Aurora Capital Associates snagged a signed contract for a penthouse at 140 Jane Street asking $87.5 million, The Real Deal has learned.
The pending deal comes just four months after the developer announced it was preparing to list the property, one of 15 units at the West Village project.
If the condo closes for its listing price, the deal would set a new record for Downtown Manhattan, unseating a unit at the Witkoff Group’s 150 Charles that traded for $60 million earlier this year. The sellers, financier Harsh Padia and his wife, interior designer Purvi Padia, sold the apartment for roughly double what they paid for it nine years earlier.
Plans for the 9,500-square-foot penthouse at 140 Jane Street include floor-to-ceiling windows, a wraparound terrace and three balconies. The building, which quietly launched sales last summer, is slated for completion in early 2027. All but one of its units have already entered contract.
The inked contract “reinforces what everyone’s saying about Downtown Manhattan,” said Nikki Field of Sotheby’s International, who’s representing the buyer in the deal. “It’s the new billionaires’ coast.”
Field declined to share the identity of the buyer but said her client agreed to purchase the property from a Zoom presentation. She added that the city’s new development market hasn’t seen a building so close to sellout this far in advance of completion since Extell Development’s One57, signaling high demand for quality projects in the face of rapidly declining new development inventory.
A Corcoran Sunshine team, led by Tara King-Brown, is heading sales at the project. Both King-Brown and Field declined to share the sale price.
News of the contract first surfaced in an Instagram post on Compass’ Leonard Steinberg’s account pushing back against industry outcry against private exclusive listings, including criticisms that marketing homes through this channel prevents sellers from nabbing top-tier prices.
“The Downtown luxury markets are significantly healthier than the numbers being reported. Especially in brand new buildings,” Steinberg wrote in the comment. “Those spewing a narrative that private exclusives depress all pricing are obviously very wrong.”
Jake Indursky contributed reporting.
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