In an unusual twist on marketing strategy, developer Gale International has launched penthouse sales at its new Flatiron District condominium project before releasing the smaller, two-bedroom units on the lower floors.
The asking prices for the three luxury penthouse condos at the new Beyer Blinder Belle-designed 21W20, at 21 West 20th Street, range from $13.25 million to $35 million, the developer told The Real Deal exclusively.
The project, which is being marketed by Robin Schneiderman and Stephen McArdle of Halstead Property Development Marketing, is comprised of the three penthouse units as well as nine other two-bedroom units spread over a total 15 floors. The lower floors of the property sit on a 25-foot-wide lot, but the top-heavy building expands above to its full 100-foot width, where the full-floor penthouses are located.
Robin Schneiderman, Stan Gale, Jr. and 21 West 20th Street
“We’re selling this building from the top down,” Schneiderman said. “The penthouses are our priority.”
The penthouse sales gallery opened this week on the top floor of 540 Madison Avenue.
Each penthouse has a private terrace, floor-to-ceiling windows looking south, keyed elevator access and multi-zone heating and cooling. The buyer of the largest rooftop penthouse has the opportunity to customize the layout, Schneiderman said.
The penthouse offers the potential to combine the 13th, 14th and 15th floors into a five-bedroom, six-full- and two-half-bathroom penthouse home spanning 6,910 square feet of interior space and 2,648 square feet of exterior space. That unit is asking $35 million as a combination.
“This is something that barely exists in the market,” said developer Stan Gale, Jr.
A rendering of 21 West 20th Street
The second largest penthouse, on the 12th floor, is a 4,663-square-foot four -bedroom, 4.5-bathroom residence with two outdoor terraces totaling 541 square feet, while the third penthouse is a 4,841-square-foot, four-bedroom, 4.5-bathroom residence with two outdoor terraces totaling 541 square feet. Those units are asking $15 million and $13.25 million respectively.
The design of the units merges an “Uptown sophistication” with the loft feel of Downtown, said interior architect David Mann of MR Architecture + Décor, who designed the units.
“The layouts are open and spacious yet clearly defined by thoughtfully planned interior architecture,” he said.
Located just off Fifth Avenue, the building features a glass, cast-iron and stone façade. Its amenities include a 24-hour doorman, a garden, private storage units that can be converted to climate-controlled wine storage, a pet-wash room and a 421-a tax abatement.
Pricing for the smaller units will not be released until next year.