Penthouse at 111 West 57th Street fetches over $50M

Billionaires’ Row sale is good sign for Covid-era luxury market

New York /
Dec.December 09, 2020 08:50 AM
111 West 57th Street and JDS Development's Michael Stern (Photos via JDS)

111 West 57th Street and JDS Development’s Michael Stern (Photos via JDS)

A penthouse apartment at 111 West 57th Street has gone into contract for more than $50 million.

The deal in the under-construction ultra-skinny tower on Billionaires’ Row, reported by the Wall Street Journal, is one of the priciest since the pandemic started.

Offering plans list the unit at $57 million. JDS Development’s Michael Stern did not reveal the price or buyer.

Read more

$58M penthouse at 111 West 57th goes into contract
111 West 57th sees two $30M+ sales in midst of shutdown
How the supertall at 111 West 57th St. became a labyrinth of offshore wealth

In 2019, a penthouse in the building fetched $58 million.

Earlier this year, a few months into the pandemic, two other apartments at the property sold for over $30 million apiece.

There are several penthouses in the building. Located at an elevation of about 1,000 feet, the latest one to find a buyer is 7,103 square feet and has four bedrooms and five and a half bathrooms, according to the offering plan.

The deal is notable during a period that has seen Manhattanites flee and affluent buyers focus on homes outside the borough. In the third quarter, luxury home sales in Manhattan were down 46.7 percent from the same period in 2019.

[WSJ] — Sasha Jones

 

Related Articles

arrow_forward_ios
Dov Hertz (Photo by Studio Scrivo)
The Closing: Dov Hertz
The Closing: Dov Hertz
432 Park Avenue (Getty)
432 Park tenants plagued by creaks, leaks and design flaws
432 Park tenants plagued by creaks, leaks and design flaws
(Engel & Völkers Market Center, 432 Park)
Sugimoto-curated 79th floor at 432 Park quietly hits market
Sugimoto-curated 79th floor at 432 Park quietly hits market
Extell CEO Gary Barnett pictured with One57. (Extell, One57)
One57 condo sells at record 51% loss
One57 condo sells at record 51% loss
JDS Development’s Michael Stern with 111 West 57th Street and Central Park Bike Tours (JDS, Google Maps)
JDS Development gets a turn as bike shop’s legal target
JDS Development gets a turn as bike shop’s legal target
111 W 57th, Central Park Tower, and 432 Park (JDS Development, Central Park Tower, 432 Park)
“Anything is believable”: Artist fools brokers to access city’s priciest condos
“Anything is believable”: Artist fools brokers to access city’s priciest condos
JDS Development's Michael Stern and 111 West 57th Street (JDS)
JDS sues 111 West 57th contractor, insurer over shoddy work and “blunderbuss requests”
JDS sues 111 West 57th contractor, insurer over shoddy work and “blunderbuss requests”
Extell Development's Gary Barnett and Central Park Tower (Building photo via Central Park Tower)
Falling ice capades: Extell sued over icicles at Central Park Tower
Falling ice capades: Extell sued over icicles at Central Park Tower
arrow_forward_ios

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

Loading...