These are some of the most notable resi sales in NYC this week

After sitting on the market for years, a co-op at 240 Centre Street sells for $11M

New York /
Jul.July 22, 2019 09:46 AM
From left: 520 Park Avenue with William Zeckendorf and 240 Centre Street (Credit: Wikipedia, Getty Images, StreetEasy)

From left: 520 Park Avenue with William Zeckendorf and 240 Centre Street (Credit: Wikipedia, Getty Images, StreetEasy)

Closings in late June — in what appears to have been efforts to beat out the new mansion and transfer taxes on luxury residential buys — continue to trickle in to New York City’s public records databases. Some eye-catching deals that popped up last week include another closing at Zeckendorf Development’s 520 Park Avenue and, after 11 years on the market, the sale of a gymnasium-turned-apartment at the former police building in Little Italy. Though unfortunately for the buyer of that unit, the deal closed on July 1 — the day the new fees kicked in.

Source: A TRD analysis of public records filed with the New York City Department of Finance from July 15 to July 19.

1.) A mystery buyer under “520 Park 31 LLC,” with attorney Bruce M. Cohen as authorized signatory, shelled out $26 million for the 31st-floor unit at 520 Park Avenue. The four-bedroom pad measures 4,628 square feet, pricing the deal at about $5,618 per square foot. The unit’s asking price was $31 million, according to StreetEasy. Another full-floor apartment two floors up also recently sold for over $28 million, and also ahead of the new taxes on residential purchases. The 64-story luxury tower has seen some of the priciest residential closings in Manhattan.

2.) A sponsor five-room penthouse at Brack Capital Real Estate’s 90 Morton Street in the West Village is off the market for a little over $11.6 million, or $3,631 per square foot. The buyer in this transaction again is unknown, masked by the entity “Elljay (NY) Limited” and with attorney Ruben G. Perlmutter as authorized signatory. The unit was listed as in contract in 2018 at a price of $15.2 million, according to StreetEasy.

3.) A 6,600-square-foot co-op at 240 Centre Street, also known as the old New York City police building in Little Italy, sold for $10.5 million, or $1,591 per square foot. The seller of Unit 5H was a trust and the buyer was recorded as Richard Edelman. The final sale price marked a steep discount from the $30 million asking price in 2008, when the home first hit the market. Architect Charles Gwathmey converted the building’s former gymnasium into the four-bedroom home. Douglas Elliman’s Sara Dai and Raphael De Niro had the most recent listing. The New York Post first reported the sale. Meanwhile, the building’s domed penthouse remains on the market, asking $19.5 million.


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