 washington which sells for a lot more.

  • 133 Water = 70 Washington like Pedros= Le Bernadin

  • 133 Water = 70 Washington like Pedros= Le Bernadin

  • I lived in the building for three years. The soundproofing is amazing. I live at 1 Main now and miss the silence (at 133, you literally don’t hear anything from the bridge — maybe at times a bit of a very soft rumble). You do, however, hear your neighbors from the inside. Not too bad, but not nearly as good as the building that I’m currently in. I also agree with the smells coming from other apartments, but this happens in any building. I kind of liked the place overall. The gym is fine, the roof is okay but very loud, the doorman is part time. I agree that it lacks the finish of some of the other “luxury” buildings in the neighborhood. Upper floors used to have good views before they built two stories on top of the Gair 2 building. Lower floors on the river side of the building have ridiculous decks that but up agains the Gair 2. Not really a building for outdoor spaces as it is too loud and dirty under the Manhattan Bridge.

  • I lived in the building for three years. The soundproofing is amazing. I live at 1 Main now and miss the silence (at 133, you literally don’t hear anything from the bridge — maybe at times a bit of a very soft rumble). You do, however, hear your neighbors from the inside. Not too bad, but not nearly as good as the building that I’m currently in. I also agree with the smells coming from other apartments, but this happens in any building. I kind of liked the place overall. The gym is fine, the roof is okay but very loud, the doorman is part time. I agree that it lacks the finish of some of the other “luxury” buildings in the neighborhood. Upper floors used to have good views before they built two stories on top of the Gair 2 building. Lower floors on the river side of the building have ridiculous decks that but up agains the Gair 2. Not really a building for outdoor spaces as it is too loud and dirty under the Manhattan Bridge.

  • Best soundproofing is at 85 adams.
    Don’t hear anything from the outside, and don’t hear anything from your neighbors as well.

  • Best soundproofing is at 85 adams.
    Don’t hear anything from the outside, and don’t hear anything from your neighbors as well.

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