After price chop, Walker Tower pad now asking $6,500 psf

Penthouse 5 is on the market for $22M
February 15, 2016 04:22PM

The anonymous buyer of a penthouse at the Walker Tower who paid $14.25 million for the pad in January 2014 is relisting it for $22 million, or just under $6,500 per square foot.

Penthouse 5 at the JDS Development Group and Property Markets Group project spans just under 3,400 square feet and features three bedrooms, 4.5 bathrooms and a wood-burning fireplace. It first hit the resale market in August 2014 asking $25 million, or about $7,350 a foot.

The Corcoran Group’s Leighton Candler and Alatia Bach have the listing. The Walker Tower, located at 212 West 18th Street, holds the record for Downtown’s priciest sale, at $51 million, or over $8,500 a foot. That buyer, Hakkasan CEO Neil Moffitt, put the pad back on the market last May asking a whopping $70 million, or $11,800 a foot.

The price slash at Penthouse 5 follows a flurry of similar moves in the luxury condominium market, which is showing signs of softening. Amid concerns of a supply glut, lenders have become more hesitant to finance new high-end developments, and some developers are putting plans on ice.

[Curbed]Dusica Sue Malesevic and Hiten Samtani