Ben Shaoul’s asking price for a penthouse in the former Verizon building on 140 West street is a steep $100 million, but he thinks it is worth every dime. According to the RealDeal, Shaoul said, “I’ve seen some exceptional apartments, but I’ve never seen anything like this one.”
Shaoul is one of five developers selling penthouses for $100 million or more; a penthouse in the Woolworth building is priced at $110 million. While one penthouse at the Baccarat Hotel and Residence is a mere $60 million, it sells at a 37% premium to the penthouse just a floor below.
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Money is no object for some buyers, according to JDS Group’s Michael Stern. At some wealth level, price is not a major consideration. Stern says, “When you get to a certain level, the buyer is not worried anymore about price per square foot. It’s about other things, such as how exclusive and unique the apartment is.”
