Massive penthouse in the Woolworth Building’s iconic copper ‘Pinnacle’ lists for $110M

Posted On Wed, September 20, 2017 By

Posted On Wed, September 20, 2017 By In Cool Listings, Financial District

Rendering of the Pinnacle via Williams New York

When the neo-Gothic Woolworth Building was erected in 1913 as the world’s tallest building, it cost a total of $13.5 million. Now, 104 years and a partial condo conversion later, its massive, seven-story penthouse has hit the market for an exorbitant $110 million. The Wall Street Journal first got wind of the not-yet-public listing, which could be the most expensive sale ever downtown, far surpassing the current $50.9 million record at Chelsea’s Walker Tower. Dubbed the Pinnacle for its location in the 792-foot tower’s iconic green copper crown, the penthouse will encompass 9,710 square feet and boast a private elevator, 24-foot ceilings, a 400-square-foot open observatory, and views in every direction, from the World Trade Center to New Jersey to the East River.

woolworth building penthouse floor plan, woolworth penthouse floor planPrevious penthouse floorplan © The Real Deal via the Attorney General’s office

Details about the penthouse first came to light more than three years ago, when Alchemy Properties revealed that they’d be pricing their “castle in the sky” for $110 million. Just a couple months later, the jaw-dropping price was approved by the New York Attorney General’s office, making it one of the most expensive downtown listings ever at $11,700 per square foot. The approval came with a set of floorplans (which may have been preliminary) that showed how the residence could be laid out from its 50th-floor start at 700 feet up to the 58th floor. However, Ken Horn, Alchemy’s founder and president, has now told the Journal that the interior is still raw, so potential buyers can customize the number of bedrooms and bathrooms.

Horn also explained the unique challenge of converting this historic topper to residential use, as it formerly housed the mechanical equipment that serviced the offices below. Because of a lack of windows, the crown didn’t meet the city’s light and air requirements. Therefore, Alchemy received approvals from the Landmarks Preservation Commission to expand existing windows and add six new ones, as well as replace 3,500 pieces of damaged terra-cotta on the facade. “This could never be built again. Well it could, but it would cost an obscene amount of money since no one builds terra-cotta buildings anymore,” explained Horn.

Woolworth Tower Residences, Woolworth Building Unit 31A, listed for $26.4 million

Alchemy bought the building’s top 30 floors in 2012, converting them to 33 condominiums. Sales first launched in 2014, with prices ranging from a $3.5 million 1,209-square-foot unit to a $26.4 million 6,000-square-foot full-floor spread with a terrace.

Amenities include a spa with sauna and hot tub, restored basement pool (which was once the private pool of Mr. Woolworth himself) fitness studio, and wine cellar.

[Via WSJ]

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All renderings via Alchemy Properties unless otherwise noted

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Neighborhoods : Financial District

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