The Real Deal New York

Developers really sweetening the pot to sell high-end condos

Yachts, Rolls Royce Phantoms are part of the deal for pricey pads
February 26, 2016 10:05AM


Penthouse at Atelier at 635 West 42 Street (Credit: River 2 River Realty)

Yachts, Rolls Royce Phantoms, private indoor soccer fields, oh my! With the luxury real estate market softening, the perk one-upmanship has reached a new level.

First up is the 10-bedroom, 10,000-square-foot, penthouse condominium at the Atelier tower at 635 West 42nd Street, which was developed by the Moinian Group. Thrown into the deal is a $1 million dollar yacht, two Rolls Royce Phantoms and $2 million in credits to renovate the unit. Amenities at the skinny skyscraper include an ice skating rink, large lap pool, golf-driving range and complimentary breakfast in the morning.

For $85 million, the penthouse, which takes up the 45th floor, is the currently the most expensive on the market, according to the Wall Street Journal.

No story about pricey pads would be complete without Extell Development’s One57. Last month, it was reported the developer spent at least $1 million to furnish a $20.1 million apartment at the glitzy 94-unit tower. Its sales include the $91.5 million deal last year a group led by hedge fund mogul William Ackman for a duplex on the 75th and 76th floors.

A four-bedroom, 6,240-square-foot unit has 360-degree views that include Central Park, the Hudson and the Statue of Liberty. Asking price is $58.5 million.

Manhattan’s high-end condo market has seen a glut of new luxury developments as lenders are beginning to retreat from the market. [WSJ]Dusica Sue Malesevic