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$50M Time Warner Center penthouse sells at an $11M loss

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The huge penthouse was asking $50 million

One of New York City’s most expensive apartments is no longer: the penthouse atop the Mandarin Oriental Hotel at the Time Warner Center is officially off the market. And unsurprisingly, it sold at a loss—the apartment, listed for $50 million as recently as November, closed for $38.9 million, according to the Real Deal. For those keeping track, that’s a 22 percent discount, punting it pretty far down the list of the city’s priciest homes.

Also not a shocker: the buyer is shielded by an anonymous LLC, with the oh-so-clever name of 80CC77B, INC. The seller was Red Cherry Worldwide Inc., which, as TRD notes, is linked to Zentek Technology founder Shozo Ohtani. It went through a series of price ups and downs over the year, listing first for $35.5 million in 2010; $42.5 million in 2012; and then $50 million in 2015.

As for the apartment itself, it’s a 4,825-square-foot corner unit, with “65 linear feet on Central Park and jetliner views from all rooms.” And since there are no listings photos, those stellar photos are the only thing we have to go by when judging the space—well, that, and the floorplans below.

Time Warner Center

10 Columbus Circle, Manhattan, NY 10019 Visit Website

Mandarin Oriental Hotel

80 Columbus Cir., New York, NY 10023