Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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From: StockDung	1/16/2015 5:52:56 PM
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Keeping up with the Pinks =========================================================== $100M condo sale breaks record for most expensive apartment ever sold in Manhattan Deal sets a new benchmark for city real estate Marchmade One57 will be home to some of the city's most wealthy residents A palatial apartment on 57th St.’s so-called ‘Billionaires’ Row’ has broken the record for the most expensive apartment ever sold in Manhattan Hedge fund mogul Bill Ackman buyer dropped a staggering $100.47 million on the apartment, which occupies the entire 89th and 90th floors of One57, the high-end apartment tower overlooking Central Park at 157 W. 57th St., according to city records. The property is the first single-family home to sell for an excess of $100 million in the city’s history. “This is going to set a new benchmark for real estate in New York, especially in new developments,” said Ben Benalloul of brokerage RLTY NYC. “I think this is a record we’re going to see broken several times over the next two tears.” Ackman’s purchase, while already reported, was widely thought to be for just $90 million. The finance honcho reportedly doesn’t even plan on living in the breathtaking duplex apartment, which he bought for sport with a few close friends. Instead, he plans on flipping it for a quick profit a few years down the line. Ackman has already reached out to several top brokers to help him guage whether or not the apartment would sell for a decent profit if relisted immediately, sources told the Daily News. Developer Gary Barnett of Extell Development, who built the tower, was not immediately available for comment. Marchmade The tower has also been a draw for foreign buyers

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