Central Park Tower’s latest resale was less of a flip and more of a flop.
Unit 120 at Extell Development’s Billionaires’ Row supertall traded for $39.5 million, down from the $45.5 million it fetched when developer Gary Barnett sold it in December, according to public records. The latest deal, which landed in the city register on Monday, appears to have been off-market.
The identities of both the buyer and seller were shielded by anonymous LLCs, though the seller lists the address of a Hong Kong-based investment company, White River Capital Fund.
The 217 West 57th Street apartment initially asked $65 million when Extell Development put it on the market in February 2024. The developer slashed the price to $59.5 million six months later. Though the unit sold for $14 million less than its last asking price, it still landed among the 10 most expensive deals in the city last year.
The full-floor condo spans 7,000 square feet and has five bedrooms and five bathrooms. It also features an eat-in kitchen, private foyer and 11-foot-tall floor-to-ceiling windows with views of Central Park.
Unit 120’s discount followed a pattern of significant price chops at the building — a trend Barnett acknowledged in 2022 and which prompted him to update his projected sellout to roughly three-quarters of the $4 billion he originally sought.
Among the discounts was Unit 39B, the ninth priciest deal to close in 2024, which sold for $43.5 million, a whopping 42 percent discount from its original asking price of $75 million.
Extell has closed 114 sponsor sales at the supertall since it began marketing units off of floorplans in 2016, according to The Real Deal’s latest analysis of deals in December. The apartments sold for a combined total of $1.8 billion, roughly 25 percent below Barnett’s projected $2.4 billion target for the units in the initial offering plan.
Central Park Tower nabbed the second priciest deal in the city last year when one of its duplex penthouses sold for $117 million, marking the first over $100 million since 2022.
The building’s penultimate penthouse made headlines when it hit the market for $250 million in 2022. The sprawling triplex was featured on Ryan Serhant’s Netflix show, “Owning Manhattan,” as agents at the celebrity broker’s eponymous firm compete to find a buyer for the listing.
But the penthouse was pulled off the market last summer, after Serhant and Barnett dropped the asking price to $195 million, and has yet to return.
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