Central Park Tower condo sells for $20M off asking

It’s not too late to get a discount at Gary Barnett’s Central Park Tower.

Unit 122 at 217 West 57th Street closed for $45 million, according to property records. The sale of the full-floor, 7,000-square-foot unit was the 10th most expensive this year in New York City, according to TRD Pro data.

The sale closed for roughly $20 million below the unit’s asking price of $65.5 million.

It’s the latest sale at the supertall to sell at a discount, after a similar 7,000-square-foot apartment closed in August for $43 million, down from the $63.8 million asking price.

Dozens of units have sold well below the asking price

Barnett told the Wall Street Journal in June the building had sold roughly $1 billion in units but would fall short of its $4 billion projected sellout.

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A previous TRD analysis of the building’s progress showed sales could top out around $3 billion.

Barnett financed the building with a $900 million construction loan and a $380 million mezzanine loan. He previously told TRD he prioritized sales volume over getting top dollar to pay off the construction loan as quickly as possible.

“Once we have it paid off, the logic is prices will go up,” he said in 2021.

Unit 122 has five bedrooms and five bathrooms. The unit includes a 1,500-square-foot salon, 12-foot ceilings and 360-degree views of Central Park.

The unit’s $65.5 million price tag pales in comparison to the building’s penthouse, which is asking $250 million.

Ryan Serhant is the broker on the listing, which would mark the most expensive sale in the United States if the triplex trades for its asking price. The current record was set at 220 Central Park South in 2019 by hedge funder Ken Griffin, who paid $238 million for the 23,000-square-foot quadplex.