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The end of an Era: Serhant takes over sales at cantilevered UWS building
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Brokerage taking sales atop Victor, Lendlease’s 277 Fifth Avenue: sources
Serhant is taking over sales at the tippy top of Victor Group and Lendlease’s Fifth Avenue tower.
The brokerage has scooped up sales and marketing at 277 Fifth Avenue, bumping Corcoran, which was previously marketing the entirety of the building, according to sources.
Corcoran, which was behind deals including one penthouse — PH52 — that closed in May 2019, is no longer marketing the remainder of the building, according to sources. The brokerage declined to comment.
Founder Ryan Serhant and agent Maggie Wu will manage sales of the penthouses on behalf of the firm. The first penthouse released is PH54, offered at nearly $25 million.
The penthouses are located atop the 55-story tower that has 130 one-to-four-bedroom residences. The building was developed by Victor Group and Lendlease and designed by architect Rafael Viñoly, with interiors by Jeffrey Beers International.
The property previously appeared to struggle with sales. In November, owners Lendlease and Victor Group turned to a bulk buy to unload units at the building, selling off 22 of them at a discounted rate to Shokai Group for $81 million. The sale included 17 percent of the building’s 130 units.
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The end of an Era: Serhant takes over sales at cantilevered UWS building
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Victor picked up a six-story commercial building at the site in 2015 for $35.1 million, with plans to develop a 52-story condo tower. Move-ins at the 55-story, 130-unit tower began nearly three years ago with prices starting at $2 million.
The property includes three four-bedroom homes that span a full floor and offer panoramic views of the Manhattan skyline.
The penthouses at 277 Fifth Avenue marks the 27th project for Serhant’s new development arm in approximately 22 months. The division also manages sales and marketing for The Westly, Jolie at 77 Greenwich, Iris TriBeCa, Brooklyn Point, Quay Tower, and Huxley, among others, representing a total of over $10 billion in new development inventory.
Holden Walter-Warner contributed reporting.