How the mighty have fallen. Park Slope's Tracy Mansion, most recently home to a Montessori school, was the most expensive single-family listing in Brooklyn when it bounded onto the market in 2012 asking $25 million. After a $7 million PriceChop (which still left it among the priciest properties in the borough), the palatial home finally found a buyer in March of this yearfor a piddly $9.5 million.
But because condo conversions are
all the rage where the money-making's at right now, with properties from offices to churches to rentals all falling prey, that's what the new buyer is doing. The Real Deal first reported the plans.
Building permit filings show that developer Ray Zagami wants to convert the 23-room palace into seven residential units. Leonard Colchamiro Architects is listed on the application, and their work doesn't stink, so let's see.
Park Slope parcels come at a premium these days, so developers are turning all sorts of properties, from rentals to a beloved theater to a bathhouse-turned-arts and events space, into condos. Let the trend roll on.
· Tracy Mansion, once Brooklyn's priciest single-family listing, set for conversion [TRD]
· Park Slope Mansion Sells for a Seriously Discounted $9.5M [Curbed]
· Brooklyn's Most Expensive Mansion Now $7 Million Cheaper [Curbed]
· Slope School Mansion Seeks Brooklyn's Highest Price, $25M [Curbed]
· Here Now, the 15 Most Expensive Homes for Sale in Brooklyn [Curbed]
· All Tracy Mansion coverage [Curbed]