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

Just the penthouse is left at the luxury property

New York /
Dec.December 11, 2018 06:12 PM

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.


Related Articles

arrow_forward_ios
Los Angeles, New York and Miami metro areas are in the top 10 of owner-occupied million dollar homes. (iStock)
These metro areas have the most — and fewest — million-dollar homes
These metro areas have the most — and fewest — million-dollar homes
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
Salesforce CEO Marc Benioff and Amazon's Jeff Bezos are backing the startup (Getty, Arrived)
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Orchard's Patrick McClymont and HomeLight's Sean Aggarwal (Photos via IMAX, The Org)
Orchard, HomeLight move toward IPOs with new execs
Orchard, HomeLight move toward IPOs with new execs
Sara Gore (right) and Ryan Serhant (Getty)
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
From left: Mathew Chapman, Michele Kowal, Maryanne Elsaesser and Rhonda Battifarano (NJ Home Navigators)
Christie’s NJ affiliate claims “big win” in agent-poaching dispute with Compass
Christie’s NJ affiliate claims “big win” in agent-poaching dispute with Compass
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
(Getty)
Housing rush: In-person school adds fire to rapidly heating market
Housing rush: In-person school adds fire to rapidly heating market
arrow_forward_ios

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

Loading...