Walker Tower 212 West 18th Street by JDS Development Group & Michael Stern

Downtown Manhattan Penthouse Sells for a Record $50.9 Million

A penthouse in Manhattan’s Chelsea neighborhood has closed for $50.9 million. According to listing agent Vickey Barron of Douglas Elliman, the deal sets a new record for the most expensive home sale downtown.

Called Penthouse One, the 5,955-square-foot, five-bedroom, 5½-bath apartment takes up the entire 24th floor of Walker Tower, an Art Deco office building converted to condos by JDS Development Group and Property Markets Group. It has a private south-facing terrace and floor-to-ceiling windows on all four sides, allowing views of the Statue of Liberty, the Chrysler Building and the Empire State Building, Ms. Barron said. The unit also has nearly 13-foot-high coffered ceilings and three wood-burning fireplaces.

The apartment was listed in September for $55 million, and went into contract less than a month later, according to Ms. Barron, who represented both the buyer and seller. The all-cash deal closed last week, added Elliott Joseph, a principal at Property Markets Group. Mr. Joseph and Ms. Barron said they could not disclose the identity of the buyer, but Ms. Barron said the purchaser “was in the penthouse less than five minutes and said ‘I’ll take it.’” According to city records, the largest prior sale south of 34th Street in Manhattan was a penthouse at 18 Gramercy Park South that sold for $42 million in August of 2013.

Walker Tower was designed by architect Ralph Walker and completed in 1929 as an office for the New York Telephone company. The developers bought the building in 2009 from then-owner Verizon for $25.25 million, according to public records, and conducted an extensive renovation. The only other unit still available in the 47-unit building is Penthouse Two, on the 23rd floor, which is listed for $47.5 million, Mr. Joseph said.

At 6,515 square feet, Penthouse Two is actually larger than Penthouse One, Mr. Joseph said, but being on the top floor fetches a premium. Still he said if the market stays strong, when Penthouse Two sells “we might break our own record.”

By Candace Taylor, The Wall Street Journal

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