One57 Condo Update

ricardo, Jun 9, 2013 4:41:40 PM


This past week in New York, Extell unveiled its dramatically staged on-site model apartment on the 41st floor. The 3,228 sq. ft. three-bedroom model at One57 is listed for $17.5 million. Upgrades to the apartment, however, were reported to retail at $3 million. While the condo building is over 70% sold, with only one of ten full floor residence remaining (with an asking price of $55 million), the building has had its hardest time selling 3-bedroom units on its lower floors, directly south of the Essex House and its infamous neon sign. By targeting the lower floors for the model, Extell aims to show potential buyers what they are missing – fabulous views of Central Park and the city, regardless of the signage.

In other One57 news, the WSJ recently reported that a group of investors led by hedge funder William Ackman of Pershing Square Capital Management LP is in contract to buy the lower penthouse in the building for more than $90 million. The lower duplex penthouse on the 78th and 79th floors is 13,554 sq. ft. and features outdoor terrace and winter garden.

Source: WSJ