On the heels of February and March’s record-shattering months for Manhattan luxury condo sales comes this swanky penthouse offering that more than fits the bill when it comes to high net worth buyers clamoring for larger homes with private outdoor space.
Listed for $42 million, and situated at Tamarkin Co. and CL Investment Group’s restored Beaux Arts-style 555 West End Avenue, the pricey perch melds two expansive penthouses into one jaw-dropping home sporting a wealth of private outdoor living space serving up panoramic views of the Manhattan skyline and Hudson River. And it’s the most expensive new development currently for sale on Manhattan’s Upper West Side north of 72nd Street, at $4,983 per square foot.
“The luxury development market in general is roaring back and has been shattering records since the beginning of the year,” says Cathy Taub of Sotheby’s International Realty, who shares the co-exclusive listing for the penthouse with Alexa Lambert of Compass. “Just last week, 47 contracts were signed at $4 million and above, extending the incredible streak of 30 or more deals to eight weeks in a row — the longest streak in more than a decade.”
“With the warmer weather, increased vaccinations, and restaurants, and sports and other venues reopening, many people are returning to the city and looking to upgrade their space,” adds Lambert. “Many buyers are also happy to be near access points in and out of Manhattan, and in a sweet residential neighborhood. The penthouse is everything this buyer wants and more.”
Situated in an historic red brick and limestone building designed by William A. Boring and completed in 1908, and found in the Riverside-West End Historic District, 555 West End Avenue was originally home to a Catholic boy’s school. The newly expanded penthouse was formed by combining the solarium penthouse, developed from what once was the rooftop gym, and the terrace penthouse, a new addition atop the landmark building.