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One 57 becomes home to Billionaire’s Row’s first foreclosure

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An auction is slated for next month

An ultra-luxury milestone! Billionaire’s Row is about to get its very first foreclosure, the New York Post reports.

A “stunning” apartment on the 56th floor of Extell’s 157 West 57th Street will be the “first high-end condo to go into foreclosure” on the notoriously expensive street, Khashy Eyn, CEO of Platinum Properties told the Post.

An unnamed buyer who “shielded his identity behind an LLC, Central Park Immobilier,” picked up the four-bedroom, four and a half bath unit back in 2015 for a comparatively modest $21.4 million—One57 also boasts the city’s most expensive sold condo—but it appears things didn’t go quite as planned.

The sleek abode with Central Park views is now back on the market for $22.5 million, where it has sat, unmoving, for the last 547 days. According to an anonymous source of the Post’s, there have been offers, but the mysterious seller has rejected them as “not high enough.”

Perhaps an unwise calculus, as there is now a lien on the property for $20.9 million “plus interest and costs.” A foreclosure auction for the sky-scraping unit is slated for June 14th.


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