The Real Deal New York

Former Padres owner’s ex pays $55.5M at One57

Sale is Extell’s fourth to close in recent weeks

December 05, 2014 12:52PM
By E.B. Solomont

From left: Gary Barnett, a rendering of One57 and John and Rebecca Moores

From left: Gary Barnett (Credit: STUDIO SCRIVO), a rendering of One57 and John and Rebecca Moores

Rebecca Moores, the ex-wife of Texas millionaire and former San Diego Padres owner John Moores, closed on a full-floor condo at Extell Development’s One57, paying $55.5 million, according to property records.

Records show the buyer of Unit 81 was the Rebecca Ann Moores Family Trust. The unit went into contract on April 28 and closed November 18.

Measuring 6,240 square feet, the apartment has 580 square feet of outdoor space, as well as four bedrooms, five-and-a-half bathrooms and views to the North, South, East and West.

The sale doesn’t top the $90 million that billionaire hedge-funder Bill Ackman shelled out for One57’s 13,554-square-foot penthouse. Ackman is reportedly trying to flip the residence, located on the 75th and 76th floors.

But Unit 81 was the most expensive condo left, among those for sale in the building, where sales have slowed amid increased competition from projects like Zeckendorf Development’s 520 Park Avenue, Vornado Realty Trust’s 220 Central Park South and Macklowe Properties’ 432 Park.

Extell reportedly sold just one apartment at One57 in the third quarter and three units this year through September 30, according to Bloomberg.

But the previous few weeks have seen a flurry of activity, including the sale of a sponsor unit on the 80th floor for $53 million in November and two deals in October, when Michael Kors co-chairman Silas Chou paid $56.1 million for an 82nd floor pad and Extell sold another unit for $26 million.

  • john frank

    Simply bad investments. Resale value isn’t there and won’t be at such time when they go to resell. The market will be as so..

  • standa

    One of the more ugly buildings in america

MENU
Real Time Web Analytics