Gary Barnett’s Extell Development has sold the penthouse at The Carlton House located at 21 East 61st Street for $52 million, The Real Deal has reported. It is also “raking in the profits” from its year old acquisition of the 14 building Ring Portfolio, according to Real estate Weekly, which it sold for $20 million.
Extell was forced to take a huge price cut on the penthouse at the Carlton House which originally had an asking price of $65 million. The $52 million that the firm got represents a 20% drop in price.
The duplex penthouse has 6 bedrooms and over 8, 988 square feet.
Designed by Beyer Blinder Belle, The Carlton House offers 68 luxury co-op residences ranging from 2 to 6 bedrooms over 16 stories. The limestone and brick exterior of the building was preserved and restored to its original appearance. It apartments feature finely crafted wide-plank white oak floors, custom kitchen cabinetry, and decorative details fabricated from natural materials.
It is located by Madison Avenue on Manhattan’s Upper East Side.
Residents enjoy the services of a uniformed doorman and concierge and a dedicated lifestyle consultant who is available to assist them with a range of personal needs. There is also a state of the art fitness center, a 65 foot heated indoor swimming pool, steam rooms, a game room, bicycle storage, as well as refrigerated storage in the lobby
Its website describes The Carlton House’s interiors thus: “Created by Katherine Newman Design, interiors reinterpret the finest aspects of the early 20th century Art Deco and Moderne movements for the 21st century. Residences done in one of two palettes – Pearl or Mink – bring a luxurious sensibility to modernism with a rich selection of natural materials.”
Meanwhile Extell has sold the first building in the Ring Portfolio located at 34 West 17th Street for $20 million. The office building holds 25, 000 square feet of space over 10 floors.
Eastern Consolidated’s Ron Solarz represented Extell in the deal.
The building’s new owners, real estate investment firm Atkins & Breskin, is expected to convert the property into luxury condominiums.
Gary Barnett took over the Ring Portfolio a little over a year ago when it paid $308 million for Frank Ring’s controlling share.