Walker Tower PH hits market for $42M

Owner combined two penthouses in 2014

TRD New York /
Feb.February 16, 2017 08:09 AM

How strong is the market for New York City penthouses? The owner of a Walker Tower aerie who wants $42 million for the pad is about to find out.

Spanning nearly 7,000 square feet, the four-bedroom penthouse is asking $6,000 per square foot. “All the finishes have been upgraded,” said listing agent Toni Haber TRData LogoTINY of Compass, who said the current owner combined two penthouses in 2014.

Haber didn’t comment on the buyer’s identity, but said they are looking to downsize since they won’t be spending as much time in New York.

The owner — listed in property records as 210 West 18th Street 2012, LLC — paid $31.3 million for the condominium at JDS Development Group and Property Market Group’s 212 West 18th Street, records show. The unit’s been on and off the market over the years, according to StreetEasy, most recently asking $39.995 million.

Luxury pads took a beating in 2016 — with an 18 percent drop in the number of contacts signed compared to 2015, according to Olshan Realty. For properties priced at $10 million and up, contracts dipped 5 percent year over year.

Despite those headwinds, Haber said there is a market for exceptional properties. She pointed to a string of recent penthouse deals that she said signal the trophy market is very much alive.

Last week, Starbucks CEO Howard Schultz closed on a $40 million penthouse at Greenwich Lane, where he paid $7,100 per square foot. At 10 Sullivan Street, a penthouse went for $25.45 million last month, and at 215 Chrystie Street, a penthouse sold for $23.5 million this fall. At Walker Tower, LA Fitness CEO Louis Welch sold his penthouse — one floor above Haber’s listing — for $45 million.

“There are still a handful of great trophy apartments selling, for sure,” she said.


Related Articles

arrow_forward_ios
(iStock)

Manhattan co-op sales prices saw 11% drop in Q2

Manhattan co-op sales prices saw 11% drop in Q2
(iStock)

Manhattan vacancy hits new peak; Brooklyn stable

Manhattan vacancy hits new peak; Brooklyn stable
200 Water Street and 31 Prospect Park West (Google Maps)

Brooklyn’s luxury deal totals rise for 3rd straight week

Brooklyn’s luxury deal totals rise for 3rd straight week
Metro areas with less affordable housing drive high-income buyers to eye homes in lower-income neighborhoods at disproportionate rates (iStock)

TRD Insights: Gentrification happening fastest in least affordable cities

TRD Insights: Gentrification happening fastest in least affordable cities
Gov. Andrew Cuomo has given the go-ahead to reopen schools for in-person learning statewide (Getty; iStock)

School’s back on. Will the NYC resi market follow suit?

School’s back on. Will the NYC resi market follow suit?
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...