A penthouse apartment on the top floor of the Ritz-Carlton, Battery Park will try to find its next buyer at the auction block. The Wall Street Journal reported this week that the four-bedroom pad is scheduled for an online auction later this month, and it will be launched at an event in Hong Kong designed to encourage Asian investments in New York’s high end real estate.
The current owners paid a little over $4.78 million for the 4,293-square-foot duplex condo in 2005, according to the Journal. It failed to sell after that, with four different New York brokers trying eight different prices since 2014. The ask has ranged from $23 million down to the current price of $14.495 million.
At one point, the owners teamed up with their neighbors to offer it as part of a three-unit potential penthouse combo asking a whopping $118.5 million. This unit, in particular, was marketed as one of the best in the building, with a 50-foot terrace and glass-walled living room looking out toward the Statue of Liberty.
The auction will kick off on June 28th with no minimum and no reserve price. An open house will happen June 14th, with marketing materials in both English and Mandarin. (Open houses will also be available daily by appointment.) This is one of 18 properties that Concierge Auctions plans to auction at once, in the firm’s first marketing campaign aimed toward Chinese buyers.
The penthouse’s broker told the Journal that “the auction in Hong Kong made sense because the Battery Park City area has already attracted many Asian buyers.” Non-Chinese buyers will also be able to participate in the auction through a mobile bidding app.