East of Billionaires’ Row, a new PH comes with a discount

252 East 57th Street’s priciest pad has hit the market for $37.5M

TRD New York /
Oct.October 18, 2017 02:40 PM

As sky-high penthouses along Billionaires’ Row struggle to make their aspirational asking prices a reality, one building to the east of West 57th Street’s main drag is pricing its penthouse more competitively.

The six-bedroom, seven-bathroom unit at 252 East 57th Street, between Second and Third avenues, will hit the market asking $37.5 million – less than half the listing price of some of its neighbors a mere few blocks over.

“Our developers have always been strategic and realistic about pricing,” Stribling’s Pamela D’Arc, the sales director for the building, told the Wall Street Journal. Those developers are World Wide Group and Rose Associates.

The penthouse, which had been held off the market until recently, comprises the entire 8,139-square-foot 65th floor. It boasts two private balconies, large living and dining areas, a master suite and views of the George Washington and Verrazano bridges.

And while the penthouse hasn’t found a buyer, the incentive pricing in the rest of the tower already moved around 70 percent of its inventory. Shoe mogul Steve Madden recently paid $12.2 million for his unit at the building. [WSJ]Christopher Cameron 

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

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

56 Leonard Street (Credit: iStock)

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit

Due to relatively high income levels and low transportation costs, New York City is the eight most affordable of 20 major cities (Credit: iStock)

NYC is the 8th most affordable big city in America*

53 West 53rd Street, 885 Park Avenue, 70 West 45th Street (Credit: StreetEasy)

Five priciest homes to hit the market last week all over $22M