The Real Deal New York

Witkoff adds $35M penthouse at 10 Madison Square West

Developer combines two apartments to create full-floor, 6,500-square-foot pad
By Hiten Samtani | May 01, 2014 09:22AM

Why settle for just one ostentatious penthouse when, with a little creativity, you could easily have another? Steven Witkoff’s 10 Madison Square West is combining two apartments to create a full-floor apartment on the 22nd floor, which will hit the market today asking $35 million.

The 6,515-square-foot pad has five bedrooms and 6.5 bathrooms, and boasts more than 1,000 square feet of outdoor space on two terraces. The floor plan reveals a nearly 1,400-square-foot master suite with separate his and her dressing rooms, while the kitchen sports a wine closet and a butler’s pantry.

Witkoff’s decision to create another penthouse likely stems from the success of the $36.5 million duplex penthouse right above this one, which went into contract almost immediately after it was announced in July.

Douglas Elliman Development Marketing, headed by Susan de França, is handling sales at the 125-unit condominium building. The project is about 95 percent sold, de França said, with only six units remaining up for grabs.

The developer paid $191 million in 2011 at auction for the then-distressed 16-story property, formerly a marketplace for the toy industry. He converted it into a condo building and added six stories to the top.

The building has just topped out, a spokesperson for the project said, and closings will begin early next year. Witkoff is also working on several other high-profile projects in the city, including the Park Lane Hotel on Central Park South and a ground-up 39-story retail and hotel project at 701 Seventh Avenue.