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Builder Taking a Loss on His Schaefer Landing Penthouse

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Ribbing new Schaefer Landing listings has long been one of our favorite pastimes, so even if the market is improving, why stop now? The South Williamsburg waterfront luxury condo complex has a new apartment on the market, a whopper of a penthouse known as #PH3B. This one last sold for $1.875 million in 2006, so what's the ask going to be after four years? Uh, $1.65 million, which would make it the development's latest money loser. Interestingly, records show the penthouse is owned by one of the complex's builders, BFC Partners' Don Capoccia. Maybe he'd rather move on to his new baby, Toren, or maybe he's just lonely. Either way, we're digging some of the unit's added features, especially that rooftop swimming pool. Is there a better view in Williamsburg?
· Listing: 440 Kent Avenue PH3B [Great Jones Realty]
· 440 Kent Avenue #PH3B [StreetEasy]
· Schaefer Landing coverage [Curbed]

Schaefer Landing

440 Kent Avenue, Brooklyn, NY