The Real Deal New York

Pershing Square’s Bill Ackman revealed as buyer of $90M-plus One57 condo

May 17, 2013 10:00AM

A partnership of Pershing Square Capital’s William Ackman and a group of real estate investors is in contract to buy a penthouse at Gary Barnett’s One57 condominium for north of $90 million, the Wall Street Journal reported.

The deal, if it were to close at the price, would be the largest for a Manhattan residence, eclipsing even Dmitry Rybolovlev’s $88 million purchase of Sanford Weill’s 15 Central Park West penthouse last year, as The Real Deal and others reported.

Ackman does not plan to move in to the penthouse, sources told the Journal, and will treat it as an investment. The deal will close next spring.

The 13,554-square-foot duplex condo on the 75th and 76th floors has a two-story-high, 51-foot-wide glass enclosed “winter garden” with a curved glass roof. Extell Development, which is building the condo tower, would neither confirm nor deny to the Journal that Ackman was the buyer.

Another unit at One57, a 11,000-square-foot penthouse duplex on the 89th and 90th floors, is also in contract for $90-plus million. [WSJ]  – Hiten Samtani