Jan 18, 2011

Is This One Beacon Court Condo $10 Million Better Than it Was in 2005?

Real estate is, at its heart, a numbers game, so please enjoy this batch of digits pertaining to the complete sales history of One Beacon Court #34B, a 4BR/3.5BA condo in the esteemed "Bloomberg Building" measuring in at just over 3,000 square feet:
03/18/2005: Previous Sale recorded for $6,618,625.
03/22/2007: Previous Sale recorded for $10,995,000.
01/13/2011: Listed by Prudential Elliman at $16,500,000.
Yep, the current owner wants just about $10 million more than what the apartment sold for less than six years ago. But as wild as the numbers are, they only tell part of this story.

One Beacon Court has seen a constant stream of notable names pass through its halls (Beyonce, Johnny Damon, Flavio Briatore), but one that left under sour circumstances was fraudster attorney Marc Dreier. Dreier's condo happened to be #34C, right next door to this $16.5 million whopper, and the feds auctioned it off in the summer of '09 for $8.2 million. Is the neighboring pad now worth twice as much?
Dreier's ex-apartment has different views, a different layout and a slightly smaller terrace. This one boasts "Incredible Central Park views from every room!" and a "flawless renovation by interior designer and architect with state of the art lighting, motorized shades, and built in speakers." And though the asking price may be bold, it's not One Beacon's most expensive current listing. That honor goes to the $17.5 million #46D upstairs, which is smaller than #34B and doesn't have any private outdoor space. Hey, so maybe $16.5 million is a bargain? Here's the floorplan for #34B:

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