The Real Deal New York

One57 penthouse sells for more than $90M, breaks price record

May 18, 2012 08:30AM

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Extell Development President Gary Barnett and a rendering of the One57 penthouse

Gary Barnett has set a new record for a New York apartment sales price with the deal for a penthouse apartment at his One57. According to the New York Times, an undisclosed but recognizable buyer has signed a contract, worth between $90 million and $100 million, for the 10,923-square-foot penthouse on the 89th and 90th floors of the forthcoming building.

The price breaks the record set earlier this year when Dmitri Rybolovlev paid $88 million for a penthouse at 15 Central Park West, but still pales in comparison to the more than $13,000 he paid per square-foot.

The buyer agreed to the purchase more than three months ago, before the “bargain” asking price was raised to $115 million from $98.5 million. Barnett said he nearly broke the $100 million barrier with a buyer who was looking at combining the 13,000-square-foot “Winter Garden” duplex unit with another full-floor for a price between $100 million and $150 million. But that deal fell through.

Barnett said half of the building’s 92 units are spoken for, while the New York Post reported that design flaws have scared away some buyers. Among their concerns is a lack of elevators, which would be problematic for upper floor buyers. [NYT] and [Post]

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    Howard bought it

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