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High Line 519 Penthouse is Older, Wiser, Cheaper

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With its floor-to-ceiling windows and cloud-like scrims, architect Lindy Roy's High Line 519 was one of the first bits of rock 'em sock 'em West Chelsea starchitecture to pop up along the train trestle. The handful of units were completed back in '07, and as other developers have rushed to pitch their luxury tents along the High Line?including right next door on 23rd Street?Roy's baby hasn't always gotten along with the neighbors. But this old dog is trying to learn a new trick: Selling high-end real estate in a depressed market. To the best of our knowledge, the building's two penthouses never sold (rented, perhaps). The smaller #PHA, a 1,450-square-foot 1BR, was re-listed in January and is now in contract. The last asking price was $1.625 million, down 30% from its original offering of $2.35 million. Now that the little guy is spoken for, here comes the Best in Show.

#PHB, a 2,665-square-foot 3BR, 2.5BA with plenty of roof deck, hit the market last week for $4.65 million. It had previously been on the market for $5.65 million, so the developers must think the unit has held up better than the other penthouse. Following the 17% drop, the asking price is still a healthy $1,700 per square foot. What sort of perks come with laying out that amount of scratch? Well there's no doorman, but fear not, the super accepts packages. Here's the floorplan to help you visualize the best spots for hurling water balloons once the second section of the High Line opens:


· Listing: 519 West 23rd Street [Corcoran]
· High Line 519 coverage [Curbed]