The Real Deal New York

Trump Tower sees fourth sale of the year

Corner apartment sold for $4.4M
By Kathryn Brenzel | December 18, 2018 12:30PM

Trump Tower at 721 5th Avenue (Credit: Getty Images)

A corner apartment at Trump Tower just sold for $4.4 million, marking the fourth sale in what’s been a sluggish year for the building.

The 49th floor apartment appears to have been owned by Nicholas Notias, a Greek businessman who owns the shipping company, Seabridge Chartering, according to documents filed with the city Department of Finance on Monday. The roughly 1,900-square-foot unit was initially listed by Keller Williams for $7.75 million in February 2017 but has since undergone a few price cuts, according to StreetEasy. The apartment at 721 Fifth Avenue was most recently listed for just under $5 million.

The last sale in the Fifth Avenue building was a 59th floor unit, which sold for $2.7 million last month. According to the Wall Street Journal, there were seven sales in the tower last year and eight in 2016. While the sales pace in the building is part of a larger softening in the city’s luxury residential market, the tower’s association with President Trump might also be a contributing factor.

Representatives at the Trump Organization did not immediately respond to a request seeking comment.

According to StreetEasy, there are 17 active listings at Trump Tower, one of which is in contract.