NoMad’s Trophy Penthouse: 212 Fifth Avenue Goes Lateral Adding 3,000 Square Feet for Exclusive Rooftop
While the rest of us are knocking elbows in our glorified matchboxes, 212 Fifth’s triplex penthouse is spreading sideways, growing out by almost 3000 square feet of space.
When New Yorkers complain about the city running out of living space, you know it’s nothing more than frustrated rumblings of the working class. A high-end buyer looking at the listing of 212 Fifth Avenue penthouse is about to find out just how much space there really is on this tiny island in the western hemisphere. The developers of this iconic neo-Gothic building are not cutting corners with their trophy penthouse. While the rest of us are knocking elbows in our glorified matchboxes, 212 Fifth’s triplex penthouse is spreading sideways, growing out by almost 3000 square feet of space.
If there’s a one thing that developers, Madison Equities and Thor Equities, are sure of, it’s that the rooftop of an NYC luxury residential tower holds some serious cachet for the high rollers. So they recently decided to alter the blueprint for the building’s triplex penthouse to give the owners exclusive access to a sprawling outdoor space. With an extra 3000 square-feet thrown in, the penthouse now measures a total of 16,000 square-feet making it a “spectacular, singular, trophy penthouse,” according to owner of Madison Equities, Robert Gladstone.
In the recent past, property owners have in fact done the opposite—splitting large condo units to keep up with the descending luxury market. In fact, Madison Equities adopted the same divide-and-sell policy for its triplex penthouse at 10 Sullivan Street, chopping an 8,400-sq.ft unit into two to get the sales moving. When it came to 212 Fifth Avenue however, their motto was ‘bigger is better’. Gladstone wanted to stick to the traditional penthouse format. Explaining the strategy behind the reconfiguration, he said “Historically, the finest penthouses in the world had a few things in common, they were at the ultimate, there was no one above them. If we cheapened it and made it more like everyone else’s, I think we would have lost market share.” The triplex will take up the entire 22nd floor-entry level, with the 23rd and the 24th stories along with the coveted roof terrace.
And if you thought the idea of a triplex penthouse with its own rooftop to itself was totally bonkers, wait till you hear all the other fringe benefits. A part of the 5,000 square-foot-plus outdoor space will be hidden to keep the pesky paparazzi from going shutter-happy. The prospective owner will also be able to build a private swimming pool and plant trees for extra privacy. The triplex penthouse will have postcard views of the Empire State Building and the Manhattan skyline. The condo’s common amenities include a fitness center, a golf simulator, a screening room and a catering kitchen.
Wonder what’s the price tag on this decadence? They’re yet to put a price on the property but with the current price per-square-foot in Manhattan, it’s estimated to cost well over $40 million. While the triplex awaits its preliminary showings this fall, nine units in this 24-story NoMad condo are already available with two-bedrooms going for $4.7 million and four-bedrooms for $16.6 million. A 19th floor residency featuring five bedrooms and six bathrooms is already under contract for $28.4 million.
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