The Real Deal New York

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

42 of the building's 59 apartments have now been sold
April 10, 2015 12:00PM

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.