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William Beaver House Condo Loses $200k in Two Months

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A December sale in everyone's favorite gold-flecked FiDi party palace caught our eye: #22C at William Beaver House?an 832-square-foot 1BR, 1BA condo in the André Balazs-developed building?sold for $800,000 to a Madrid-based buyer, nearly 23% off its $1.035 million asking price. It was a double shock: The rare sub-$1,000/sf sale for a slice of new Manhattan ultra-luxury, and one of the biggest listing price discounts the building has seen to date. That's when things got really interesting. The transaction was actually a resale, though there are plenty of sponsor units still available. The previous owner, an LLC with an address in West 12th Street's Century Towers, closed on the apartment in October for $1,200/foot, or $999,000. At the time maybe that seemed like a good deal, because the apartment had been listed for $1.257 million. So, #22C at Willy Beav sold for nearly $200,000 less than it was purchased for just two months prior. Every individual apartment sale has its own unique circumstances, but clearly this signals the end of the world.

· Sold on 12/17/09: 15 William Street #22C [Natefind]
· William Beaver House coverage [Curbed]

William Beaver House

15 William Street, New York, NY 10005