Billionaire Michael Rubin is in contract to purchase this sprawling penthouse for about $43 million.
The penthouse was on the market for $51 million.
Aby Rosen’s RFR Realty has reportedly purchased the 30-story hotel
The second priciest condo at the Herzog & de Meuron-designed undulating West Village building, 160 Leroy, is now in contract.
The latest from hotelier Ian Schrager promises five-star luxury at a more affordable price point.
In early December last year, the 15-story condo had reached the halfway point, and now it seems just a little over two months later the condo is just three floors from topping out.
As the demand for enormous, ultra-pricey apartments cools off, so too does developers' interest in having $80 million penthouses sitting on the market for months (or even years) on end. And thus, the penthouse at Ian Schrager's 160 Leroy is halved.
Amid a slowing market for uber-luxury apartments, the penthouse of Herzog & de Meuron's West Village condo has been divided into two less pricey apartments. Other units in the building were also trimmed and reconfigured into more affordable condos.
Ian Schrager held a groundbreaking ceremony on Thursday at the site of his West Village building. The sales reps for the building announced that the development had sold about 60 percent of its units.
Ian Schrager has made an impressive career boosting the boutique hotel movement and developing multimillion dollar apartments, but now the jack of all trades says that too many rich people in NYC is not a good thing. He's suggested a fix, too, although it may be flawed.
The future site of Herzog & de Meuron's luxury condo has been razed in preparation for construction. The building is expected to be complete in 2017.