As Brexit looms, British consulate pays $16M for Manhattan penthouse
UK got a $3M discount at 50 United Nations Plaza
Investors in the U.K. might be holding back until Brexit is settled, but the British embassy in New York is doubling down.
The British Consulate-General in New York purchased a sponsor unit penthouse on the 38th floor of 50 United Nations Plaza for $15.9 million.
It is unclear who will live in the apartment, but a power of attorney document was signed by Michael Tatham, the deputy British ambassador to the United States.
The unit was originally listed at $25.2 million in 2016 by Zeckendorf Marketing, approximately $4,280 per square foot. The price has dropped to $18.9 million by 2017. The British consulate paid $3 million less than the final listing price, at around $2,700 per square foot.
The apartment spans almost 6,000 square foot and has five main bedrooms, two “staff” bedrooms, and six-and-a-half bathrooms. It has views of the East River and the United Nations Secretariat Building. Amenities at the building includes a swimming pool, gym, spa and wine cellars.
Developers Zeckendorf Development and Global Holdings purchased the site for $160 million in 2007. Sales at the building, which began in 2013, were initially sluggish.
The priciest unit, a 15,000 square foot triplex apartment was initially listed at $100 million in 2013. The units were eventually broken up into a duplex top-floor penthouse and a full-floor pad below. The duplex first listed at $70 million before facing a few price cuts to $63 million. The United States federal government currently leases one of the units, a 6,000-square-foot penthouse as an official residence for the U.S. Ambassador to the United Nations.
A separate constitutional monarchy headed by Queen Elizabeth was criticized for buying at the building. In 2015, members of New Zealand’s Labour party called the government’s purchase of an $8 million apartment on the 18th floor “extravagant” and “out of touch.” The head of the country’s mission to the U.N., Gerard van Bohemen, lives there.