The Real Deal New York

Which listings will land nine-digit prices in 2014?

December 23, 2013 04:25PM

From left:

From left: 151 East 58th Street, Copper Beech Farm in Greenwich and 435 East 52nd Street

Greater New York City’s priciest single-family properties — the Copper Beech Farm in Greenwich, Conn., hedge funder Steve Cohen’s duplex at One Beacon Court, and the Residence at River House — all have nine-digit price tags. But which will actually fetch their $100 million-plus asks?

The country has no shortage of glittering trophy properties priced at $100 million or more, but it’s rare for such listings to actually close at those lofty numbers. Miami’s Versace mansion, on the market for $125 million, ultimately sold at auction this year for $41.5 million, and the $150 million Candy Spelling Estate in Bel-Air ultimately went for $85 million.

Brokers say that Copper Beech’s biggest chance to fetch a closing price around its current $140 million ask, down from $190 million previously, lies with its potential for development, as the house isn’t particularly amazing, they told CNBC. Cohen’s duplex at 151 East 58th Street, which sprawls across 9,000 square feet and boasts double-height windows with city views, is priced at $115 million and a more likely contender to land a nine-digit close. And the River House penthouse at 435 East 52nd Street, which needs a big investment to transform to a private residence, has a chance to fetch its $130 million ask among deep-pocketed foreign buyers, sources told CNBC. [CNBC]Julie Strickland

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