New York Penthouse Asks $47.5 Million | Cross River Real Estate
A New York penthouse is slated to go on the market Friday for $47.5 million, according to the project's developers.
Called Penthouse Two, the 6,515-square-foot, five-bedroom, 5½-bath apartment is on the 23rd floor of Manhattan's Walker Tower, an Art Deco office building that was converted to condos by JDS Development Group and Property Markets Group.
Penthouse Two has three wood-burning fireplaces and a 463-square-foot terrace. The ceilings are about 12-feet high and there is radiant heated flooring, said JDS founder Michael Stern. It also has a cast-iron bathtub that looks out over lower Manhattan and the Statue of Liberty.
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Penthouse Two is one of three units left for sale in the building, which also has a roof deck, doorman and concierge, and a fitness center with yoga room and sauna.
The apartment is larger than the unit above it, Penthouse One, which made headlines last month when it went into contract for more than $50 million. If it closes at that price, it would set a record for the priciest condo sale in downtown Manhattan. Penthouse One went into contract after being on the market for about a month, according to Vickey Barron, director of sales at Walker Tower and an associate broker at Douglas Elliman. The developers declined to identify the buyer.
The developers are hoping for an equally speedy sale for Penthouse Two. "We saw very strong demand" for Penthouse One, Mr. Stern said. "The expectation is that some of those interested parties will take an interest in this one."
The tower, at 212 West 18th St. in Chelsea, was designed by architect Ralph Walker and completed in 1929 as an office for the New York Telephone company. The partners purchased the building in 2009 from then-owner Verizon, said Elliott Joseph, a principal at Property Markets Group, and conducted an extensive renovation. He added that his firm was attracted to the project because of the building's high ceilings and Art Deco details, such as nickel-and-bronze sunburst designs over the entryway and nine different shapes of brick.
The building is still under construction, and Ms. Barron said buyers are expected to start moving into their units next month.
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