Penthouse at Zaha Hadid’s High Line condo sells for $20M, a 60% cut from original asking price

Posted On Fri, October 2, 2020 By

Posted On Fri, October 2, 2020 By In Chelsea, Recent Sales

Photo by Tim Fisher, Courtesy of Related Companies

The triplex penthouse at late architect Zaha Hadid’s High Line-hugging condo building has sold for just over $20.2 million, a significant price cut from its initial asking price of $50 million in 2016. Penthouse 37 at 520 West 28th Street measures 6,853 square feet and boasts a massive private rooftop terrace with a glass-walled lounge and enough space for 100 guests. As the Real Deal first reported, the buyer of the apartment is Wesley Edens, co-founder of private equity firm Fortress Investment Group and co-owner of the Milwaukee Bucks.

Since it was first listed in 2016, the penthouse has come on and off the market. It returned to the market in 2018 for $50 million and in 2019 for $39.5 million and later, $29.75 million. Related Companies and the Corcoran Group last listed the property at $24.9 million, or $38.925 million as a combo unit with the neighboring apartment. According to city property records, Edens paid $20,207,500 for the unit, $2,947 per square foot.

The 11-story, 39-unit condo, Hadid’s first ground-up building in New York City, first launched sales in 2015 with much anticipation. Fourteen units sold in 2017, two in 2018, and two in 2019.

This year, despite the coronavirus pandemic, five units have sold so far, including Edens’ purchase last month. According to CityRealty, all of the apartments sold for less than their asking price.

The home’s three floors and rooftop terrace are connected by a sculptural staircase, an incredible architectural centerpiece. Four of the five bedrooms are located on the lower level, with the master suite boasting a dressing room and a balcony. The eat-in kitchen’s marble-clad island with Gaggenau appliances was designed by Hadid in collaboration with Boffi.

The private rooftop terrace measures 2,218 square feet, features a glassy lounge, and has views of the High Line and Empire State Building. Building amenities include a private IMAX theater, a 75-foot sky-lit lap pool, a landscaped courtyard, a spa suite, and automated robotic parking.

[Listing details: 520 West 28th Street, PH 37-39 at CityRealty]

[At The Corcoran Group by Peter Zaitzeff, Julie Pham, and Steve Gold]

RELATED: 

Tags : , , ,

Neighborhoods : Chelsea

MOST RECENT ARTICLES

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.
Archtober2020