Marijuana exec scores Extell’s Carlton House townhouse for big discount

The home traded for $27.5 million

New York /
Jan.January 31, 2019 03:45 PM

The Carlton House at 21 East 61st Street and Jonanthan Sandelman (Credit: Google Maps, Getty Images, and Pixabay)

A marijuana investor just snagged the townhouse at Extell Development’s Carlton House for less than half its original asking price.

The home at 19 East 61st Street sold for $27.5 million, according to records filed with New York City’s Department of Finance. It was last asking $32.9 million, but had initially been listed at $65 million in 2014.

The buyer is a trust tied to Jonathan Sandelman and Alicia Bona Sandelman. Jonathan is CEO of Toronto-based Cannabis Strategies Acquisition Corp., a special purpose acquisition company pursuing deals in the cannabis industry. In 2017, the company said it raised $135 million and is targeting acquisitions in areas including marijuana production and distribution. Jonathan didn’t immediately respond to request for comment.

Extell and the listing brokers — Stribling’s Alexa Lambert, Marc Achilles and Julie Soffen — also didn’t immediately respond to comment.

The 35-foot-wide home spans about 9,700 square feet and has about 2,700 square feet of outdoor space. The owners have use of amenities next door at the Carlton House, including the doorman and concierge, a 65-foot pool, a fitness center and a game room.

In 2016, the home saw a price cut to $37.5 million, from the $65 million it was first listed for in 2014. Brown Harris Stevens’ Paula Del Nunzio was previously marketing the property.

The developer paid $175 million for the site of the Helmsley Carlton House hotel in 2010, converting it into a 68-unit cond-op with partner Angelo, Gordon and Co. Joseph Sitt’s Thor Equities picked up the building’s block-long retail condo for $277 million in 2013.


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)
Extell lands $690M refinancing package for One Manhattan Square
Extell lands $690M refinancing package for One Manhattan Square
FiDi condo supply is through the roof as workers delay office return. (Getty)
FiDi condo glut is through the roof
FiDi condo glut is through the roof
eXp CEO Glenn Sanford (eXp, iStock)
Virtual broker eXp Realty has another record quarter
Virtual broker eXp Realty has another record quarter
RSA's Joseph Strasburg and Judge Lawrence Marks (Getty, Strasburg via Jeffersons Siegel)
Landlord group challenges state eviction ban
Landlord group challenges state eviction ban
Redfin CEO Glenn Kelman (Getty, Redfin)
Pocket listings exclude minority homebuyers, Redfin CEO says
Pocket listings exclude minority homebuyers, Redfin CEO says
(378 West End, 300 West and 567 Ocean Avenue, Getty)
April was best month for new condo sales in 5 years
April was best month for new condo sales in 5 years
As the economy rebounds, rental prices are following suit. With the eviction ban recently overturned, that spells trouble for tenants who are struggling to make ends meet. (iStock)
Rents rise across country as economy rebounds
Rents rise across country as economy rebounds
Howard Lorber (iStock, Getty)
Elliman reports $14M quarterly profit, 65% revenue jump
Elliman reports $14M quarterly profit, 65% revenue jump
arrow_forward_ios

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

Loading...