Buyer inks $12M contract for Trump Place penthouse day before election

22 luxury units in Manhattan went into contract last week: Olshan

New York /
Nov.November 14, 2016 10:50 AM

A penthouse in a building bearing the next commander-in-chief’s name went into contract the day before the election for $12 million, according to Olshan Realty’s weekly luxury report.

The unidentified buyer inked a $12.1 million deal for Penthouse A at 220 Riverside Boulevard, which was the second-priciest contract signed last week.

The contract price is a discount to the $13.95 million ask when it first hit the market in August. There is also speculation that Trump properties may gain in value now that he’s on his way to the White House.

In September, StreetEasy found that that the price index for 16 Trump-brand buildings rose 5.2 percent over the past year to $1.674 million.

And Trump’s childhood home in Jamaica Estates may now be worth many times the $1.2 million price the owners had been been asking prior to the election. They pulled it off the market in a gamble on the outsider candidate’s chance of winning the contest.

In all, 22 contracts were signed in Manhattan last week above $4 million. The top spot went to a Plaza Hotel condo owned by fertilizer tycoon Bolat Nazarbayev, who is brother to the Kazakhstan President Nursultan Nazarbayev.

The 4,064-square-foot, four-bedroom unit 1801 went into contract at $17.9 million. Nazarbayev, who paid $20.2 million for the condo in 2008, had last put it on the market for $30 million in 2014 amid a dramatic divorce. [Olshan] — Rick Bockmann


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