Record price sought for New York's Woolworth Building penthouse
Developers seeking US$110m for the unit at the top of the 58-storey tower
[NEW YORK] Lower Manhattan's landmark Woolworth Building, once the tallest skyscraper in the world, is setting another record.
Developers are seeking US$110 million for the penthouse apartment in the pinnacle of the 58-storey tower, a proposed offering plan filed with New York State Attorney General Eric Schneiderman's office shows. That's the highest-ever asking price for a condominium in downtown Manhattan, according to Jonathan Miller, president of appraiser Miller Samuel.
"The price is more reflective of the unique historical nature of the property" than its location or the heated luxury market, Mr Miller said. "We've seen rapid absorption downtown, but this project is unlike anything that's come online."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents
Australia home prices sustain growth in April, CoreLogic says
New York City’s rent-stabilised tenants face third year of price hikes
New Zealand house prices dip for first time in 8 months
Blackstone in talks to buy Dulwich schools in Singapore, Seoul for US$600 million