Ian Schrager drops $4M on Dumbo loft near his new hotel

Real estate developer and former Studio 54 co-owner Ian Schrager has just dropped $4.3 million on a condo unit at 31 Washington Street in Dumbo, per city records.

The unit is only a seven minute walk from Schrager’s new Public Hotel, which is being developed at the Jehovah’s Witness Watchtower complex near the waterfront. Schrager did not immediately respond to request for comment about why he purchased the unit. According to the record, Schrager bought the condo with his brother, Bernard, who appears to be a cardiologist in Miami. The seller is Laura Frerer-Schmidt, the publisher of Women’s Health magazine and her husband, Brian.

The listing, with Ryan Serhant and Charisse White of Nest Seeker’s International, notes that the sprawling loft has three bedrooms and two and a half bathrooms across 2,600 square feet. There are also 13-foot ceilings, wide oak floors, exposed brick walls, and enormous windows. Serhant and White did not respond to request for comment.