Clocking Out: 1 Main Street Pad Tries for $4.5 M. Flip

A curiously unfurnished moved-in apartment.
A curiously unfurnished moved-in apartment.

“Flip that money, make it do a handstand,” rapped Nicki Minaj in her 2009 mixtape. She was talking about flipping grams of cocaine, not real estate, but the George Simone Trust is hoping for similarly acrobatic feats at an apartment in Dumbo’s Clocktower Building that they’re trying to offload after less than a year of ownership.

The George Simone Trust (represented by trustee Frank Selvaggi, Sarah Jessica Parker’s business manager and lawyer) picked up the three-bedroom (plus home office), 3.5-bath apartment from Robert Pollock and Alan Freiman earlier in a transaction that closed in January for $4.1 million. Messrs. Pollock and Freiman had in turn bought the unit (along with another apartment that set a sales record for Brooklyn) for $3.17 million back in 2007.

And what does George Simone (or an investor who just liked the name George Simone) want for the apartment this time around? $4.5 million.

The apartment sits on the ninth floor at 1 Main Street, which Mr. Slosar told us is in some ways preferable to the higher-floor units, since you can see the water from even deep into the apartment. On the higher floors, he said, you have to edge up to the windows to get a glimpse of the glistening East River.

Listing broker Matthew Slosar (part of Richard Steinberg‘s team at Warburg Realty) told The Observer that the flip isn’t quite as premature as it may seem, saying that the contract was actually signed last July, but because of the sellers’ dilly-dallying, the closing didn’t happen until January of this year. Mr. Slosar assured us that the current owner moved did in fact move into the unit (the desire to sell is borne out of a “change in lifestyle”), but we couldn’t help but notice that the current listing photos show an unfurnished abode.

“The market’s changed a lot since last July,” Mr. Slosar said, confident that they’d do better than the previous closing price (he and Mr. Steinberg also brokered the last sale), when they asked $4.4 million but ended up settling for $300,000 less. Clocking Out: 1 Main Street Pad Tries for $4.5 M. Flip