Lower Manhattan Condo Seeks a Record $56.5 Million

A penthouse atop the Ritz-Carlton in lower Manhattan’s Battery Park City is listed for sale at $56.5 million, the highest-ever asking price for a downtown home.

The 7,500-square-foot (697-square-meter) duplex condominium at 10 West St. includes five bedrooms, five bathrooms and two outdoor roof decks, one with a view of the Statue of Liberty, according to the listing by Julie Kang, Matthew Gros-Werter and Steven Forkosh, brokers at Platinum Realty Group.

If sold at the asking price, the deal would be a Manhattan record for a property below 34th Street, according to Jonathan Miller, president of New York-based appraisal firm Miller Samuel Inc. The current downtown high was set in August, with the $42 million purchase of a penthouse at Zeckendorf Development Co.’s 18 Gramercy Park.

“It’s a surprising number,” Miller said of the Battery Park City listing price. “But many sellers are emboldened by past benchmarks that have been set.”

The city’s biggest completed transaction is the $88 million sale last year of a penthouse at 15 Central Park West by former Citigroup Inc. Chairman Sanford Weill. Since then, contracts have been signed at more than $90 million each for apartments at Extell Development Co.’s One57 and at Harry Macklowe and CIM Group’s 432 Park Ave., which are under construction in Midtown.

“It’s really just a handful of sales that everybody points out,” Miller said in an interview. “They speak for that market, yet it gives the wrong impression that it’s commonplace.”

‘Incredible’ View

Gros-Werter said the “uniqueness” of the Ritz-Carlton penthouse was a major reason for setting the asking price so high. On the roof decks, “there’s nothing else in front of you except the Statue of Liberty and the water to the south. And to the north, there’s nothing but this incredible New York view with nothing blocking it.”

This week, designer Tommy Hilfiger listed his duplex apartment at New York’s Plaza for $80 million, which would shatter the previous record of $48 million, paid two years ago, for a unit at the building.

Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, is seeking $115 million for his 9,000-square-foot duplex at One Beacon Court. It has been on the market since April, according to listings website StreetEasy.com.

“It’s a new marketing strategy for the super-luxury market,” Miller said. “Price something at a record high and it becomes talked about as if it were worth it.”

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