The Real Deal New York

Hirschfeld finds a buyer for Marquand investment penthouse

Unit was last asking $36M
By Decca Muldowney | February 13, 2019 04:00PM

Elie Hirschfeld & 11 East 68th Street (Credit: Getty Images)

Elie Hirschfeld’s firm is selling the “investment” penthouse it bought at the Marquand.

While the last listing price of the six-bedroom triplex pad before going into contract was $36 million, Karl Griggs, executive vice president at Hirschfeld Properties, said the company didn’t sell everything they owned in the building and the price doesn’t represent a loss.

“We had an offer and it made sense to sell,” Griggs said. “We didn’t sell the entire package.”

Hischfeld in September 2016 paid $37.5 million for the penthouse pad. The firm declined to state what other units it had at 11 East 68th Street, which HFZ Capital Group and Vornado Realty Trust bought in 2011 and converted to luxury condominiums.

Located a block from Central Park, the apartment features seven bathrooms and has two terraces with an outdoor exercise pool and hot tub.

John Burger at Brown Harris Stevens had the listing.