A $65 million Manhattan penthouse at 70 Vestry recently sold, leaving behind three other Manhattan Penthouses on the market listed for the exact same price.
Although the penthouse at 70 Vestry sold, luxury penthouses at 56 Leonard St. in Tribeca, 100 East 53rd St. in Midtown East, and 995 Fifth Ave.’s on the Upper East Side are hot on the market.
Leonard Steinberg, president of Compass and listing agent of the two penthouses in Tribeca and Midtown East, says at this level, penthouses are bought based on individuality and personal taste. “Each penthouse is its own market,” he said.
Steinberg also points out that all four of these penthouses are differentiated by their extravagant upper floor, rooftop and wrap-around terraces. Various unique layouts, rare amenities and high ceilings also make each of the penthouses exceptionally appealing to potential buyers.
The 70 Vestry penthouse sold quickly, only being listed on the market for about five months. Some of the other penthouses have been sitting on the market for a little longer. The property at 100 East 53rd St. has been on the market for a little more than a year and seven months. The 985 Fifth Ave. penthouse hit the market only four months ago and the 56 Leonard only 80 days.
The 56 Leonard property comes as a duplex penthouse and will land you the best dollar per square-foot ratio out of all four. Even so, the 70 Vestry location had something special to it that set it apart from the others. “70 Vestry has spectacular, unobstructed views, high ceilings and the right market momentum, that explains why it has found a buyer first,” said Dolly Lenz, a broker and chief executive of Dolly Lenz Real Estate.
100 East 53rd St. is the smallest and most expensive per-square-foot with only four bedrooms and four and a half baths. Lastly, the 995 Fifth penthouse is elegant, but pulled down by exorbitant maintenance costs. Converted from a historic building, the monthly maintenance is about three times any of the other properties.