Following a turbulent eight years since launching gross sales, Witkoff Group and Entry Industries’ One Excessive Line has discovered a purchaser for its last penthouse.
The apartment at 500 West 18th Road, asking $26.6 million, was the priciest of 35 properties in Manhattan asking $4 million or extra to snag signed contracts between June 8 and June 14, in accordance with Olshan Realty’s weekly report.
The entire was on par with the previous period, when patrons inked offers for 36 properties.
West PH35B is one in every of 12 penthouses on the West Chelsea improvement, 10 of which have already closed for a mean of $4,800 per sq. foot.
The apartment, which was shopped at $26 million from flooring plans in 2018, spans greater than 5,000 sq. toes and has 4 bedrooms and 4 loos. It additionally options two loggias, a nook nice room and views of the Hudson River.
The 2-tower venture was initially referred to as the Xi when its former developer, HFZ Capital, started advertising and marketing it in 2018. Witkoff and Entry took over the event in 2021 after a lender foreclosed on HFZ’s stake. Since then, the constructing has surpassed $1 billion in gross sales, and earlier this yr, it snagged $525 million in refinancing.
A workforce with Corcoran Sunshine, led by Steve Gold, heads gross sales on the 236-unit venture.
The second costliest house to discover a purchaser was a duplex co-op at 730 Park Avenue, with an asking value of $22.6 million. The condo final traded in 2014 for $19.4 million.
Unit 10C/11C has drifted on and off the market since 2020, when it was listed for $42 million. The condo has six bedrooms and eight loos. It additionally includes a hearth, library, eat-in kitchen and 21-foot ceilings.
Facilities on the constructing embody doormen and a health heart.
Douglas Elliman’s Lauren Muss and Jamie Mitchell had the itemizing, together with Adam Modlin of the Modlin Group.
Of the 35 properties to enter contract, 18 had been condos, 13 had been co-ops, two had been condops and two had been townhouses.
The properties had been priced at a mixed $299 million, which works out to a mean of $8.6 million and a median of $6 million. The everyday house was available on the market for almost two years and was discounted by 12 p.c.
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