Real Estate
Can This $18 Million Penthouse Beat New York’s Market Slump?
Cary Tamarkin, the developer behind the forthcoming 555 West End Avenue condo conversion, has faith in his own instinct.
Source: Hayes Davidson
The developer Cary Tamarkin bought at the top of the market. His $50 million purchase in 2014 wasn’t a luxury apartment though; it was a former Catholic school at 555 West End Avenue, on New York’s Upper West Side.
Tamarkin and his partner, CL Investment Group of China, decided to convert the building into 13 luxury condominiums. They later announced that the apartments’ prices would start at $7.9 million, and construction began in late 2015.