Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Penthouse at Gary Barnett’s One57 Goes for Record $100 Million

048-049 One57 se FINAL.indd

A penthouse at Gary Barnett’s new luxury apartment building One57 at 157 W. 57th St in Manhattan has sold for a record $100.47 million. The buyer chose to remain anonymous.

The record is for the highest amount ever paid for a single family property in the history of New York City. The previous record was just $88 million which was paid for a condo at 15 Central Park West in 2011.

The penthouse occupied the building’s entire 89th and 90th floors and overlooks Central Park from its west side. It has six bedrooms, seven bathrooms and two powder rooms over 11, 000 square feet.

Ben Benalloul of brokerage RLTY NYC told the New York Daily News, “This is going to set a new benchmark for real estate in New York, especially in new developments. I think this is a record we’re going to see broken several times over the next two years.”

The 90 story tower has 94 units, cost $1.4 billion and took 10 years to build. Barnett, for his part, put up only 10% of the $700 million in equity needed for the deal. The rest came from funds from Arabian Gulf States.

Building amenities include access to a health club with a pool and a spa, a five-star restaurant, a library, a screening room and attended parking.

There are 21 storage bins in the building’s basement that go for up to $4, 000 a square foot. A 54 square foot storage been goes for $216, 000. This is considered unprecedented in a city where such luxury apartments come with basement storage space.

There are 30 square foot storage bins that will cost $110, 000, or $3, 667 per square foot.

One57 has strict rules regarding pets. Only 2 are allowed per apartment and are limited to animals like dogs, cats, caged birds and aquarium fish. There are also security measures for the pets as residents will be required to provide pictures of them to the condo board so that they can be identified. No visitors to the building will be allowed to bring their pets in with them.

Residents also have to live with strict rules regarding decorations. Any external ornamentation will have to be approved by the condo board and no special lighting will be permitted at holiday time. Even curtains, which can be seen from the outside, must get approval.

1 Comment

1 Comment

  1. melbrandle

    February 19, 2015 at 8:45 am

    Look at that amount of space! It looks more like an office than a residence! I know that this is just a rendering of the apartment but it’s quite unbelievable since there are hardly any storage cupboards or personal effects lying around..

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


Now Platika joins and elite club of $10 billion plus Israeli firms.