Stephen Ross is on the hunt for a buyer for his condo at Superior Ink.
The billionaire developer listed his 1,900-square-foot unit at 400 West 12th Street for just under $7 million, Crain’s New York first reported. The apartment is one of at least three of Ross’ New York City holdings he’s traded since moving full-time to Palm Beach in 2020.
Related Companies, the firm Ross founded, developed the 85-unit building in the early 2000s, and Ross added the apartment to his portfolio in 2010. The offering plan listed the unit’s asking price at around $5 million, though Ross transferred the title to himself for free.
Unit 4J has three bathrooms and two bedrooms, with the option to convert the den to a third bedroom. It also features views of the Hudson River, a chef’s kitchen and a primary suite with two walk-in closets.
The building, the former site of the Superior Ink factory, has attracted a long list of celebrity buyers, including designer Marc Jacobs and actress Hilary Swank. Last week, Jordan Roth, a Broadway producer and son of Vornado Realty Trust’s CEO Steven Roth, snagged a signed contract for his four-bedroom unit in the property, asking just under $20 million.
Earlier this month, Ross sold an apartment at Related’s 70 Vestry Street in Tribeca for roughly $9 million. The developer bought the two-bedroom unit for $7 million in 2018.
Two years prior, Ross also offloaded his five-bedroom penthouse at 25 Columbus Circle, another Related projects once known as the Time Warner Center, for $40 million — significantly lower than the $75 million he sought for the apartment in 2019.
The developer appears to be holding on to his penthouse at 35 Hudson Yards, at least for now.
Ross stepped down from his post as chairman at Related last summer to focus full time on projects in Palm Beach County. He spun off Related’s Southeast division and rebranded it as Related Ross with him as chairman and CEO.
The 84-year-old developer’s move came more than a decade after he handed over the CEO and president reins to Jeff Blau. Ross stayed on with the firm as a non-executive chairman and its largest shareholder.
Ross started ramping up his activities in South Florida roughly three years ago, though he’s owned a home in Palm Beach for 20 years and bought the Miami Dolphins football team and Hard Rock Stadium more than a decade ago.
In 2021, Ross bought three office towers and finished a fourth in downtown West Palm Beach. Last year, he completed a 322-unit rental building called the Laurel, and earlier this year, he wrapped up a 25-story office tower.
Ross is now developing a 108-unit condo project known as South Flagler House, which launched sales in 2023. He’s also planning two office towers, 10 Cityplace and 15 Cityplace, and a kindergarten-through-12th-grade private school near Florida’s Turnpike.
— Sheridan Wall
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