A penthouse in the Trump International Hotel and Tower on Central Park West didn’t score its original asking price, but still generated a healthy profit for the seller.
Unit PH50A sold last week for $23.5 million, according to property records, more than quadrupling the $6 million it last sold for in 1997, according to StreetEasy. The price breaks down to roughly $5,200 per square foot.
The five-bedroom, 6.5-bathroom apartment spans nearly 4,500 square feet and faces Central Park on three sides, according to the listing, which does not mention the former president’s name. The nine-room unit includes a “loft-like entertaining expanse” and a library.
Amenities in the building, which overlooks Columbus Circle, include a 24-hour doorman with concierge, a live-in resident manager, a roof deck, a health club and spa and 24-hour room service from Jean Georges.
The penthouse was originally listed for $32 million in 2019. It was de-listed several times as its asking price eventually fell to $27 million.
The buyer shielded their identity behind a shell company, but an individual by the name of Sana H. Sabbagh signed the deed on the seller’s side.
Listing brokers Federica Floris and Deanna Kory of Corcoran declined to comment.
While the sale is good news for appreciation at the tower, the former president’s mounting legal problems pose a threat to his real estate empire, according to real estate attorney Pierre Debbas.
A conviction in either of his felony indictments could trigger lenders to pay up in full or refinance. It could also make it difficult for Trump to acquire financing and prevent him from managing LLC partnerships.
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Manhattan’s luxury market has rebounded from a mid-May slump, according to Olshan Realty data on homes asking $4 million or more. Thirty-one units went into contract last week, one fewer than the week prior. But contracts for townhouses have been few and far between as of late, with just one Manhattan townhouse entering contract over the last fortnight.