Bruce Eichner sells West Village condo for a third of ask

A West Village penthouse owned by Ian Bruce Eichner had a hard landing after seven years on the market, ultimately selling for a fraction of its initial ask. 

The Continuum Company chair sold his unit at 100 Morton Street for $9.2 million, Crain’s reported. The price breaks down to roughly $1,614 per square foot for the 5,700-square-foot pad.

Eichner purchased the top-floor unit from Mary-Kate and Ashley Olsen in 2010 for around $8 million. But the developer was looking for much more when he put the unit on the market in 2017, seeking $25 million.  

The two-bedroom pad includes a fireplace, open kitchen, wine storage enclosure and both a dressing room and walk-in closet in the primary suite. The listing for the unit also detailed a floorplan that could allow for a six-bedroom configuration.

The anonymous buyer went into contract to purchase the unit in late September, five months before the deal closed. Corcoran’s Laurie Lewis held the listing.

The 14-story, 140-unit building — known as One Morton Square — opened in 2004. There was one sale more expensive there than Eichner’s, according to StreetEasy. There are also three active listings at the property, two of which are in contract; the other is on the market for $9 million.

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New York

The Closing: Bruce Eichner

Eichner’s rose to prominence as a top condo player in New York, but he’s plying his trade in the Sunshine State these days. 

Continuum recently landed a $90 million construction loan for the La Baia South condos in Bay Harbor Islands, a 68-unit project that is fully sold out. It’s expected to be completed later next year.

Eichner has another project in Bay Harbor Islands, which is 50 percent presold.

— Holden Walter-Warner