$30M unit latest in string of deals at ‘Jenga Tower’ as record sale looms

Another massive penthouse is in contract at 56 Leonard Street in Tribeca with a last ask of $50M

New York /
Oct.October 20, 2021 05:20 PM
56 Leonard, PH 58 (Getty, Sotheby's)

56 Leonard, PH 58 (Getty, Sotheby’s)

Sales at 56 Leonard — the Tribeca condo building noted for its Jenga-like appearance — are anything but wobbly, with one major deal hitting the books and another on the way.

The sale of the penthouse owned by hedge funder Leon Shaulov at the Tribeca condominium closed last week at $30 million — below its last ask of $34.5 million but up from the $26.7 million Shaulov and his wife laid down to purchase it in 2017.

56 Leonard, PH 58 (Getty, Sotheby's)

56 Leonard, PH 58 (Getty, Sotheby’s)

The condo is the priciest unit sold in the building this year, according to a Compass spokesperson, though another penthouse that went into contract in August with an asking price of $50 million could soon top it.

The sales are the latest in a series of recent contracts and closings at the building, which has seen nine deals in three months, six of which have now closed.

Another penthouse three floors below Shaulov’s sold for $29.5 million in August (the Herzog & de Meuron-designed tower has at least nine penthouses). Comedian Keegan-Michael Key sold his 35th-floor unit for $5.5 million two weeks ago.

The Manhattan luxury market has been bustling this year, with buyers signing contracts to purchase a total of $11.4 billion worth of luxury homes this year as of last month. The Manhattan sales market as a whole had its busiest quarter ever in the third quarter, with more than 4,500 deals.

“Every day, the city continues to prove itself over and over again,” said Compass’ Zeve Salman, who represented the unnamed buyer alongside partners James Weiss and Jaime Davis. “A year ago, no one would have imagined we were seeing this many sales at this price point.”

The 5,489-square-foot unit has five bedrooms, five full bathrooms and one half bathroom. Sold for $5,488 per square foot, the condo has ceilings that stretch 14 feet high, two terraces that span a total of 745 square feet and a 575-bottle wine closet.

Other celebrities that have called the four-year-old building home include R&B artist Frank Ocean and starchitect Lee Mindel.

Sotheby’s International Realty’s Cortnee Glasser represented Shaulov, Salman said.





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