A penthouse in Trump Tower missed its original asking price but still netted the seller a handsome profit.
Unit PH50A reportedly sold for $23.5 million last week property recordsMore than four times the $6 million it was last sold for in 1997, According to StreetEasy. The price dropped to about $5,200 per square foot.
The five-bedroom, 6.5-bathroom apartment is nearly 4,500 square feet and faces Central Park on three sides, according to the listing, which does not mention the former president by name. The nine-room unit includes a “loft-style entertainment space” and a library.
Amenities in the building overlooking Columbus Circle include 24-hour doorman with concierge, live-in resident manager, rooftop deck, health club and spa, and 24-hour room service by Jean Georges.
The penthouse was originally listed in 2019 for $32 million. It was delisted several times as the asking price eventually fell to $27 million.
The buyers concealed their identities through a shell company, but a man named Sana H. Sabbagh signed the deed on the seller’s side.
Corcoran’s listing broker, Federica Floris, declined to comment.
Real estate attorney Pierre Debbas said that while the sale is welcome news for Trump Tower’s appreciation, the former president’s growing legal troubles pose a threat to his real estate empire.
A conviction on either of his felony indictments could prompt lenders to pay it off in full or refinance it. It could also make it difficult for Trump to secure financing and prevent him from managing LLC partnerships.
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Manhattan’s luxury home market has rebounded from a mid-May slump, with homes asking $4 million or more, according to Olshan Realty. Thirty-one units signed up last week, one less than the previous week. But recent townhouse contracts have been few and far between, with just one Manhattan townhouse under contract in the past two weeks.
