The Real Deal New York

Second Sterling Mason penthouse in contract for $23M

Taconic Investment Partners to list 32-unit condo building’s third and final penthouse this week

July 21, 2014 02:05PM
By Julie Strickland

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Taconic Investment Partners unloaded the second of three penthouse units at their Sterling Mason condo development in Tribeca for the full asking price of $23 million, The Real Deal has learned. The developer is also bringing the property’s third and final Penthouse C to market with an asking price of $20 million later this week.

Dan McInerney, vice president of Taconic, declined to disclose the name of Penthouse B’s buyer, describing him or her only as a domestic buyer purchasing the unit for personal occupancy. The 5,620-square-foot duplex, located on the sixth and seventh floors of the seven-story building at 71 Laight Street, had been on the market since January. The pad boasts six bedrooms, five bathrooms, three powder rooms and one fireplace, as well as a private 2,625-square-foot wraparound terrace, library and media room. Reid Price and Bruce Ehrmann of Douglas Elliman Development Marketing handled the sale as the exclusive sales and marketing agents for the building.

Penthouse C, which measures 4,987 square feet and has a 1,065-square-foot terrace, features a forty-foot-long gallery-like living and dining room area with wall space geared towards an art connoisseur, a spokesperson for the developer told TRD. The home is also outfitted with oak flooring, French doors with metal shutters that overlook the courtyard, a kitchen with walnut cabinetry and a master bath with a free-standing soaking tub, separate stall shower, marble-slab walls and tile flooring. It is one of four units currently up for grabs in the 32-unit property. The three others are a three-, four- and five-bedroom, priced between $5.2 million, $8.25 million and $9.65 million, respectively. To date, 21 units at the Sterling Mason are either in contract or have a contract out, with some going into contract without formally coming to market, McInerney said.

The building’s first penthouse, dubbed Penthouse A, sold in October for $21 million, or $4,565 per square foot, as was reported at the time. The unit had been on the market since July.

The Sterling Mason is a condo conversion of a 1905 brick warehouse, which was once a storage facility for coffee and tea. It also features a new adjacent building with an aluminum façade. Morris Adjmi Architects oversaw the conversion.

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