As the demand for enormous, ultra-pricey mega-mansions cools off, so too does developers' interest in having blockbuster apartments sitting on the market for months (or even years) on end. And so we end up with slightly smaller, slightly less expensive apartments, like the two recently listed units at 10 Sullivan—originally, they were to be a $45 million triplex, but now they're two separate units asking $28 million and $11.5 million.
Ian Schrager's wavy condo at 160 Leroy Street is another development where the high-end penthouse—in this case, what would have measured 12,000 square feet and asked $80 million—has been chopped up into smaller units. One of those, the south penthouse, just hit the market today asking $29.5 million; the nearly 4,900-square-foot pad comes with 2,616 square feet of outdoor space, along with 13 "art walls" and panoramic views.
And while it's no 12,000 square foot mansion, this place is nothing to sneeze at: The "great room" and master suite are both bigger than most peoples' apartments (at 920 and 800 square feet, respectively), and there are two kitchens—one outdoor—private elevator access, and a wood-burning fireplace.
[Update: the second half of the original penthouse, a 7,750-square-foot spread asking $48.5 million, hit the market shortly after.]
- Listing: 160 Leroy PHSouth [Elliman]