The Real Deal New York

Cary Tamarkin sells out High Line condo project after two years

Construction on 15-unit building completed earlier this year

August 28, 2015 11:41AM
By E.B. Solomont


From left: 508 West 24th (credit: Tamarkin Co.), a penthouse condo and Cary Tamarkin (inset)

Two years after launching sales, architect and developer Cary Tamarkin’s  boutique condominium project on the High Line is officially sold out.

Rising 10 stories, the building at 508 West 24th Street is comprised of 15 two-  and three-bedroom units, ranging from 2,000 square feet to more than 3,300 square feet. When sales launched in July 2013, prices started at $3 million, with the most expensive unit going for $12.5 million.

With 10- and 12-foot ceilings, oversized casement windows and five-inch white oak floors, the condos have Tamarkin’s signature industrial chic aesthetic and are accessible via key-locked private elevator.

Construction was completed earlier this year.

Stribling Marketing Associates was the exclusive sales and marketing team.

“Since the market collapsed in 2009 and 2010, people tend to want to see it, not just buy off of plans,” Tamarkin told TRD. “Our projects usually garner higher prices when you can see it, anyway.”

The Knicks’ Carmelo Anthony reportedly picked up an $11 million, full-floor condo in February.

According to StreetEasy, two penthouse units were the last to be sold in the building.

Penthouse A, with three bedrooms and more than 3,300 square feet, originally listed at $12.5 million and went into contract in July. The last asking price was $9.95 million, according to StreetEasy. Penthouse S, with three bedrooms and just over 3,000 square feet, originally listed for $10.5 million and sold for $8.5 million on August 10.

Tamarkin and partner the Carlyle Group purchased the site for $16 million in 2011.

Tamarkin is bullish on the area, and filed plans earlier this year to develop a 12-story condominium at 550 West 29th Street. The building will have 32 apartments and roughly 5,000 square feet of commercial space.

“I do like the area very much, I think it’s probably one of the most exciting, rapidly changing areas of the city,” Tamarkin said.