One57’s First Flip Sees a $3.5 Million Profit Just Five Months Later

Posted On Fri, October 3, 2014 By

Posted On Fri, October 3, 2014 By In Midtown, Recent Sales

The first of what’s sure to be many flips at One57 has just netted its seller a respectable $3.45 million profit, just five months after its purchase. According to NYDN, the former owner, Investor Sso Enterprises, paid $30.55 million for the 58th-floor three-bedroom back in May, now selling it off for $34 million to hedge fund manager Harvey Sandler and his wife.

one57 157 west 57th street 58a

The apartment measures approximately 4,500 square feet and is wrapped in 100 feet of floor-to-ceiling windows looking out onto Central Park, the Hudson, and the East River. A windowed eat-in kitchen features high-end cabinetry by Smallbone of Devizes and top of the line appliances. All three bedrooms boast an en-suite bath. The cornered master suite also hosts a large sitting area, abundant closets and dual windowed marble bathrooms.

one57 157 west 57th street 58a 5

one57 157 west 57th street 58a 3

The unit was originally listed for $40 million, and it’s drop can be accredited to increased competition from the remaining developer-owned units at the building, as well as condos in other super-luxury up-and-comers in Midtown, says NYDN. Although the unit is not the first to go up for resale, it does get to claim fame as the first to sell as one with a tidy profit.

[Listing: One57, Apt. 58A by Noble Black of the Corcoran Group]

[One57 at CityRealty]

[Via NYDN]

Images courtesy of the Corcoran Group

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Neighborhoods : Midtown



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