On second thought: Penthouse re-sold for $38M after just four months

On second thought: Penthouse re-sold for $38M after just four months

  • The Real Deal
  • 01/7/24

The first resale at Naftali Group and Rockefeller Group’s 200 East 83rd Street was a quick flip of a penthouse.

The 6,600-square-foot duplex sold in late December for $38 million, just four months after it first sold for $32.5 million, records show. The off-market deal was the priciest to hit the books last month.

 

Neither the buyers nor the sellers could be immediately identified.

It’s unclear why the Upper East Side condo unit sold for $5.5 million more this time around, but the previous sale price stemmed from a contract signed in March 2022.

Also, the second sale included a parking space, which might not have been part of the original one. Parking spots in Manhattan sell for well into the six figures.

The sellers did not renovate or even move into the penthouse before offloading it, according to the buyer’s broker, Compass’ Maggie Wu.

Official’s Tal Alexander, who represented the sellers, declined to comment.

 

Unit PHC first hit the market in May 2021 with an asking price of $30 million.

The duplex has six bedrooms, six bathrooms and four terraces totaling 1,900 square feet. It features a 37-foot great room, 12-foot ceilings and views of Central Park and the downtown skyline.

Sales launched at the 85-unit building in May 2021. The Lenox Hill condominium was the top-selling new development that year with $423 million in volume, followed by Central Park Tower at $372 million.

Since then, the Robert A.M. Stern-designed building, now completely sold, has notched a number of pricey deals. PHA sold for $28 million in August 2023 and PHB sold for $24 million the following month.

Naftali bet big on Upper East Side condos over the past several years, and his wager appears to be paying off. One of his Madison Avenue projects, called The Benson, was among the best-performing buildings in the neighborhood, according to a December 2021 Marketproof report.

Two penthouses at 1165 Madison Avenue sold for $68 million in March. It was the fourth priciest deal last year.

 

You can read the article on The Real Deal here.

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