CEO of modular homebuilder buys condo on Billionaires’ Row

Clayton Homes CEO Kevin Clayton paid $11M for unit at Extell’s Central Park Tower

New York /
Jun.June 30, 2021 06:15 PM
Kevin Clayton with Central Park Tower (Clayton Homes, Central Park Tower)

Kevin Clayton with Central Park Tower (Clayton Homes, Central Park Tower)

The CEO of modular homebuilding giant Clayton Homes has gone upscale.

Kevin Clayton — also son of the co-founder — paid $11.5 million for a condo unit at Extell Development’s Central Park Tower on Billionaires’ Row. Clayton and his wife Michelle bought the 2,500-square-foot unit at the world’s tallest residential tower at 217 57th Street.

Property records show the couple got a 15 percent discount from the last listed price.

Closings at the 159-unit, 1,550-foot tower began in February.

The Claytons’ 34th floor unit has three bedrooms and three bathrooms. By comparison, a three-bed, three-bath property from Clayton Homes starts at around $120,000.

A glut of luxury condos in the city has driven down the price of units lingering on the market. Extell’s Gary Barnett has said he expects to lose money on half of his current projects.

Brothers Joe and Jim Clayton — Kevin’s father — founded Clayton Homes, and it is now among the largest builders of manufactured and modular homes in the U.S. Warren Buffet’s Berkshire Hathaway acquired the company in 2003 for $1.7 billion.





    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
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
    For 15 years, David Koch lived at the world’s “richest building”
    For 15 years, David Koch lived at the world’s “richest building”
    90 Morton Street and 212 West 18th Street (Photos via 90MortonSt and JDS)
    Walker Tower pad to sell at loss as Manhattan luxury market hits 7-month low
    Walker Tower pad to sell at loss as Manhattan luxury market hits 7-month low
    Rep. Alexandria Ocasio-Cortez, President Joe Biden and House Speaker Nancy Pelosi (Getty)
    Democrats urge Biden to extend eviction ban after House effort falls short
    Democrats urge Biden to extend eviction ban after House effort falls short
    Anderson Cooper is selling the apartment of his late mother Gloria Vanderbilt (Getty, Corcoran)
    Gloria Vanderbilt’s Beekman Place apartment lists for $1.1M
    Gloria Vanderbilt’s Beekman Place apartment lists for $1.1M
    Some real estate agents are seeing a rebound in international interest, but others believe foreign buyers aren’t quite back yet. (iStock)
    Some say foreign buyers are back, but evidence is anecdotal
    Some say foreign buyers are back, but evidence is anecdotal
    Susan Rice (Getty, iStock)
    Susan Rice to co-chair home appraisal inequity task force
    Susan Rice to co-chair home appraisal inequity task force
    arrow_forward_ios

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

    Loading...