Buyer pays $56M for 12K sf spread at 56 Leonard

South Shore Investments combined two PH units

TRD New York /
Jan.January 27, 2017 01:05 PM

56 Leonard Street in Tribeca and Alexico’s Izak Senbahar (Credit: 56 Leonard and Getty Images)

A mystery buyer has shelled out more than $56 million to combine two penthouse units at 56 Leonard, Alexico Group’s glass-stacked condominium tower in Tribeca.

Together, the full-floor condos on the 53rd and 54th floors measure a whopping 11,892 square feet with multiple terraces and balconies totaling 3,300 square feet.

The buyer — identified in property records as South Shore Investments LLC — went into contract on both units in June 2013 and paid a total of $55.6 million for the massive spread.

The corporation ponied up $23.98 million, or $4,366 per square foot, for Penthouse 54, which was asking $26.5 million. The 5,492-square-foot unit is currently configured with four bedrooms, a conservatory and library, plus two terraces and two balconies spanning 1,600 square feet.

Penthouse 53 — the larger of the two units with 6,400 square feet and 1,700 square feet of outdoor space — sold for $29.1 million, or $4,543 per square foot, property records show. It was asking $28.5 million.

Buyers at the 145-unit condominium began closing on their units last year, more than three years after sales launched at the Jenga-like tower.

Only one sponsor units is left, a half-floor penthouse asking $17.8 million, or $4,785 per square foot.

Alexico TRData LogoTINY, led by Izak Senbahar, paid $136.5 million for the site and began construction on the 60-story Herzog & de Meuron-designed tower in 2007 only to stall during the financial crisis. The developer brought on Hines as a partner in 2013. Sales launched in March of that year.

Corcoran Sunshine Marketing Group handled sales.


Related Articles

arrow_forward_ios
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

From left: Colgate chairman Ian Cook and 1115 Fifth Avenue and 912 Fifth Avenue (Credit: Cuny, StreetEasy)

He sold enough toothpaste to buy this tony Carnegie Hill pad

Larry Silverstein (Credit: Getty Images, iStock)

Silverstein’s lending biz could get a boost from the weak luxury condo market

Vornado’s Steve Roth and 220 Central Park South (Credit: Getty Images)

Another villa unit at 220 Central Park South sells for $47M

220 Central Park South and Vornado chairman Steven Roth (Credit: Google Maps and Getty Images)

Another $60M condo closes at 220 Central Park South

255 West 11th Street with Liv Tyler and 49 East 67th Street  with Thomas and Ann Unterberg (Credit: Getty Images and Google Maps)

Here’s what sold in NYC’s luxury home market last week

110 Central Park South and Aleksandra Melnichenko (Credit: Google Maps and Getty Images)

Who’s buying what? Here are our top luxe resi sales

Lee Radziwill and her home at 160 East 72nd Street (Credit: Getty Images, Brown Harris Stevens)

Longtime home of Lee Radziwill, sister to Jackie O., sells for $4M

arrow_forward_ios