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Once Asking $95M, Sherry Netherland Co-op Sells for $67.5M

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The 18th floor of the Sherry Netherland—which sold for "just" $67.5M, according to public records filed today—had such high hopes when it first hit the market back in September 2012. With a $95 million asking price, it was poised to become the most expensive home ever sold in New York City, topping the $88M sale at 15 Central Park West and easily besting the then-record for the most expensive co-op. At the time, it was the fourth listing to join the $95M+ echelons. But then everything went kind of batshit crazy.

Seemingly every new development announced a $100M+ listing, the record for the most expensive co-op was broken twice last year, and an apartment in One57 sold for $100 million. The 18th floor of the Sherry Netherland started to realize that oh hey, maybe it is not worth $95M, and the price was lowered to $85M last October. The number still would have broken the co-op record, but apartments at 960 Fifth Avenue, 740 Park Avenue, and now 834 Fifth Avenue beat it to that record, which is now $77.5 million. So the $67.5M of the Sherry Netherland's 18th floor breaks no major records at all, and is even less than previously reported. The only title it does take is the priciest apartment ever to sell in the Sherry Netherland.

· Sherry Netherland's Priciest Apartment Finally Sells for $70M [Curbed]
· $77.5M Fifth Avenue Pad Is NYC's Most Expensive Co-op Ever [Curbed]
· All Sherry Netherland coverage [Curbed]


781 5th Avenue, New York, NY 10019