HGTV founder buys One57 condo for $12.7 million

Kenneth Lowe nabs unit for $1.5 million below asking price

New York /
Aug.August 03, 2021 08:30 AM
HGTV Founder Kenneth Lowe with the ONe57 condo (Getty, Douglas Elliman via Realtor)

HGTV Founder Kenneth Lowe with the ONe57 condo (Getty, Douglas Elliman via Realtor)

The founder of HGTV won’t need to call the Property Brothers for his new luxury condo on Billionaire’s Row.

The former Scripps CEO and chairman Kenneth Lowe and his wife Julia Lowe have purchased a unit in the One57 tower for $12.7 million, according to newly released property records.

Gary Barnett’s Extell Development completed One57 in 2014. Its 94 condo units sit on top of the Park Hyatt Hotel, which occupies the lower levels of the building.

The developer sold Lowe the condo in a sponsor sale, according to a source familiar with the all-cash deal.

The 3,228-square-foot condo has three bedrooms and three and a half bathrooms. It features high ceilings, a walk-in closet, heated floors, a deep soaking tub and views of Central Park. Building amenities include a pool, fitness center, library and access to the Park Hyatt’s spa.

Designed by French Architect Christian de Portzamparc, One57 was once considered the crown jewel of Billionaire’s Row. In 2014, Michael Dell purchased a penthouse in the building for a record $100.5 million.

In recent years, One57 has experienced slow sales and some of its condos have been re-sold at a loss. Last month, investor Robert Herjavec purchased a condo at the tower at a $13 million discount from its asking price.

Lowe received a discount too, although not as large as Herjavec’s. He paid $1.5 million under the $14.2 million asking price.

In 1994, Lowe founded HGTV when he was an executive with E.W. Scripps. He later became the president, chairman of the board and CEO of Scripps Networks Interactive from 2008 until it was acquired in 2018 by Discovery, on whose board he now sits.

Noble Black of Douglas Elliman, who had the listing, declined to comment.





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