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Woolworth Building’s $110M Penthouse Hits The Market

The property is NYC’s most expensive home for sale on the market right now.

By Nagidmy Marquez September 21, 2017
ILLUSTRATION: WILLIAMS NEW YORK VIA WSJ

Woolworth Building’s $110M penthouse hits the market. Are you ready? The 9,710-square-foot apartment will try to beat the current $50.9 million sales record for a unit at Chelsea’s Walker Tower (sold in 2014)- a 5,955-square-foot, five-bedroom, 5½-bath apartment that takes up the entire 24th floor.

For years, this unit has been one of the most talked listings in NYC, and according to the Wall Street Journal, the Woolworth Building’s penthouse, dubbed “the pinnacle”, is finally for sale. So if the penthouse is sold for its asking price (or anywhere near to it), it will hit another record. By far, the property is NYC’s most expensive home for sale on the market right now.

Related: Update: The Top US Cities With The Best Chance To Host Amazon’s HQ2

 

The Woolworth Building has a long history of records. For example, from 1913 until 1930, the neo-Gothic skyscraper, designed by architect Cass Gilbert, was the world’s tallest building. The penthouse for sale is at the very top of it. It starts at 700 feet up and is contained within the building’s pointed, green, copper-clad peak.

“There are views in every direction, from the World Trade Center to the New Jersey skyline, and there is an approximately 400-square-foot open observatory with 360-degree views.” (WSJ)

The penthouse features 24-foot ceilings and a private elevator. It first went on the market in 2014, but no buyers went for it. “It was last on the market a few years ago at the same price,” top broker Dolly Lenz told The Post. “It’s a spectacular building, with a great renovation and a fabulous penthouse. While it is bullish on its price, it will find its level.”

In 2012, Alchemy Properties bought the top 30 floors for $68 million from Witkoff and Schron’s Cammeby’s International, and announced plans to convert it into 33 condos. The lower levels of the building are still leased for commercial use. The residents have access to all amenities: a spa, a fitness studio and a wine cellar and tasting room. This also includes, taking a little swim in Mr. Woolworth’s private basement pool.

There is not much information regarding sales, Alchemy has been cautious about providing the status of it. From the current availability, the prices range from $4.57 million (one-bedroom) to $26.4 million (four-bedroom).

According to the WSJ, local agents said sales have been slow at the building, but Ken Horn, the founder and president of Alchemy Properties commented that activity picked up starting in the spring. Stan Ponte and Joshua Judge of Sotheby’s International Realty are handling sales at the building.

Nagidmy Marquez

ABOUT THE AUTHOR Nagidmy Marquez

ABOUT THE AUTHOR Nagidmy Marquez

Nagidmy is a global communications strategist with more than 13 years of experience in the creation, curation and implementation of strategic content and integrated communications practices. She has worked across different regions and cultures of the world including: United States, Latin America, Europe and the Middle East. She is a Mafalda and Don Quixote lover.

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