Tags: nyc | penthouse | sell | priced

Penthouse Near NYC High Line 'Priced to Sell' at $29.75 Million

Penthouse Near NYC High Line 'Priced to Sell' at $29.75 Million
(Mihai Andritoiu/Dreamstime)

Tuesday, 11 June 2019 02:58 PM

A three-level penthouse along Manhattan’s High Line that’s been lingering on the market is now “priced to sell” after getting a 41% price cut, to $29.75 million.

The 6,853-square-foot (637-square-meter) penthouse at 520 W. 28th St., designed by Zaha Hadid, was first listed in 2016 for $50 million, according to StreetEasy. Its price was whittled to $39.5 million in January before the most recent reduction this month.

“Let’s close before 7/1!” reads an email blast touting the new price from Charlie Attias, the Corcoran Group broker marketing the property. He didn’t immediately respond to an email seeking further comment.

The five-bedroom penthouse includes a rooftop level with a 2,000-square-foot wraparound terrace surrounding an interior lounge that can be used for parties, according to the listing. The unit’s three floors are knitted together by a staircase as well as a private elevator.

Selling costly condos is an uphill climb in Manhattan these days, as the supply of newly built residences for the global elite mounts and would-be buyers hold out for bargains. Contracts to buy Manhattan condos for $4 million or more are down 21% this year from the same period in 2018, data from brokerage Olshan Realty Inc. show.

The West 28th Street building, with just 39 residences, a robotic parking garage and a private IMAX theater, was one of Hadid’s last projects before her death in 2016. Since sales began that year, there have been 16 completed purchases, averaging about $3,100 a square foot, according to Olshan Realty. At its current asking price, the penthouse works out to $4,341 a square foot.

© Copyright 2021 Bloomberg News. All rights reserved.


Personal-Finance
A three-level penthouse along Manhattan's High Line that's been lingering on the market is now "priced to sell" after getting a 41% price cut, to $29.75 million.
nyc, penthouse, sell, priced
263
2019-58-11
Tuesday, 11 June 2019 02:58 PM
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