The Real Deal New York

Hotel chain CEO buys 252 East 57th St. duplex for $12.9M

Just the penthouse is left at the luxury property
By Mary Diduch | December 11, 2018 06:12PM

Michelle Barnet and 252 East 57th Street (Credit: Columbia West Properties and CityRealty)

The sale of a 58th-floor duplex at World Wide Group and Rose & Associates’ 252 East 57th Street means all that’s left is its $29.75 million penthouse, its listing agent told The Real Deal.

Michelle Barnet, CEO of Pineapple Hospitality Company, bought duplex 58/59 B for $12.9 million, according to a new city filing.
The building’s sales director Pamela D’Arc of Stribling declined to comment on the sale, but noted that the penthouse is the last of the 95 condominium units still on the market.

The 65-story building by developers World Wide Group and Rose Associates launched sales in 2014, and was completed in 2016. According to the offering plan, the developers are shooting for a $648 million sellout.

The 4,516-square-foot duplex has five bedrooms and a glass staircase, according to its listing on Stribling’s website. Its kitchen is outfitted with walnut cabinets, white quartz countertops and three ovens. The duplex was first listed for $14.88 million in 2017, according to StreetEasy.

The 8,100-square-foot, six-bedroom penthouse hit the market in late 2017 for $37.5 million, which was already a big discount compared to similar apartments along Billionaires’ Row.

As for buyer Barnet, the purchase comes months after Washington-based Pineapple, which has 10 hotels in major cities across the country, opened what appears to be its only hotel in the city. Sam Chang’s McSam Hotel Group sold its leasehold on 337 West 36th Street in Midtown to Pineapple in August for $22.1 million.