Full-floor condo at the Baccarat sells for $20M

42 of the building's 59 apartments have now been sold

New York /
Apr.April 10, 2015 12:00 PM

UPDATED, 5:20 p.m., April 10: A 4,500-square-foot full-floor unit at Tribeca Associates and Starwood Capital Group’s Baccarat Hotel & Residences New York closed for $19.8 million.

The 43rd-floor apartment includes four bedrooms and 4.5 bathrooms, according to the Wall Street Journal.The apartment was listed in September 2013 and went into contract in November 2013, according to StreetEasy. The buyer of the sprawling pad at 20 West 53rd Street hasn’t been identified, the newspaper reported. The unit’s floor-to-ceiling windows offer views of the Museum of Modern Art’s sculpture garden, Central Park, the Empire State Building and One World Trade Center.

In February, Chinese insurer Sunshine Insurance Group agreed to buy the Baccarat Hotel from Barry Sternlicht’s Starwood for more than $230 million. The price comes down to a record-setting $2 million per room.

A second full-floor apartment in the building has entered contract and is expected to close soon, Tribeca Associates’ Mark Gordon told the newspaper.

Forty-two of the building’s 59 apartments have now been sold and the hotel adjacent to the condo project has opened. Buyer interest has increased over the past few weeks, Gordon also told the newspaper. The building’s duplex penthouse is listed for $60 million. [WSJ] — Claire Moses

Correction: A previous version of this story incorrectly stated how long the unit was on the market, due to an error in the source story. It was listed in September 2013 and went into contract in November 2013.  


Related Articles

arrow_forward_ios
Starwood's Barry Sternlicht with rendering of Field & Stream Lodge
Sternlicht’s Starwood plans outdoor-focused hotel chain
Sternlicht’s Starwood plans outdoor-focused hotel chain
From left: Starwood Capital’s Barry Sternlicht and Veracity Development’s Edmond Li along with 111 Mercer Street (Getty, Google Maps, Veracity Development)
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
Starwood's Barry Sternlicht
Starwood wheels and deals to fix $800M loan default
Starwood wheels and deals to fix $800M loan default
Starwood's Barry Sternlicht and Blackstone's Jonathan Gray
Private REITs forced into the spotlight
Private REITs forced into the spotlight
Blackstone’s Steve Schwarzman and Starwood Capital’s Barry Sternlicht (Illustration by The Real Deal with Getty)
Blackstone, Starwood REITs draw SEC’s attention after limiting withdrawals
Blackstone, Starwood REITs draw SEC’s attention after limiting withdrawals
Photo illustration of Blackstone's Jon Gray and Starwood's Barry Sternlicht (Blackstone/YouTube, Getty; Illustration by Kevin Rebong for The Real Deal)
Commercial property fund withdrawals surge
Commercial property fund withdrawals surge
From left: Federal Reserve chair's Jerome Powell and Starwood Capital Group's Barry Sternlicht (Getty)
Barry Sternlicht calls Fed’s actions “suicide”
Barry Sternlicht calls Fed’s actions “suicide”
Joel Schreiber, WeWork’s first investor, under fire on multiple fronts
Joel Schreiber, WeWork’s first investor, under fire on multiple fronts
Joel Schreiber, WeWork’s first investor, under fire on multiple fronts
arrow_forward_ios

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

Loading...