One down, one to go: 160 Leroy’s $31.5M penthouse finds buyer

17 contracts inked last week: Olshan

Jul.July 03, 2017 10:15 AM

The penthouse at160 Leroy Street and Ian Schrager (Credit: Getty Images)

One of two penthouses that originally comprised a massive spread atop Ian Schrager’s 160 Leroy Street has found a buyer.

The smaller of the two penthouse units, a 4,849-square-foot condo asking $31.5 million, was the priciest pad to go into contract last week, according to Olshan Realty’s weekly luxury market report. The unit has a 2,616-square-foot Rooftop Terrace that comes with an outdoor kitchen and hot tub.

For the week of June 26 to July 2, there were a total of 17 contracts signed on pads asking $4 million an up, the lowest tally since 2013. The total weekly asking price sales volume was $145.2 million. The average asking price was $8.5 million with an average of 438 days on market.

The penthouse at 160 Leroy originally spanned the entire floor, and had an asking price of $80 million. But it was split into two last year. “We thought it would be better for the marketplace; it’s what people were asking for,” Vector Group CEO Howard Lorber, an investor in the project, told The Real Deal at the time. Douglas Elliman’s Madeline Hult Elghanayan, Lauren Muss, Kirk Rundhaug and Dennis Mangone had the listing.

The remaining penthouse, spanning 7,750 square feet, is asking $48.5 million, according to StreetEasy.

The No. 2 contract was a duplex at Toll Brothers City Living’s 1110 Park Avenue, asking $17.995 million. The 5,702-square-foot unit has five bedrooms. The seller was former Avon CEO Andrea Jung, who purchased the unit last year for $17.6 million.  [Olshan] E.B. Solomont

Related Articles

Here are the week’s top luxury sales

Here are the week’s top luxury sales

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”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Linda Ellerbee and 17 St. Luke’s Place

Famed journalist and singer unload their New York City homes

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year