As Brexit looms, British consulate pays $16M for Manhattan penthouse

UK got a $3M discount at 50 United Nations Plaza

TRD NEW YORK /
Mar.March 22, 2019 01:00 PM

Deputy British ambassador Michael Tatham and 50 United Nations Plaza (Credit: Twitter)

Investors in the U.K. might be holding back until Brexit is settled, but the British embassy in New York is doubling down.

The British Consulate-General in New York purchased a sponsor unit penthouse on the 38th floor of 50 United Nations Plaza for $15.9 million.

It is unclear who will live in the apartment, but a power of attorney document was signed by Michael Tatham, the deputy British ambassador to the United States.

The unit was originally listed at $25.2 million in 2016 by Zeckendorf Marketing, approximately $4,280 per square foot. The price has dropped to $18.9 million by 2017. The British consulate paid $3 million less than the final listing price, at around $2,700 per square foot.

The apartment spans almost 6,000 square foot and has five main bedrooms, two “staff” bedrooms, and six-and-a-half bathrooms. It has views of the East River and the United Nations Secretariat Building. Amenities at the building includes a swimming pool, gym, spa and wine cellars.

Developers Zeckendorf Development and Global Holdings purchased the site for $160 million in 2007. Sales at the building, which began in 2013, were initially sluggish.

The priciest unit, a 15,000 square foot triplex apartment was initially listed at $100 million in 2013. The units were eventually broken up into a duplex top-floor penthouse and a full-floor pad below. The duplex first listed at $70 million before facing a few price cuts to $63 million. The United States federal government currently leases one of the units, a 6,000-square-foot penthouse as an official residence for the U.S. Ambassador to the United Nations.

A separate constitutional monarchy headed by Queen Elizabeth was criticized for buying at the building. In 2015, members of New Zealand’s Labour party called the government’s purchase of an $8 million apartment on the 18th floor “extravagant” and “out of touch.” The head of the country’s mission to the U.N., Gerard van Bohemen, lives there.


Related Articles

arrow_forward_ios
TRD Talks Live

Watch tonight: Turning to tech on TRD Talks Live

(Credit: iStock)

Strong quarter for Manhattan home sales belies current struggle

Manhattan resi listings continue nosedive: report

Manhattan resi listings continue nosedive: report

252 East 57th Street and 196 Orchard Street with Samantha Sheeber and Tal Alexander

Closing in the time of Covid-19: “We’re pulling out all the stops”

Kuwait’s consul general in New York, Hamad Al-Hazeem and 50 United Nations Plaza (Credit: Google Maps)

Kuwait’s consul general buys 50 UN Plaza pad for $16M

Web searches for terms including “homes for sale” are way down up north. (Credit: Pixabay)

Fewer Canadians are searching for homes online amid pandemic

Massive stimulus package has limited upside for real estate

Massive stimulus package has limited upside for real estate

About 450 sellers pulled their listings last week (Credit: iStock)

As New York shut down, so did its resi market

arrow_forward_ios
Loading...