The Real Deal New York

Woolworth Building penthouse hits market for record $110M

"Castle in the sky" will take up top nine stories of city landmark
June 02, 2014 10:25AM

The penthouse in the Woolworth building hit the market for a whopping $110 million, Bloomberg News is reporting.

The $110 million price tag for the apartment at the top of the 58-story tower is the highest ask ever for an apartment in downtown Manhattan. 

“The price is more reflective of the unique historical nature of the property” than its location or the heated luxury market, Jonathan Miller, president of appraiser Miller Samuel Inc. told Bloomberg. “We’ve seen rapid absorption downtown, but this project is unlike anything that’s come online.”

Sales are expected to begin at the iconic building this fall with a move in date of 2016. The Woolworth Tower was designated a historical landmark in 1966. Developer Alchemy Properties has called the penthouse a “castle in the sky.”

The upper floors at the tower, which is located at 233 Broadway, will house 34 luxury apartments. Plans describe “spacious, super high end homes” for the tower built in 1913. At the time of its opening, the Woolworth building — as 792 feet — was the world’s tallest office.

Prices for the condos will start at $3.5 million for a 1,209-square-foot unit on the 44th floor, according to Bloomberg. The proposed offering plan is currently under review by the attorney general’s office.

The record-setting penthouse is roughly 8,975 square feet and includes a 584-square foot terrace.  The four-bedroom condo, which is slated to span the top nine floors, will include a wine cellar, a library and a media room on top of the regular living space on the 50th and 51st floors. [Bloomberg]  Claire Moses