In a return to the real estate boom, developer Gary Barnett has sold $1 billion worth of luxury apartments from a floor plan, including the most expansive ever sold in New York.
The company revealed that the 10,923 s/f duplex penthouse at One57 has been bought for $90 million.
However, the developer has declined to name the buyer beyond saying it is a family who are not from a former Soviet state.
However, he did say the buyers who’ve snapped up half of the apartments since the building officially went on sale six months ago are from across the globe.
“Our buyers are visionaries who recognize the building’s value, and are confident enough to buy off of floor plans at premium prices,” said Barnett, president of Extell Development Company. “We’re seeing buyers from as far as Hong Kong to as near as Fifth Avenue.”
Rising over 1,000 feet on West 57th Street, the Christian de Portzamparc-designed building will feature 92 ultra-luxury condominium residences above a five-star Park Hyatt hotel.
Interiors have been designed by New York-based Danish designer Thomas Juul-Hansen.
“This is an iconic building that has set the bar for luxury living in New York City,” added Barnett.
Homes in the 90-story glass tower, which is expected to top off this July, start at $16.75 million. Occupancy is slated for 2013.
According to the Wall Street Journal, the building received a $700 million syndicated construction loan from investors that included Banco Santander S.A., Abu Dhabi International Bank, Capital One and the Bank of Nova Scotia.
Extell invested $50 million in the project.