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Real Estate

A Second, Even Bigger Foreclosure Reaches NYC Billionaires’ Row

  • Default might be most expensive for a New York condo: broker
  • Auction is the second scheduled in a month for a One57 unit
One57 overlooks Central Park and the Hudson River.

One57 overlooks Central Park and the Hudson River.

Photographer: William Edwards/AFP via Getty Images

Another luxury condo at Manhattan’s One57 is scheduled for a foreclosure auction -- the second time in a month that a property seizure is being sought at the Billionaires’ Row tower following a mortgage default. And it might be the biggest in New York City residential history.

Apartment 79, a full-floor penthouse that was the eighth-priciest sold in the building, is scheduled for auction on July 19, according to real estate data firm PropertyShark. The owner of the condo, a shell company listed in public records as One57 79 Inc., bought the 6,240-square-foot (580-square-meter) residence in December 2014 for $50.9 million, according to New York City records.