5th Ave Penthouse Sells for Over $27 Million

A 5th Avenue penthouse in the building formerly known as the Stanhope Hotel was sold recently for over $27 million. This immaculate estate resides on over 8.360 square feet on the 16th floor of the 995 Fifth Avenue condo.  The sale of this upscale 5th Avenue penthouse has attracted a lot of attention and city records note that sale of this massive estate was the largest sale of the week.

The exact price of this property was listed at $27,376, 940.03 but insiders state that the actual sale price for the estate was closer to the $30 million mark. The company responsible for the development of the condo was the Extell Development and they decided to list this property with two brokerage corporations before its recent success with the Sotheby’s International Realty firm.

After being renovated from a well known hotel building to a luxury condo building, this contemporary building now hosts 26 luxury condos. The condo sold recently has been listing on the market off and on for the last 5 years. The unit underwent a much needed renovation to provide a new layout for the buyer of this modern property. This amazing penthouse was originally listed on the market in 2oo7 for $35 million and was listed on the popular show “Selling New York” which is featured on HGTV.

The layout modification required some walls to be demolished and the finishes were also replaced. This 16th story penthouse was sold to a New York family that will no longer have to worry about having enough space to entertain with 8,360 square feet. A neighboring unit with over 1,000 square feet was also purchased to accommodate the help or guests. This New York family and the realty companies involved wanted to remain anonymous in this transaction.

 

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