The Real Deal New York

56 Leonard developer lists Grand Beekman penthouse

Simon Elias wants $10M for Midtown East pad
By Katherine Clarke | June 04, 2013 09:30AM

Alexico Group co-head Simon Elias, one of the developers behind the much-hyped condominium tower going up at 56 Leonard Street in Tribeca, is selling his own home at Grand Beekman at 400 East 51st Street, another building developed by Alexico.

The 3,688-square-foot, five-bedroom penthouse came on the market Saturday for $10 million, or $2,711 per square foot, StreetEasy shows. It is being marketed by Leighton Candler and Gilda Shani of the Corcoran Group.

Neither Elias nor the brokers immediately responded to requests for comment.

The property, dubbed by “crown jewel” of the First Avenue building by its brokers, has 11-foot ceilings, bamboo floors, a wood-burning fireplace and a terrace leading from the master suite, according to the listing. At the 89-unit building, residents have access to a concierge, a health club and a playroom. The property has a 421a tax abatement, which expires in 2015.

Alexico completed construction of the Costas Kondylis-designed, 32-story property in 2003; Elias and wife Jacqueline purchased the penthouse and a storage unit for $4.85 million in 2005, records show. In 2009, the couple transferred their interests in the apartment into personal trusts. It was not clear why they are selling the property.

Besides 56 Leonard, which Elias is developing with partner Izak Senbahar, real estate development group Hines, Goldman Sachs and Dune Real Estate Partners, Alexico is behind such high-profile condominium projects as 165 Charles Street, the Laurel on East 67th Street and the conversion of the Mark Hotel.