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Condo at 111 West 57th St at Top of High-End NYC Luxury Deals

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By Ellen Cans

A luxury condo on the 53rd-floor at 111 West 57th Street was at the top place of last week’s list of high-end Manhattan luxury deals.  As reported by the Real Deal, the contract was one of 16 signed last week for Manhattan residential properties asking above $4 million, down from 27 deals sealed the week before.  Of the deals, however, seven properties were asking over $10 million— the most deals made in that price range weekly since before the pandemic hit in March.

The in-contract 4,183-square-foot condo at the JDS Development, has three bedrooms, three and a half bathrooms and views of Central Park.  While the buy price has not yet been disclosed, the last asking price was $26.5 million.  The buyers are a married couple, both real estate developers, who already own a pied-à-terre in New York City and are now upgrading, as per the Olshan Realty market report.  The couple flew into New York for two days from Aspen, Co to look at some residences, said Sotheby’s International Realty broker Benjamin Pofcher, who represented the couple along with Nikki Field.  “They sensed the timing was right to get a deal and they got one,” said Pofcher.

The landmark building in Billionaires’ Row, which soars 1,428 feet high, was formerly the 1929 Steinway Hall which was just overhauled.  The building, which is known as the “tallest, most slender skyscraper in the world”, offers concierge service and 24-hour doormen, meeting rooms, a lounge with an outdoor terrace, a fitness center, an 82′ lap pool with private cabanas, a sauna and treatment rooms.

The next top deal on last week’s list of pricy residential contracts was unit 27 at 50 Central Park South.  The home was last asking $24.5 million, after reducing the price down from $39.5 million when it was listed around two years ago.  The unit is one of just twelve Ritz-Carlton residences, at the former site of the landmark St. Moritz Hotel.  The home has two bedrooms and three terraces.   The 6,829-square-foot, full-floor unit is currently owned by film producer and philanthropist Sidney Kimmel, a 93-year-old billionaire whose movies include “Crazy Rich Asians” and “Moneyball”.  He and his wife Caroline had purchased the home in 2001 for roughly $29 million.  “Most people felt they would gut the entire apartment,” said Douglas Elliman broker Steve Cohen, who represented the seller. “I think we had the right buyer and I communicated with enough brokers to know there was a deal to be had here.”


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