The war of the megatowers is on. Yu-Ting and Yu-Wen Huang, former residents of a 69th-floor two-bedroom in the Residences at the Mandarin Oriental at Time Warner Center, have jumped ship for a 50th-floor apartment in One57, for which they paid $19.1 million. The sale hit public records today. The Huangs paid $6.1 million for their Mandarin apartment in 2010 and briefly relisted it later that year for $7.65 million. It was delisted in short order and has yet to be put back on the open market.
While this is far from the most exciting sale so far in One57, it could cause some anxiety for the most expensive super luxury towers of yesteryear, which, even with demand seemingly as high as can be, have to be worried about losing millionaire condo shoppers to all the new construction. Even before this sale closed, the brokers representing the Time Warner Center Penthouse — which no one seems to want for $68 million, let alone $90 million — were sounding a little defensive, including phrases in the listing such as "can be occupied immediately, not years from now," and "in a better location than any new construction." Looks like they're worst fears could be coming true.
· One57 condo goes for $19M [TRD]
· One57 coverage [Curbed]
· Residences at the Mandarin coverage [Curbed]