The Real Deal New York

Ian Schrager buying from his own supply at 160 Leroy

Developer and legendary Studio 54 co-owner taking $15M unit

January 15, 2016 11:34AM

160 Leroy Ian Schrager

Rendering of 160 Leroy Street in the West Village (inset: Ian Schrager)

Ian Schrager’s 160 Leroy Street condo project in the West Village – notable for its unique, curved design – is apparently to the hotelier, developer and legendary Studio 54 proprietor’s liking, because Schrager is taking his very own 12th-floor unit at the property for around $15 million.

It’s not an unprecedented investment for Schrager, who currently resides in the penthouse at his 40 Bond Street condo building in Noho – also designed by 160 Leroy Street architects Herzog & de Meuron. But the developer plans on downsizing, now that the last two of his four children and stepchildren are off to college.

Schrager recently confirmed that the five-bedroom, 12,200-square-foot penthouse at 160 Leroy hopes to fetch between $75 million and $80 million. The penthouse, which comes with three kitchens, private elevator and its own private rooftop pool, is already receiving “serious interest,” Schrager told the New York Post.

Apartments at the 50-unit building will start at $2.4 million, the Wall Street Journal reported this week. While sales are set to launch next week, they already started quietly this past fall and the building is already about half sold out. [NYP]Rey Mashayekhi