Related Companies cashed in on another unit at its Zaha Hadid-designed 520 West 28th Street.
Matias Einaudi, he seems to be a Managing Director, Credit Suisse, according to public records, acquired a sponsor unit in the West Chelsea development for $9.4 million. The First Republic provided a $5 million mortgage.
Unit 10 tops weekly charts contract In Manhattan, the contract was signed last September with an asking price of $10 million, down from the $13.5 million planned for the building’s sale. The 4,200-square-foot apartment was rented out in 2018 for $39,500 a month.
The unit has five bedrooms and four bathrooms, including approximately 250 square feet of outdoor space. It also features 10-foot-wide motorized windows, a master bedroom with its own sitting room, and a 900-square-foot great room overlooking the High Line Park.
Julie Pham of Corcoran made the list.
Einaudi will join other prominent residents in the 11-story development, known for its sleek, futuristic design. Vice Chairman of eXP World Holdings randall myers With his wife Karen buying a $12 million condo in 2021, Equinox CEO Harvey Spevak In 2017, just after the peak of Manhattan’s luxury condo market, a five-bedroom unit was purchased for $15.3 million.
Related, which went on sale in June 2015, has sometimes been slow to find buyers. Stephen Ross’ company had sold 30 of the building’s 39 units at the time of the developer’s sale refinancing The project received $162 million in 2017 from KKR Real Estate Finance Trust.
It resorted to accepting discounts on some of the building’s most expensive units, including its 6,900-square-foot Penthouse. Wesley Edens, Chairman of Private Equity Firm Fortress Investment GroupBought the apartment for $20.2 million, a 60% drop from the $50 million asking price in 2016.
The developer quietly offered several units as Related struggled to lock in a sale in the building rent Prices range from $11,000 to $39,500 per month, according to Streeteasy.
The sale of Unit 10 was 30 percent below the planned sales price and came eight years after the building began marketing.
