A 58th floor condominium apartment on New York City‘s Billionaires’ Row which offers sprawling views of Central Park and was purchased for $34million back in 2014 has now been sold for at least $12million less.
The 58A residence at 157 West 57th Street was most recently listed at $22.5million – down from $24.8million in March.
The identity of the buyers and the sellers were not announced while the exact purchase price is not known, according to the Olshan Luxury Market Report.
A condominium on the 58th floor of the One57 building at 157 West 57th Street in New York City has been sold after it was listed for $22.5million
The residence offers sweeping, unobstructed views of Central Park as well as the New York City skyline
The image above shows the formal dining area at apartment 58A at One57 on Manhattan’s Billionaires’ Row
Residents also have a sweeping view of Central Park West, the Hudson River, and New Jersey
The view eastward offers a glimpse of West 57th Street and the Manhattan skyline toward Fifth Avenue and Central Park East
The property is just a stone’s throw away from Central Park. The park is seen left alongside Central Park East and the Manhattan skyline
The apartment of West 57 Street is located on Billionaires’ Row, a section of Manhattan that is home to some of the wealthiest people in the world
The buyers were described by their representatives as ‘New Yorkers, an older couple whose kids are grown and they were looking for a deal.’
‘It will be a quick closing,’ said Ryan Serhant of Nest Seekers International, a luxury real estate agency based in Manhattan which handled the sale on behalf of the owners.
‘It’s a tough deal for the seller and a great deal on the buy side.
‘It’s an opportune time and probably a short window when you can buy trophy properties at a discount.
‘This is the most demand I have ever seen in New York City for properties over $10million since I’ve been in business.’
The master bedroom includes wall-to-ceiling windows that offer unobstructed views toward Lower Manhattan
The master bedroom also has plush wall-to-wall carpeting, custom millwork, and Silver ‘Chinoiserie’ wallpaper
Room with a view: The master bedroom also has an unobstructed view of the New York City skyline
The owners sold the property at a loss of at least $12million after buying it for $34million at the height of the Manhattan luxury real estate boom in 2014
Visitors to the apartment walk through a large foyer that leads to a big salon
Nest Seekers started out in 2008.
As for the buyers, Serhant told CNBC: ‘They’re local. They’re excited about the prospect of buying a trophy home at a discount.’
The three-bedroom, four-baths property was purchased by the owners in 2014 for $34million. At the time, New York City’s luxury real estate market was booming.
The number of properties sold for more than $5million that year was up 26 per cent compared to 2013. In 2014, a total of 757 home sales in Manhattan with a price point of at least $5million were consummated.
That same year, a property inside 157 West 57th Street sold for more than $100million.
But the housing market in New York has been battered this year by the ongoing coronavirus pandemic, the surge in violent crime, the worsening quality of life citywide, the depressed economy, and the exodus of residents who relocated to the suburbs.
The image above shows a bar area on the right as well as a formal dining area to the far left – with views of Central Park through wall-to-ceiling windows
The property at One57 includes amenities such as a powder room, custom bar, entertainment center, and a ‘smart’ home automation system that operates custom lighting, audio-visual equipment, and shades
The interior designer Thomas Juul-Hansen worked his magic inside the apartment, which includes an eat-in chef’s kitchen equipped with a top-of-line Miele and Sub-Zero appliance set
The formal dining area includes a dining table and chairs with breathtaking views of the city in the background
In March, the selllers listed the property for $24.8million but were forced to slash the asking price even further
The marble master bathroom has a custom vanity, soaking tub with views of the city, heated floors, and a separate steam shower
The soaking tub is seen above. It offers unobstructed views of the city
The image above shows one of the other bathrooms in the property
In July, residential real estate sales plummeted 40 per cent compared to 2019. In August, sales fell 57 per cent compared to the previous year.
Commercial real estate in New York City also fell this year compared to 2019.
The property at One57 includes amenities such as a powder room, custom bar, entertainment center, and a ‘smart’ home automation system that operates custom lighting, audio-visual equipment, and shades.
The 4,483sqft apartment offers incredible views of Central Park and New York City.
Visitors to the apartment walk through a large foyer that leads to a big salon.
The entertainment area alone measures 58ft with 12ft ceilings as well as floor-to-ceiling windows that offer unobstructed views of Central Park and the Manhattan skyline.
The interior designer Thomas Juul-Hansen worked his magic inside the apartment, which includes an eat-in chef’s kitchen equipped with a top-of-line Miele and Sub-Zero appliance set.
The set comes with a dual refrigerator-freezer as well as stovetops, wall ovens, dishwashers, a wine cooler, a convection oven, and a drawer-style microwave.
Diners can eat their breakfast in a specially designated breakfast area or on the waterfall marble kitchen island – all while enjoying the open views of Manhattan.
The large master bedroom offers views toward Lower Manhattan and the Hudson River. It includes two en-suite baths – each equipped with a corresponding dressing area and a custom-designed walk-in closet.
The marble master bathroom has a custom vanity, soaking tub with views of the city, heated floors, and a separate steam shower.
The master bedroom also has plush wall-to-wall carpeting, custom millwork, and Silver ‘Chinoiserie’ wallpaper.
The other two bedrooms face westward toward the Hudson River and New Jersey. Each of them have a bath and separate shower as well as a deep soaking tub.
The other two bedrooms face westward toward the Hudson River and New Jersey. Each of them have a bath and separate shower as well as a deep soaking tub
One of the other two bedrooms is seen in the above photo. The windows to the left offer views toward the Hudson River and New Jersey
One57, the 75-story skyscraper residence, is one of the tallest in Manhattan, clocking in at more than 1,000ft high.
The first 18 stories of the building are occupied by the Park Hyatt New York, a five-star hotel where a room for two people can cost at least $1,000 a night.
Built in 2013, it was designed by the architect Christian de Portzamparc.
Residents of the building enjoy the services of a 24-hour doorman and concierge.
The building’s common space for amenities measures 22,000sqft which holds a private dining and function room with full catering kitchen, on-site valet parking, cold storage, a library with a billiards table, a screening and performance room, a private fitness center, a yoga studio, a separate workout room with Peloton bikes, a fitness MIRROR, and free weights.
The image above shows the views of Central Park and Manhattan at night
The image above shows the nighttime skyline of Upper Manhattan and Central Park as seen from One57
One57 is one of the tallest residential skyscrapers in Manhattan. Its height exceeds 1,000ft
As if that weren’t enough, One57 residents have exclusive access to a health club on the 25th floor that overlooks Carnegie Hall.
The health club includes a spa, triple-height indoor swimming pool, steam rooms, 24-hour rooms service, in-residence dining, housekeeping service, dry cleaning, and laundry service.
Residents can also reserve a ballroom or a meeting room as well as a business center.
A private residential elevator is also available to those seeking access to a swimming pool, a bar, and a restaurant.