A sponsor unit at Extell’s One57 just sold at a 24% discount

The buyer was anonymous

New York /
Feb.February 01, 2019 01:45 PM

Exterior and interior views of 157 West 57th Street (Credit: Wikipedia)

Discounts continue to dominate the ultra-luxury condo market.

A sponsor unit at Extell Development’s One57 tower sold for $22 million, down from its original listing price of $28.9 million.

The anonymous purchaser bought unit 60B through an LLC called “Thrive Land NY,” according to property records. The deed was signed by Lei Fu, for the law firm Ju Wang Associates.

The firm has offices in Manhattan and Beijing, and their website states they specialize in working with Chinese clients.

The three-bedroom, three-and-a-half bathroom apartment has views over Central Park and the Manhattan skyline.

Extell’s luxurious tower at 157 West 57th St has a performance room with Steinway piano that overlooks Carnegie Hall, a library room with a 24-foot aquarium and a pet wash room.

As the ultra-luxury market slowed last year, Extell offered to pay for three years’ worth of common charges on one- and two-bedroom units put into contract at One57 and its other developments by Dec. 31, 2018.


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
Michael Stern and Walker Tower unit 15B (JDS, Google Maps)
Michael Stern’s Walker Tower pad sells for 24% under ask
Michael Stern’s Walker Tower pad sells for 24% under ask
Homebuilding is largely responsible for the increase in construction spending. (Getty / Photo Illustration for The Real Deal)
Construction spending hits new record in January
Construction spending hits new record in January
A Columbus Circle apartment once owned by Tom Brady and Gisele Bundchen  went into contract last week, helping the Manhattan luxury home market finish February on a high note. 551 West 21st Street on the right. (Photos via Compass, Getty, Foster and Partners)
Manhattan luxury market has best month in six years
Manhattan luxury market has best month in six years
(iStock/Illustration by Kevin Rebong for The Real Deal)
These are real estate executives’ worst worries for 2021
These are real estate executives’ worst worries for 2021
Richard Lampen and Howard Lorber (Vector Group)
Calling all founders: Howard Lorber’s Vector Group launches VC arm
Calling all founders: Howard Lorber’s Vector Group launches VC arm
Bryan Cranston and his California beach house (Getty, Realtor)
“Breaking” news: Bryan Cranston lists eco-friendly SoCal beach pad
“Breaking” news: Bryan Cranston lists eco-friendly SoCal beach pad
RE/MAX CEO Adam Contos (Facebook)
RE/MAX revenue ticks up in Q4 but profit sinks
RE/MAX revenue ticks up in Q4 but profit sinks
arrow_forward_ios

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

Loading...