Ritz Carlton penthouse to be auctioned off in Hong Kong

Battery Park City duplex is currently listed for $14.5M

TRD New York /
Jun.June 08, 2017 09:10 AM

A penthouse atop the Ritz Carlton in Battery Park City is heading to the auction block — in Hong Kong.

The duplex, which has been on the market for years, will be offered by Concierge Auctions.

“This will accelerate the sales process and condense it to a 30 day period, with much wider exposure across the globe,” listing broker Herbert Chou of Warburg Realty Told The Wall Street Journal.

The pad has been on the market since 2014 with four different brokers. The initial asking price of $23 million has been chopped several times to the current price of $14.495 million.

The owners — financier Randall Yanker and his wife, food stylist Murray Yanker — paid $4.78 million for the apartment in 2005, public records show. The current asking price works out to $3,376 per square foot.

The condo spans 4,293 square feet and has a 50-foot terrace with a glass-enclosed living room space with views of the Statue of Liberty. It has four bedrooms and five bathrooms and floor-to-ceiling windows on three sides.

The online auction will take place June 28 with no minimum or reserve price. Chinese and non-Chinese buyers will be able to bid through a mobile app.

The condo is one of 18 properties that Concierge Auctions is auctioning in China, and Chou expects robust interest from Asian buyers who like waterfront properties. “They like the tranquility and safety of Battery Park City,” he said. “There have been offers on it, but they never came to fruition.” [WSJ]E.B. Solomont


Related Articles

arrow_forward_ios
Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest

LeBron wanted it and California’s governor signed it. What the college athlete compensation law means to real estate

Racial inequality in homeownership across US is sharpest in New York: report

arrow_forward_ios