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Flank's Nolita Condos Sell Out With $21M Penthouse Purchase

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The penthouse at the coveted 224 Mulberry Street has sold for $21 million, Curbed has learned. It was the priciest sale of the week for the neighborhood when it went off the market post-Thanksgiving, according to CORE, who handled the sales and marketing for the development. The owner who shelled out the big bucks is Stephen Zide, according to property records, a senior advisor at Bain Capital (of Mitt Romney fame).

The duplex apartment has four bedrooms spread out over 5,646 square feet of space, along with an astonishing four private terraces that offer views of the downtown bridges and One World Trade Center on the south side and the Empire State Building and the Chrysler Building to the north.

Some of the other highlights of the apartment include custom-designed marble countertops in the kitchen, two wood-burning fireplaces, and a cast-iron bathtub in the master bedroom's en-suite bathroom.

Designed and developed by Flank, 224 Mulberry Street has six units throughout its eight floors. Amenities include a 24-hour concierge, a rooftop terrace, and a fitness center. Construction started in the summer of 2013, and sales launched the following January. Most units had sold out within six months of the launch. The penthouse was the final unit to sell at the development. The average price per square foot in the building is $3,115—which is fully 27 percent higher than the neighborhood average of $2,259, according to CORE, and the highest price per square foot in the neighborhood for a sold-out new development. The penthouse, which was originally listed for $23.75 million, sold for almost $3 million below its asking amount.


· Listing: 224 Mulberry Street #PH [StreetEasy]
· All the 224 Mulberry Street Coverage [Curbed]