Real Estate

111 Murray Penthouse Deal Leads Manhattan Luxury Contracts

The deal for the final condo at 111 Murray Street, which closed last week for $31 million.

The penthouse, last asking just under $34 million, was the priciest inked in Manhattan between Oct. 26 and Nov. 1, according to Olshan Realty’s latest report. The Wall Street Journal revealed fast-fashion mogul Richard Saghian as the buyer last week, after The Real Deal first reported the sale on Tuesday. 

Penthouse 1 at the Tribeca tower spans roughly 7,700 square feet and has five bedrooms, six bathrooms and two terraces. It also features a fireplace in the great room and 14-foot ceilings. 

The developers, including Witkoff Group, Fisher Brothers and New Valley Ventures, sought $45 million for the apartment when they began marketing units off of floor plans more than a decade ago. Amenities in the building include a fitness center, pool, hammam and salon. 

Douglas Elliman’s Emily Sertic has led sales at the 157-unit project, which was completed in 2018. Ryan Serhant and Emilia Serhant represented Saghian in the deal. 

Buyers signed 34 contracts last week for homes in Manhattan asking $4 million or more, down from 36 in the previous period. Of the pending deals, 17 were for condos, 12 were for co-ops and five were for townhouses. 

The second most expensive property to find a buyer was a penthouse at 71 Murray Street, with an asking price of $18.5 million. The triplex condo, which hit the market in April, has four bedrooms and four full bathrooms spread across 6,700 square feet. 

It also features an elevator, a fireplace, a rock climbing wall and multiple terraces, including one on the roof with an outdoor kitchen. 

The 11-unit condominium in Tribeca, known as the Hastings Building, was built in 2001 and developed by Elad Properties. Its amenities include full-time doormen and storage. 

Sotheby’s International’s Jeremy Stein and Manek Mathur had the listing.

The homes were priced at a combined $305 million, with an average of $9 million and a median of $6.6 million. The typical home spent more than a year on the market and was discounted by 13 percent.

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