One57 unit sells at 20 percent discount

64th-floor pad closes at nearly $25M, roughly $6M under asking price

TRD New York /
Dec.December 09, 2014 12:27 PM

The latest recorded sale at Extell Development’s sluggish One57 closed at a 20 percent discount to its asking price, property records show.

Unit 64A – at 4,483 square feet, three bedrooms and four baths – sold earlier this month for $24.84 million, property records filed with the city today show. That’s a steep discount off the unit’s $31 million asking price listed on Douglas Elliman’s website.

The apartment, purchased under power of attorney by GMF 157 LP, went into contract in October 2011 and closed Dec. 1 of this year.

Sales at the supertall tower have been slow, with just one unit closing in the third quarter of this year. At that pace, it would take more than six years to sell out the remaining units.

There has, however, been a flurry of closings as of late, with the most recent being the $55 million sale of a full-floor apartment on the 81st floor to the former owner of the San Diego Padres, as previously reported.

Related Articles


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

Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax

Unrealistic pricing bogs down Miami luxury condo market: TRD Showcase & Forum

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman

The Real Deal’s E.B. Solomont receives Front Page Award

Rents increased year over year this September in Manhattan and Brooklyn to $4,336 and $3,366

Rents tick up and concessions fall amid broader economic uncertainty

The number of closed sales fell by more than 14 percent year over year in the third quarter (Credit: iStock)

Low mortgage rates are killing Manhattan’s all-cash buyer