02/10/2015 04:29 EST | Updated 02/10/2015 04:59 EST

Brooklyn Townhouse Is The Area's Most Expensive Listing Of All Time

Its listing calls it a townhouse, but it's more of a mansion, fit for the one per cent of the one per cent.

At US$40 million, a 16-bedroom townhouse located at 3 Pierrepoint Place in Brooklyn Heights, N.Y., is the borough's most expensive listing of all time, reports The Wall Street Journal.

broolyn townhouse

The 17,354-square-foot, four-floor building, also known as the Low Mansion, was constructed in 1856-57 and it's been subdivided into eight apartments, the newspaper said.

Owner Jeff Keil, a former banker, bought the place for $2.3 million in 1991 and is now offloading it because he and his wife are spending more of their time in Florida.

Check out photos of 3 Pierrepoint Place in Brooklyn Heights:

Photo galleryThe Most Expensive Brooklyn Townhouse Ever Listed See Gallery

The listing calls the townhouse a "brilliant and tangible testament to the unparalleled and perhaps forever lost craftsmanship of its age."

Features available in the building include a garden, roof deck and a spectacular, panoramic view of New York's downtown.

brooklyn townhouse

The property certainly has plenty to attract interested buyers. Whether it sells at that price is another question entirely.

Business Insider noted that a separate home, located in Brooklyn's Mill Basin neighbourhood, had its listing price slashed from $30 million to $17 million last year when no one picked it up.

We'll see how long this one lasts at its current price point.

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