New York Film Academy founder reels in Ritz-Carlton pad

New York /
Feb.February 10, 2014 02:00 PM

Jerry Sherlock, the founder of the New York Film Academy, picked up a condominium at the Residences at the Ritz-Carlton in Battery Park City for $7.55 million, The Real Deal has learned.The three-bedroom, 3,730-square-foot unit was listed with Douglas Elliman in March 2013 for $7.95 million. The price was dropped to $7.45 million three months later.

Broker Gilad Azaria said the condo first entered contract in October 2012, but failed to close after Hurricane Sandy pummeled Lower Manhattan.

“People were afraid of buying there because it is a part of the flood zone,” Azaria, who represented both the buyer and the seller, told The Real Deal.

The 38-story, 114-unit building, built in 2001, is located at 10 West Street, adjacent to the hotel at 2 West Street. The unit, 32AG, can be converted into a four-bedroom and features 9-foot-high ceilings and three marble bathrooms.

The seller, an out-of-state investor and doctor, declined to comment. The sale closed Friday.

Sherlock, who could not be reached for comment, produced “The Hunt for Red October” in 1990 and formed the New York Film Academy School of Film and Acting in 1992. Last June, the film and acting school relocated to 17 Battery Park South from 100 East 17th Street, grabbing 73,320 square feet for 15 years.

In October, a 7,500-square-foot penthouse at the Ritz-Carlton hit the market asking $56.5 million, looking to set a record price for a condo in Downtown, as previously reported. It failed to woo buyers at that price, however, and the listing was taken down within a week.


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
WATCH: Top luxury brokers go head to head at TRD’s Miami event
WATCH: Top luxury brokers go head to head at TRD’s Miami event
Bienvenidos a Miami: Here’s a glimpse inside the new Douglas Elliman
Bienvenidos a Miami: Here’s a glimpse inside the new Douglas Elliman
Bienvenidos a Miami: Here’s a glimpse inside the new Douglas Elliman
Soho penthouse flipped for $49M is top Downtown deal this year
Soho penthouse flipped for $49M is top Downtown deal this year
Soho penthouse flipped for $49M is top Downtown deal this year
Manhattan rents recover to pre-pandemic levels as new leases slow
Manhattan rents recover to pre-pandemic levels as new leases slow
Manhattan rents recover to pre-pandemic levels as new leases slow
Vector CEO Howard Lorber and Elliman CEO Scott Durkin (Getty)
Douglas Elliman to go public in spinoff from Vector Group
Douglas Elliman to go public in spinoff from Vector Group
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...