JDS, Property Markets’ 111 W 57th Penthouse Snags Inked Deal

JDS Development and Property Markets Group found a buyer for the second-to-last remaining condo at its Billionaires’ Row skyscraper.

Last week, a buyer signed a contract for a penthouse at 111 West 57th Street, asking $45 million, bringing the supertall closer to sellout after nearly a decade of sales. The inked deal topped Olshan Realty’s weekly report on deals for Manhattan properties asking $4 million or more.

Unit PH76 was one of 39 homes asking $4 million or more in the borough to land inked deals between April 13 and April 19. The total was on par with the previous period, when 38 luxury properties found buyers, though the number of trophy properties — defined as homes asking $10 million or more — last week hit 10, which is the highest total in at least a decade.

The duplex initially asked roughly $55 million when the developers first started marketing units off of floor plans in 2016. It spans more than 6,500 square feet and has four bedrooms and four bathrooms. It also features 14-foot ceilings, a terrace and views of Central Park.

The supertall is still looking for a buyer for its quadplex, which is now asking $98 million after hitting the market for $110 million a year ago. The penthouse, as marketed, is a combination of two duplexes.

The Nikki Field Team with Sotheby’s International is heading sales at the 60-unit building, where apartments have closed for an average of $4,300 per square foot. Its amenities include a fitness center, pool, terrace and private dining room.

The second most expensive home to nab a signed contract was a condo at Extell Development’s 50 West 66th Street, with an asking price of $35.5 million.

Unit 56N spans 4,900 square feet and has four bedrooms and five bathrooms. It also features two loggias, ceiling heights over 14 feet and views of Central Park.

The condo is one of four at the Lincoln Square tower to steal the No. 1 or No. 2 spot in Olshan’s weekly report, including in the previous period, when Unit 40N found a buyer with an asking price of $23.5 million.

Of the building’s 121 condos, 90 have closed so far for an average of $3,300 per square foot. The building’s amenities include indoor and outdoor pools, pickleball courts and a screening room.

Sales at the tower are led by Douglas Elliman’s Janice Chang, Corcoran’s Hilary Landis and Beth Benalloul, as well as an in-house team with Extell Development Marketing.

Of the 39 properties, 28 were condos, four were co-ops and seven were townhouses.

The homes asked a combined $371 million, which works out to an average of $9.5 million and a median of $7.7 million. The typical home was on the market for two years and had a discount of 9 percent.