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Did a Sky Garage Penthouse Really Sell For Only $7.6M?

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Penthouse 1 in Annabelle Selldorf's West Chelsea Sky Garage was actually listed last September as part of a penthouse combo asking $16.5 million, then again on its own for $12.475 million this January, then for a third time less than a month ago for $12.95 million. None of this is particularly out of the ordinary. However, when the listing was taken down and put up again yesterday, the new listing revealed a new detail that the previous ones had not. Apparently, the apartment changed hands last July, two months before the story came out about the building's sponsor/developers deciding not to move in after all, and the sale price was a meager $7,600,000. $7.6 million! A pittance! It's unclear who the seller and buyer were, as the deed was transferred between two LLCs using the same address, but if this is the kind of discount you get for being a sponsor/developer, well, do you think they're looking for interns? The apartment is now listed for a much more reasonable $12,950,000, making it the cheapest Sky Garage penthouse by a margin of about $3 million, but never fear: you still get a bedroom for your car.

· Listing: 200 Eleventh Avenue #PH1 [Elliman]
· 200 Eleventh Avenue coverage [Curbed]

200 11th Avenue

200 11th Avenue, New York, New York