A founder of Studio 54—Ian Schrager—has picked up a loft apartment in Brooklyn. Schrager, who is now a real estate developer, purchased the three bedroom, 2.5 bath condo in Vinegar Hill for $4.3 million; the property had been listed prior to the sale at $4.4 million.
The six-story building dates to the turn of the 20th century, and was an ironworks before being repurposed as residential in 2002. Records indicate that the unit last sold in 2008, for $2.6 million.
The apartment’s interior is distinguished by 13’ high ceilings, exposed brick, and exposed raw wood beams and support pillars. All the wood and brick combines and, with the 10’ windows, give the loft the bright warmth of a classic loft space. Plank ceilings and some exposed plumbing enhance the post-industrial appeal. It’s a well-defined and stylized look, but it never really seems to go out of fashion.
The floors of the condo are reclaimed, wide-plank oak, giving the home a substantial-looking design foundation. Lighting and fixtures are generally period-sensitive, although some recessed LED fixtures sneak discreetly into the composition.
Top-quality appliances grace the kitchen, which is finished with teak cabinetry; it features a wine-storage nook and two eat-in bars. The bedrooms all feature southern exposures, and the master incorporates his-and-hers closets, as well as a renovated master bathroom with a rain shower. There are three bedrooms and 2.5 baths across the unit’s 2,600 square feet.
Schrager co-founded both Studio 54 and the Palladium nightclub in the late 1970’s. Since 2005, he has helmed his own development and management firm, the Ian Schrager Company.
