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This Is The 7500 Square Foot Soho Loft That Just Sold For $27 Million

Tyler Durden's picture




 

It may not be a castle, but this $26.58 million penthouse loft in Soho (New York) has become one of the priciest co-ops ever sold in Manhattan below 34th Street. As The Wall Street Journal reports, located in a former manufacturing building at 383 West Broadway, the duplex unit is roughly 7,500 square feet, with four bedrooms, five full bathrooms and one half bath. The deal closed Monday. The buyer is unknown... nope, no bubble here...

 

 

The penthouse had been listed for $32 million in November 2013 as a co-exclusive between Leonard Steinberg and Herve Senequier of Douglas Elliman Real Estate and Adam Modlin of the Modlin Group.

 

Monthly Maintenance/CC a snip at $5,223

 

According to the listing, the unit has its original cast-iron columns, a wood-burning fireplace, a 1,500-bottle wine cellar, and a media room with custom seating.

 

Above the stairway, there's a 30-foot-tall bulkhead skylight.

 

There's a roughly 4,200-square-foot roof terrace with a covered seating area, an outdoor kitchen and an outdoor shower.

 

All quite ironic really when you consider these two charts...

 

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Tue, 04/22/2014 - 19:30 | 4684625 world_debt_slave
world_debt_slave's picture

Great Gatsby anyone?

 

Tue, 04/22/2014 - 20:06 | 4684776 jbvtme
jbvtme's picture

krugman...you local?

Wed, 04/23/2014 - 00:29 | 4685486 TruthInSunshine
TruthInSunshine's picture

OT Flash Hash: Here it comes, bitchez!

http://portal.ransquawk.com/headlines/ecb-wants-to-relax-bail-in-princip...

News Headline Summary

ECB wants to relax bail-in principle in some cases, according to a report in Handelsblatt

Says:
- Cites unidentified EU diplomats on ECB plans.
- ECB officially denies plans.

Print 04:16 - Asian News - Source: Handelsblatt

Tue, 04/22/2014 - 20:08 | 4684780 monkeyboy
monkeyboy's picture

Nice water tank.

Tue, 04/22/2014 - 20:13 | 4684796 kaiserhoff
kaiserhoff's picture

Doubles as a hot tub.

Tue, 04/22/2014 - 21:46 | 4685121 TahoeBilly2012
TahoeBilly2012's picture

I will take my Tahoe cabin and my little Reno sugar babies, cheaper by a factor of 1000 and way better time by the looks of it. It really seems like money don't buy shit, just sayin'.

Wed, 04/23/2014 - 03:49 | 4685690 DavidC
DavidC's picture

I agree wholeheartedly. Whenever Tyler(s) shows articles like this (or the Chinese car the other day) my overriding impression is that money does not buy taste.

DavidC

Tue, 04/22/2014 - 22:11 | 4685179 icanhasbailout
icanhasbailout's picture

Also looks like it would work just fine as a gallows.

Tue, 04/22/2014 - 22:23 | 4685203 Mine Is Bigger
Mine Is Bigger's picture

Yes.  The buyer needs to convert part of the roof terrace into a heliport.

Tue, 04/22/2014 - 20:17 | 4684813 Mr Pink
Mr Pink's picture

Pay cash for the place and still pay $5200 monthly fees plus property tax. Great deal , especially with the view of the old water tower

Tue, 04/22/2014 - 20:29 | 4684856 Handful of Dust
Handful of Dust's picture

Which Saudi prince bought it?

Tue, 04/22/2014 - 20:53 | 4684949 nmewn
nmewn's picture

He's from the Keynesian tribe, Ali-Krugmani.

Tue, 04/22/2014 - 20:49 | 4684933 ebworthen
ebworthen's picture

Burn...it...to...the...ground.

Wed, 04/23/2014 - 08:05 | 4686001 failure to perform
failure to perform's picture

Nah, let a meteor hit it and take out most of the city.

Tue, 04/22/2014 - 21:44 | 4685112 drendebe10
drendebe10's picture

Wonder what the homeless are doing ...

Tue, 04/22/2014 - 19:30 | 4684627 prains
prains's picture

is it zombie proof?

 

think not

 

 

Tue, 04/22/2014 - 19:52 | 4684711 IridiumRebel
IridiumRebel's picture

I'm sure he will be fine in an EMP event.

Tue, 04/22/2014 - 19:53 | 4684718 Sabibaby
Sabibaby's picture

adequate water storage at least!

Tue, 04/22/2014 - 19:54 | 4684720 ACP
ACP's picture

Nope, but I'd bet a bachelor would get plenty of split tail before they get there.

Tue, 04/22/2014 - 19:31 | 4684632 FieldingMellish
FieldingMellish's picture

Good thing homelessness is falling in NYC... oh wait.

Tue, 04/22/2014 - 19:37 | 4684660 666
666's picture

Is it me? I have absolutely no desire to live in a place like that. Does that makes me un-American?

Tue, 04/22/2014 - 19:44 | 4684682 DoChenRollingBearing
DoChenRollingBearing's picture

No, it makes you smart.

Tue, 04/22/2014 - 20:34 | 4684880 ACP
ACP's picture

Well, if the question was technically, "would you want to live there..."

Hell yeah...

Would I buy a place like that?

Hell no...

Tue, 04/22/2014 - 20:59 | 4684975 666
666's picture

Even if I could afford it, I would not want to call that my home. It ain't me. I prefer practicality without the frills.

I guess I'm just stoopid after all...

Tue, 04/22/2014 - 21:46 | 4685114 NoPantsSpongeBob
NoPantsSpongeBob's picture

The "frill" in Manhattan real estate is ample square footage, which is anything larger than 200 sq feet.

Tue, 04/22/2014 - 19:50 | 4684705 IridiumRebel
IridiumRebel's picture

You're a domestic terriss.

Tue, 04/22/2014 - 19:53 | 4684713 NOTaREALmerican
NOTaREALmerican's picture

Well,  yes and no.    As long as you know your place and get the proper training.

Tue, 04/22/2014 - 20:00 | 4684735 McMolotov
McMolotov's picture

This post and the obesity article before it show that there's a wide variety of options when one chooses a life of gluttony.

Tue, 04/22/2014 - 19:33 | 4684635 Cognitive Dissonance
Cognitive Dissonance's picture

Useless eaters spenders.

<The only thing that trickles down from these transactions is their urine as they piss off the balcony onto the little people.>

Sorry.....was that my out loud voice?

/super snarc sarc

Tue, 04/22/2014 - 19:38 | 4684663 jusman
jusman's picture

Hi CD,

 

Less is so much more, when one realises that there is no need to impress anyone!  Happiness comes from within....

John

Tue, 04/22/2014 - 19:33 | 4684636 Xibalba
Xibalba's picture

looks like a deal

Tue, 04/22/2014 - 20:28 | 4684852 Cognitive Dissonance
Cognitive Dissonance's picture

........with the devil.

Tue, 04/22/2014 - 19:36 | 4684653 kaiserhoff
kaiserhoff's picture

Paging HH to show us the county in Texas you can buy for less.

Tue, 04/22/2014 - 20:49 | 4684932 Ness.
Ness.'s picture

Shit... Chicago is trying to sell lots in the former community organizer's back yard for $1 (A testament to his prior successes LOL).  The new owners of this PH could have purchased practically the entire south and west side of Chicago and developed it for a fraction of the cost.  Current FOID card and CC permit strongly advised.

 

In a plan approved by the Chicago Plan Commission Thursday, homeowners and nonprofits in Englewood will be able to buy city-owned vacant lots for $1.

In Chicago, the hope is to use more than 5,000 vacant lots for something other than litter.

http://www.suntimes.com/news/metro/26317882-418/city-wants-to-offer-vaca...


Tue, 04/22/2014 - 19:45 | 4684676 Being Free
Being Free's picture

Don't ever live in a one horse town, unless it's your horse.

Tue, 04/22/2014 - 19:49 | 4684701 NOTaREALmerican
NOTaREALmerican's picture

It's good to be a member of the Elysium Class.   

Tue, 04/22/2014 - 19:51 | 4684710 covertress
covertress's picture

A guilded cage.

Tue, 04/22/2014 - 19:53 | 4684717 Save_America1st
Save_America1st's picture

I'd rather have a nice and simple log cabin in the mountains, off-grid, with lotsa huntin' and fishin' in my backyard.  Real far away from the zombies.  To each their own I guess. 

Tue, 04/22/2014 - 20:45 | 4684915 willwork4food
willwork4food's picture

Nice, but if you're off grid I would have a solar/wind generators going 24/7. Rather expensive.

Tue, 04/22/2014 - 19:57 | 4684729 BoingBoing
BoingBoing's picture

Lemme guess? All-cash overseas buyer looking to park some funds in a buy-to-leave property?

Tue, 04/22/2014 - 19:57 | 4684733 Papasmurf
Papasmurf's picture

It looks cold, sterile and lifeless like the banksters who live there.   Maybe it looks nicer at night filled with hookers and blow.

Tue, 04/22/2014 - 19:59 | 4684739 JuliaS
JuliaS's picture

It better come with a plank.

Tue, 04/22/2014 - 21:27 | 4684798 nakki
nakki's picture

$3500 a square foot!! $27 million doesn't go that far anymore. Entire Empire State Building cost $41 million. 

Tue, 04/22/2014 - 20:14 | 4684800 order66
order66's picture

That's Bernanke's.

Tue, 04/22/2014 - 20:18 | 4684817 JamesBond
JamesBond's picture

purchased with bitcoin no doubt

 

 

jb

Tue, 04/22/2014 - 20:20 | 4684824 buzzsaw99
buzzsaw99's picture

thanks bernanke, that trickle down is really working good

Tue, 04/22/2014 - 20:31 | 4684869 Bunga Bunga
Bunga Bunga's picture

No pool?

Tue, 04/22/2014 - 21:31 | 4685081 dhengineer
dhengineer's picture

That's the water tank elevated above the roof.  Cue the "Petticoat Junction" theme song with three nekkid chicks popping up over the side...

Tue, 04/22/2014 - 20:40 | 4684899 alien-IQ
alien-IQ's picture

Insanity. Nothing more, nothing less.

Tue, 04/22/2014 - 20:41 | 4684905 Berspankme
Berspankme's picture

I could damn near pay the maint fee

Tue, 04/22/2014 - 20:55 | 4684961 willwork4food
willwork4food's picture

Come on you guys. This is ZH isn't it-we are suppose to be highly sophisticated stock investors with a lack of morals like the true titans of industry today...you know, like Maddof, Corzine..Mark Karpelès. You wanna get rich or stay in that rat infested 12x60 mobile home the rest of your life?

You guys got to get with the program.

Tue, 04/22/2014 - 20:58 | 4684972 whoopsing
whoopsing's picture

Industrial building ?? Funny, buisness in NYC used to actually make stuff, when that paradigm changed the owners of these industrial buildings went tits up and you could pick up THE WHOLE BUILDING under a penthouse like this by paying the back taxes,( usually for under a hundred grand) back in the late seventies - early eighties ! But the neighborhoods were beyond dicey. Still, some magic hand pushed enterprising people to buy these up and convert to residential whilst also building said penthouse on top as an added bonus ( usually going to the guy who put the deal together, ponied the cash, and saw the project through ) Back then something like this would fetch three to five million and they were very rare.  Now they are all over the place and supply is limited and pricey, but still supported, literally,  by the ones in the 'factory' below.

Tue, 04/22/2014 - 21:05 | 4685000 geologyguy
geologyguy's picture

Wonder what the property taxes would be like?

Tue, 04/22/2014 - 21:13 | 4685026 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

I saw a werewolf with a Chinese menu in his hand
Walking through the streets of Soho in the rain
He was looking for the place called Lee Ho Fook's
Going to get a big dish of beef chow mein

Tue, 04/22/2014 - 21:38 | 4685078 Ness.
Ness.'s picture

Thanks for the Zevon.  It's been a while since I gave him a listen.  Good stuff.

<putting in cd now>

For all you kids out there that have never heard WZ...

http://www.youtube.com/watch?v=ceH69d-BWY0

 

Lawyers, guns and money.  Good stuff too.

Well, I went home with the waitress
The way I always do
How was I to know 

 She was with the Russians, too?

 http://www.youtube.com/watch?v=IMxDxwOgo5E

Tue, 04/22/2014 - 21:17 | 4685032 user2011
user2011's picture

let me guess.. corrupted chinese businessman or government officials.

Tue, 04/22/2014 - 21:37 | 4685101 jackstraw001
jackstraw001's picture

=26,044 American Gold Eagles. Give me gold and you can keep the Manhattan real estate Bitchez!

Tue, 04/22/2014 - 21:41 | 4685104 dhengineer
dhengineer's picture

That part of Broadway is narrow, with packed sidewalks all day, every day.  Sirens at night, people (sic) pissing in your doorway, ringing your door buzzer at all hours of the night... Even if you had a driver, you would still have no choice but to be dropped off at the curb... to be stared at by the sidewalk gawkers...  I used to work as a private chef in similar places before I escaped to the upstate woods... The denizens of these places are usually stingy as hell with the "help"... good riddence, morons...

Tue, 04/22/2014 - 21:43 | 4685111 GeorgeHayduke
GeorgeHayduke's picture

All that money and you are still in NYC...surround by people...tons and tons of people. Even if I could afford it I'd pass.

Tue, 04/22/2014 - 21:50 | 4685133 drendebe10
drendebe10's picture

Good place to be when the SHTF and rioting in the streets. Amazon drones can drop u fud.

Tue, 04/22/2014 - 22:02 | 4685162 Sutton
Sutton's picture

Looks like the Triangle Shirt Waist Factory all dolled up.

Tue, 04/22/2014 - 22:11 | 4685180 tom a taxpayer
tom a taxpayer's picture

Paging DeBlasio! What ever happened to NYC rent control?

Tue, 04/22/2014 - 22:24 | 4685207 F-X
F-X's picture

Should you ever have the desire to buy a place like that, first walk through the lobby of a five-star hotel. It's much more luxurious. Maybe sit for a while. You'll be bored in 15 minutes. Maybe five. Then you'll be ok.

 

Just put your 27 mil in an envelope and give it to the first street sleeper you see. You'll feel better.

Tue, 04/22/2014 - 23:53 | 4685437 walküre
walküre's picture

It didn't sell for above asking? WTF is this recovery they talk about?

Wed, 04/23/2014 - 01:28 | 4685562 Steel Magnolia
Steel Magnolia's picture

This is the perfect scenerio of .... The Rent's Too Damn High"!

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