Related says 70 Vestry penthouse will set Downtown record

The developer won’t give the exact price, but said the sale will set a Downtown record

New York /
Jul.July 27, 2017 11:30 AM

Related Companies entered contract to sell its penthouse at 70 Vestry asking $65 million, in a deal the company said will set a sales record for downtown Manhattan.

Both of the penthouses at the building now have contracts out, with a mystery buyer scooping up the $50 million triplex there in January.

The $65 million, five-bedroom apartment will span 7,800 square feet across the top two floors of the building, the Wall Street Journal reported. It features a 2,000-square-foot roof deck, and including terraces, the apartment’s outdoor space totals 3,700 square feet, according to the Journal.

Related would not say the exact price of the unit, but claims the sale will set a new record for Downtown Manhattan sales. The $50.9 million sale of the penthouse at the JDS Development Group and Property Markets Group-developed Walker Tower holds the current record for the area. More than 80 percent of the 46 units at 70 Vestry have now been sold, Related’s Benjamin Joseph told the newspaper.

Last year, NFL star Tom Brady and his supermodel wife Gisele Bundchen reportedly signed a contract for an apartment in the building asking more than $20 million.

Designed by Robert A.M. Stern, 70 Vestry is clad in French limestone and features yoga facilities, a pool, gym and squash court.

In Manhattan’s luxury market last quarter, inventory dropped by 11 percent, with resale inventory in that sector falling by nearly 23 percent, according to the quarterly report from Douglas Elliman.  [WSJ]Miriam Hall


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways
Joan Collins and 110 East 57th Street #8EFG (Getty, BHS)

Soap star Joan Collins lists longtime Midtown pied-à-terre

Soap star Joan Collins lists longtime Midtown pied-à-terre
Tommy Hilfiger and his recently sold estate in Greenwich, CT. (Getty, Janet Milligan)

Tommy Hilfiger’s Greenwich estate sells for $45M

Tommy Hilfiger’s Greenwich estate sells for $45M
Jenna Ryan was part of a group who flew on a private plane from Denton, TX, to Washington, D.C., with the intention of joining the protestors (Twitter.com/DotJenna)

Texas Realtor faces criminal charges for role in Capitol attack

Texas Realtor faces criminal charges for role in Capitol attack
Porch CEO Matt Ehrlichman (iStock)

Porch snaps up four startups for over $122M

Porch snaps up four startups for over $122M
Nir Meir Asks Court to Stop Eviction (Google Maps)

Nir Meir seeks to throw out Hamptons ejection suit

Nir Meir seeks to throw out Hamptons ejection suit
Robert Frank with 1021 Park Avenue and Ben Lambert with 28 Laight Street (Getty, Google Maps)

Who’s buying and selling Manhattan homes? Last month’s notable deals

Who’s buying and selling Manhattan homes? Last month’s notable deals
New Yorkers signed leases in record numbers last month. (Getty)

Manhattan, Brooklyn rental leasing hit 12-year high in December

Manhattan, Brooklyn rental leasing hit 12-year high in December
arrow_forward_ios

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

Loading...