One High Line penthouse asking $52M snags contract

The rebranded One High Line in West Chelsea could soon see one of its biggest success stories yet.

A penthouse apartment at 76 11th Street asking $52 million has entered contract, the Wall Street Journal reported. If the sale closes at that price, it would be one of the most expensive in the history of downtown Manhattan, where $50 million sales are rare in comparison to luxury enclaves uptown. 

Some of the few $50 million residential real estate sales in downtown Manhattan include a penthouse at 70 Vestry Street in Tribeca that sold for $56 million and another Chelsea unit at the Getty, which sold for $59 million — both sales were in 2018.

The six-bedroom condo spans 7,000 square feet, providing 360-degree views of the Hudson River and Manhattan skyline, as well as a 5,000-square-foot terrace. The price per square foot would be more than $7,400 if the deal closes at $52 million.

Amenities at the building include a 75-foot lap pool and hot tub, a spa, a golf simulator and virtual gaming facilities.

The property was home to the most expensive contract signed in the borough in the last week of April, for a 5,700-square-foot penthouse that asked $28 million, down from $34 million when it first hit the market last summer.

The recent deals are votes of confidence for Steve Witkoff’s Witkoff Group and Len Blavatnik’s Access Industries, who purchased the troubled development, then known as The XI, for $900 million in December 2021. The partners acquired the property it in a foreclosure sale triggered by the troubles at HFZ Capital Group, which led to a pause in work in 2019.

The two-tower condo project will have 240 units, as well as 137 hotel rooms, 85,000 square feet of retail space and a public plaza. Construction is expected to wrap up in the winter of 2024.

Nine units at the new development went into contract last month.

— Holden Walter-Warner

Read more

New York

NYC’s new development shakes off seasonality 

New York

One High Line launches sales, says goodbye to the “XI”

New York

Witkoff and Access Industries buy HFZ’s languishing XI condo project