Penthouse at Aby Rosen’s 350 West Broadway finally sells for $17.5 million

Soho sponsor unit had lingered on market for four years
By Guelda Voien | January 15, 2013 05:18PM

The penthouse unit at Aby Rosen’s Soho condominium development, 350 West Broadway, has sold for $17.5 million, according to records filed with the city yesterday. The apartment debuted on the market in 2009 with an asking price of $26 million, but that was chopped to $20.65 million last April, previous reports show.

The 5,900-square-foot, three-bedroom, four-and-a-half bathroom penthouse offers 1,330 square feet of outdoor space and 360-degree views of Soho, according to the listing. And, as the New York Observer first pointed out, the outdoor space is “structurally enhanced for a future Jacuzzi or substantial art piece.”

The seven-unit building struggled post-Lehman, as many did. In 2010, Rosen ditched Stribling & Associates as the sales director in favor of Corcoran Sunshine Marketing Group, after Stribling failed to sell a single apartment. Rosen’s son was reportedly living at the building, which he was also using to store parts of his valuable art collection (including a Warhol), while units lingered on the market with asking prices well over $3,000 per square foot.

Last year, sales began to actually close, at closer to $2,300 per square foot, according to a report from Curbed at the time. A Corcoran Sunshine sales representative for the building said that the building has still not sold out, but declined to comment on the penthouse sale. Streeteasy.com shows five closed sales at the building, one of which is on the rental market asking $35,000 per month.

The buyer was Weston Capital Partners, a Newton, Mass.-based investment manager. A representative for the buyer was not immediately available for comment.