West Chelsea Penthouse Trades Above $39.5M Asking Price

A crown jewel penthouse in West Chelsea has sold for a king’s ransom.

Penthouse 25, the top-floor unit at The Cortland, a 25-story condominium at 555 West 22nd Street, sold for $40 million, according to public records.

The home came on the market in May 2024 asking $39.5 million, according to StreetEasy. Spanning over 5,700 square feet, the apartment has four bedrooms and four full bathrooms. Two private terraces, facing the Hudson River to the west and the city to the north, cover almost 600 square feet of outdoor space.

The home comes with two fireplaces and floor-to-ceiling windows with unobstructed views of the river.

Core’s Shaun Osher has been leading sales, along with the building’s sales office.

Sales launched in 2022 at the 144-unit project developed by Related Companies and Mitsui Fudosan America and have been chugging along ever since. The building is over 85 percent sold, according to Marketproof.

Designed by Robert A.M. Stern Architects, with interiors from Olson Kundig, the Cortland features a screening room that can serve as a performance space with a stage, an interactive virtual reality room, game room and a golf simulator. The building’s spa holds a 75-foot pool, sauna, yoga, and pilates studio and treatment room.

New York Yankees captain Aaron Judge was reported in 2023 to have purchased another penthouse in the building, with plans to build out the 7,000-square-foot floor-through space.

The luxury sector in the city has outpaced the rest of the market, which has been battered by a rocky public equity market and stubbornly high mortgage rates. Last week, Manhattan notched 55 signed contracts for homes asking at least $4 million, the highest weekly total in nearly four years, according to data from Olshan Realty.

Luxury co-op and condo sales in Manhattan rose nearly 30 percent in the first quarter, up to 250 from 200 in the same period last year, according to data from Miller Samuel. The average luxury home sale price grew 37 percent year-over-year to $10.3 million, the highest average on record.

The penthouse is located less than a block away from a competing penthouse seeking to nearly double its price. Former Howard Hughes CEO David Weinreb listed his gut-renovated unit at 551 West 21st Street earlier this year for $75 million — a potential record sale for Downtown Manhattan.