Penthouse at Schrager’s 160 Leroy in contract after bidding war: report

Unit is the larger half of an $80M condo the developer split in two last year

TRD New York /
Oct.October 05, 2017 10:30 AM

Ian Schrager and 160 Leroy

The second half of the $80 million penthouse that Ian Schrager split into two at his 160 Leroy West Village condo building went into contract at $51 million after a bidding war.

The 7,750-square-foot, five-bedroom unit has a private elevator and a huge 5,140-square-foot terrace with a private pool and outdoor kitchen, according to the New York Post.

StreetEasy shows the unit’s asking price got a 5 percent bump last week from the $48.5 million figure it was listed at last year.

Schrager in early 2016 divided what would have been a 12,200-square-foot apartment into two units, as The Real Deal originally reported. The smaller of the two, a 4,849-square-foot condo, went into contract with an asking price of $31.5 million in June, according to StreetEasy.

That brings the combined price of the two units to a little more than 3 percent above the $80 million the original single unit had been asking.

Douglas Elliman’s Madeline Hult Elghanayan, Lauren Muss, Dennis Mangone and Kirk Rundhaug have the listing at the building, where Howard Lorber’s Vector Group, the Witkoff Group and Ares Real Estate are investors. [NYP]Rich Bockmann

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