Big Ticket: Condo at One57 Brings $34 Million
157 West 57th Street Credit Ozier Muhammad/The New York Times
A glass-sheathed three-bedroom condominium with vistas in four directions, including 60 feet of direct views of Central Park, One 57, the Extell Development Company’s 90-story Midtown tower at 157 West 57th Street, sold for $34 million and was the most expensive sale of the week, according to city records. The listing price was $36 million.
The residence, No. 58A, holds the distinction of being the first apartment in the 94-unit skyscraper to be flipped. The monthly carrying costs are a manageable $7,363, thanks to a tax abatement that has proved extremely popular with buyers. Being the beneficiary of a bargain negotiated by the sponsor apparently causes a psychological uplift at closing.
The 4,483-square-foot apartment, which has nearly 12-foot ceilings and more than 120 windows, has interiors by Thomas Juul-Hansen and a Smallbone of Devizes kitchen; each of the four and a half baths has a different stone finish, and the 24-by-16-foot master bedroom has dual marble baths and three walk-in closets.
Noble Black of the Corcoran Group handled the listing for SSO Enterprises, a limited liability company based in Chicago that paid $30.55 million for the apartment in May but ultimately decided not to retain it as a pied-à-terre. The buyer, also shielded by a limited liability company, One 57 Realty, was represented by David Benmen, Daniel Messing and Benjamin Benalloul of RLTY NYC, a new brokerage.
“Our client capitalized on a once-in-a-lifetime opportunity to invest in what has already become an iconic building,” Mr. Benmen said.
The week’s runner-up, at $27,127,160.35, was a three-bedroom three-and-a-half-bath sponsor unit at the same iconic address but on a slightly higher floor with a slightly smaller floor plan. The apartment’s views and 1,200-square-foot great room are, however, just as spectacular, according to Jeannie Woodbrey, a senior sales executive for One57, now 80 percent sold out. The monthly carrying costs for No. 63B are $7,158.31.
Ms. Woodbrey said the B-line at One57 had been slower to catch on with buyers because, until recently, the best of its views had been blocked by the building’s construction hoist. “This is a drop-dead-gorgeous three-bedroom with park views from the living room and master suite,” she said. The Extell Marketing Group represented the sponsor; the buyer used a limited liability company, West 57 Hudson.
Copyright © 2014 The New York Times Company. Reprinted with Permission. Ozier Muhammad/The New York Times.
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