It’s not often a flip yields a $4,655,000 profit in just four years, but that’s exactly what happened at the 10th-floor loft at 17 West 17th Street. The full-floor Flatiron apartment sold in 2010 for $3,095,000, but was a massive, raw studio at the time with only one bathroom and no formal kitchen. It’s now a true four-bedroom space with three additional bathrooms and a clear definition of rooms. The intensive renovation paid off, netting previous owner Peter Vogelsang, a lawyer with the Alberleen Group, an impressive $7.6 million, according to recent city records.
Located on the 10th floor of an 11-story, 1915 industrial building, this 4,600-square-foot loft features 11-foot ceilings with oversized tilt-turn windows that showcase northern, southern, and western views. The 82-foot-long living/dining/kitchen area offers plenty of space for entertaining.
The centrally located Valcucine kitchen has book-matched Calacatta marble countertops with Subzero and Miele appliances. Throughout the home are hand-planed, solid walnut floors.
The bedrooms are separated from the main living space and are just as spacious as the rest of the home. In the master suite, a wooden divider acts as a secondary headboard and a book shelf on the reverse side. It also divides the sleeping area from the adjacent office.
Other enviable features in the loft include a private keyed elevator, 18-foot storage and utility room with vented Miele washer and dryer, radiant floor heating, Lutron lighting control, five-zone heating and air conditioning, and glass-tiled bathrooms. That steep profit is making sense now, huh?
Photos courtesy of Douglas Elliman
Neighborhoods : Flatiron