Robert Herjavec buys One57 condo at $13M discount

Tumbling prices indicate the Billionaires’ Row megatower is losing some of its shine

Robert Herjavec and One57 (Getty, Beyond My Ken/Wikimedia)
Robert Herjavec and One57 (Getty, Beyond My Ken/Wikimedia)

One57 was once the crown jewel of Billionaires’ Row. Gary Barnett’s megatower commanded record sums after its launch in 2011, culminating in the $100 million sale of its penthouse to billionaire Michael Dell in 2014.

But rival towers have sprouted up along the corridor since then, and One57 simply isn’t as popular with the uber-wealthy as it was. The latest evidence: the sale of one of its units for a $13 million loss.

Investor Robert Herjavec, known to a national audience for his appearances on Shark Tank, purchased a condo from the building for $34.5 million, the Wall Street Journal reported Thursday. The seller, a limited-liability company, purchased the unit six years ago for $47.4 million.

Herjavec’s real estate agent claimed the discounted price was reflective of the buyer’s desire to close quickly, not of the market, but the unit was listed a year ago for $45 million, the Journal reported.

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The 6,200-square-foot unit, which spans a full floor, has four bedrooms and a private landing. It features Venetian plaster ceilings, herringbone Brazilian wood floors and a view of Central Park, which Herjavec told the Journal he has long coveted.

This is not the first unit in the Extell Development building to close at a significant loss. In January, one unit in the condo building sold for $16.75 million, a discount of over 50 percent from its previous purchase price in 2014.

[WSJ] — Holden Walter-Warner