A $45 million penthouse gets halved in response to slowing luxury market

March 1, 2016

At the very top of his newly constructed condo tower in SoHo, developer Kevin Maloney saw a problem:

At the very top of his newly constructed condo tower in SoHo, developer Kevin Maloney saw a problem: a triplex penthouse priced at $45 million that he knew wouldn’t sell in a Manhattan market…

To view the full story, click the title link.

Source: Crains

About the Author

This author has not added a biography. Meanwhile has contributed 2429 posts. Click here to view them.

Some Related Posts

CRE Report Editor

September 18, 2020

Silverstein Properties Scoops Up the U.S. Bank Tower in LA for $430M

Silverstein Properties, a private real estate developer, owner, and propert
CRE Report Editor

April 7, 2020

FOR SALE: 56 Units in LA’s Miracle Mile

Even though the market is chaotic right now – there are some assets that
CRE Report Editor

August 9, 2018

Portfolio of 10 Buildings in East New York New to Market

Stelth Commercial Group has been contracted to sell 10 contiguous buildings
CRE Report Editor

August 3, 2018

Mixed Use Corner Property in Prime Greenpoint

For more information, contact Vernon Jones of Elite Commercial at 347.228.2
CRE Report Editor

August 3, 2018

Vacant 3 Story Sunset Park Warehouse

For more information, contact Vernon Jones of Elite Commercial at 347.228.2