Penthouse at 277 Fifth Avenue Lands Signed Contract

After more than six years on the market, a NoMad penthouse finally found a buyer.

The apartment at 277 Fifth Avenue landed an inked deal last week, with an asking price of $20 million, according to Olshan Realty’s weekly report. Penthouse 54 initially asked $23 million when sales launched at the building in 2017.

The unit was the most expensive of 25 Manhattan homes asking $4 million or more to enter contract between Jan. 6 and Jan. 12. The total was up from just 20 deals contracts signed in the previous period.

The 4,500-square-foot penthouse has four bedrooms and four bathrooms. It also features a loggia, 14-foot ceilings and 360-degree views of Manhattan. Amenities in the building, designed by Rafael Viñoly Architects, include an entertainment lounge, fitness center and landscaped terrace.

Nikki Field and Mara Flash Blum of Sotheby’s International took over the listing from Serhant in April, according to Streeteasy. Sotheby’s is the third brokerage to market the property, where sales were slow in previous years due to a glut of new development condos.

In 2022, developers Victor Group and Lendlease tapped Serhant’s founder, Ryan Serhant, and then-Serhant agent Maggie Wu to lead sales of the tower’s penthouses, after splitting with Corcoran. Unit PH54 was the first to hit the market under the new team with a $25 million asking price.

Victor Group bought the development site, at the time a six-story commercial building, for $35.1 million in 2015 with plans to build a 55-story condo. The firm and its partner, Lendlease, sold 22 of the building’s 130 units to Shokai Group in 2021 for a discount of $81 million. Shokai, a Beijing-based developer, was the project’s primary financial backer.

The second most expensive home to find a buyer last week was an Upper East Side townhouse asking $17.5 million. The abode at 160 East 83rd Street, which was featured as Kendall Roy’s home in the first season of HBO’s “Succession,” spans 8,000 square feet and has five bedrooms and six bathrooms.

The property, which last traded for $5 million in 2005, includes a garden and a two-story addition with a gym. It also has five gas fireplaces and an elevator. The 18-foot-wide home hit the market in June 2023 with an $18.5 million asking price.

Douglas Elliman’s Eklund-Gomes Team, including agents Raymond Dillulio and Lisa Interdonato, had the listing.

Of the 25 properties, 15 were condos, four were co-ops and six were townhouses.

The homes’ combined asking price was $219 million, which works out to an average price of $8.8 million and a median of $6.6 million. The typical home spent nearly 900 days on the market and was discounted 10 percent from the original listing price.