Full-floor Setai Fifth Avenue penthouse hits the market at $27.5M

August 23, 2011 01:55PM

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From top left: Andrew Anderson and Gail Sankarsingh of Prudential Douglas Elliman And The Setai Fifth Avenue

A 59th-floor penthouse at the Setai Fifth Avenue, a new hotel and condominium project at 400 Fifth Avenue, hit the market today for $27.5 million, according to data from Streeteasy.com. The 6,883-square-foot unit, which is being marketed by Andrew Anderson and Gail Sankarsingh of Prudential Douglas Elliman, occupies the entire floor.

Sales opened in November, with the Elliman team, led by Karen Mansour, taking over the marketing of the 60-story skyscraper, located between 36th and 37th streets, from in-house manager Elida Jacobsen Justo in May. At a party announcing the switch, Elliman officials said the property is unlike any in the New York market and they expect it to drive tremendous demand from the brokerage community.

Elliman has already seen a lot of demand for the penthouse property, Sankarsingh said, though many prospective buyers are only interested in part of the floor.

“We’d prefer to sell the whole thing,” she said, “but splitting it up is an option.”

There are 73 closed condominium sales in the building so far, three units are in contract and there are 16 active listings, according to data from Streeteasy.com. — Katherine Clarke