The Witkoff Group and Access Industries kept busy with contracts at their West Chelsea condo building in 2023, but started 2024 with a bang in the form of a high-dollar deal.
An anonymous buyer inked a deal for a unit at One High Line that had an asking price of $49 million, the Wall Street Journal reported. The deal for the building’s largest unit has yet to close, but the listing price breaks down to about $6,644 per square foot.
The five-bedroom penthouse spans nearly 7,400 square feet with approximately 4,800 square feet of outdoor space. The unit also has 360-degree views of the city.
The property, designed by Bjarke Ingels Group, features 20,000 square feet of amenities with a lap pool, whirlpool, gym, co-working space, children’s playroom and billiards room. A 120-key hotel in the other of the property’s two structures, and is expected to open early next year.
The 235-unit project has seen 80 deals since closings began in August, according to a spokesperson for the project.
Witkoff co-CEO Alex Witkoff predicted sales this year would surpass those of 2023, which slowed towards the end of the year due to macroeconomic concerns. Even so, the project still notched $600 million worth of deals last year, including 35 of at least $5 million.
In June, a 7,000-square-foot penthouse at the property went under contract for $52 million, making it the building’s most expensive deal so far. That deal has yet to close, though, because the unit remains unfinished.
Corcoran Sunshine’s Deborah Kern and Steve Gold are leading sales at the property with a projected sellout of over $2 billion.
It’s all a far cry from the years that preceded Witkoff and Blavatnik’s stewardship of the project. Ziel Feldman’s HFZ Capital ran into construction delays and a meltdown of its partnership before Feldman was forced to give up The XI for $900 million during a December 2021 foreclosure sale, leading to the One High Line rebrand.
— Holden Walter-Warner
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