[chris08876]

Some info and reflection on the sales:


One57 Sets New York Record With $100.5 Million Condo Sale

A duplex penthouse spanning the top two floors of the One57 condominium tower was sold for $100.5 million, setting a record for the most expensive residential deal ever completed in Manhattan.

The sale of Unit 90, which spans all of the 89th and 90th floors of the 1,004-foot (306-meter) tower, closed on Dec. 23, according to records made public by the New York City Department of Finance on Friday afternoon. The buyer was listed as P89-90 LLC.

The apartment, with almost 11,000 square feet (1,020 square meters) of space, including six bedrooms, was last for sale at $115 million, according to a price list filed with the New York state attorney general’s office. The duplex was marketed at $98.5 million before the builder, Extell Development Co., raised prices in response to strong demand.

The deal sets a new bar for the Manhattan residential market, breaking a record set in 2012 when former Citigroup Inc. (C) Chairman Sanford Weill sold his penthouse at 15 Central Park West for $88 million.

Another Duplex

Sales at One57 began in 2011 and reached $1 billion in the first six months, including the deal recorded on Friday.

Another duplex at the building, spanning the 75th and 76th floors, is under contract to be sold for more than $90 million to an investment group that includes Bill Ackman, founder of New York-based hedge-fund firm Pershing Square Capital Management. That deal has yet to be recorded in public records.

Sales at One57 have slowed to a trickle amid competition from other properties reaching the market. Just one contract was signed in each of the first three quarters of 2014, Extell said in a filing on the Tel Aviv Stock Exchange, where the company sells debt to investors. As of the end of September, 24 of the project’s 94 condos were unsold.

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http://www.bloomberg.com/news/2015-0...ondo-sale.html