The 15 Central Park West dream team?developers Arthur and William Lie Zeckendorf, architect Robert A.M. Stern?reunited for 18 Gramercy Park, a luxury condo makeover of a former hotel and Salvation Army property. They hoped to repeat 15 CPW's success with sky-high prices, and while we scoffed at the $42 million asking price for the building's 5BR duplex penthouse, apparently we laughed too soon. A buyer is in contract for the full $42 million, the Journal reports. Appraiser/Curbed graph guru Jonathan Miller confirms that that will be the highest price ever paid for an apartment south of 59th Street, assuming the deal closes without a hitch.
The developers haven't said much about who the penthouse buyer is, except that he or she is American?as are all eight of the buyers so far in the building. The penthouse owner will be getting two pools and four terraces?and, of course, a key to Gramercy Park for the first year of ownership. A $350 value!
· Gramercy Park Condo Goes Into Contract for $42 Million [WSJ]
· There Will Be a $42 Million Penthouse at 18 Gramercy Park [Curbed]
· 18 Gramercy Park coverage [Curbed]