Hotelier Ian Schrager snags a dreamy $4M Dumbo condo

You’ve gotta hand it to Ian Schrager: the man knows good real estate. LLNYC reports that the hotelier and real estate mogul recently picked up a condo on Dumbo’s Washington Street, and the place itself is a beaut.

The 2,600-square-foot loft is essentially a large, open space, with three bedrooms tucked off of a hallway that connects those rooms to the huge great room. It has a serene, industrial-meets-rustic look, along with modern upgrades (a better HVAC system, tricked-out kitchen, new bathrooms, you get the idea). The final price, per city records, was $4.26 million; Ryan Serhant of Nest Seekers handled the sale.

As LLNYC notes, the apartment—which was purchased by the Schrager Family Trust, which lists Ian and his brother Bernard as trustees—is close to the Dumbo site that could eventually be home to a new Public hotel. The brand, launched in 2011 with the Public Chicago (which Schrager eventually sold), recently opened a much-lauded new hotel in 215 Chrystie, the Herzog & de Meuron-designed tower on the Lower East Side.

The proposed Dumbo hotel would be located in the Dumbo Heights tech hub, developed by Kushner Companies, LIVWRK, and RFR. There hasn’t been much news on the hotel front in some time, though; we’ve reached out to a spokesperson for the tech hub about that.

• Ian Schrager drops $4M on Dumbo loft near his new hotel [LLNYC]