One57 foreclosure shatters price dreams at billionaires’ tower

In December, the condo board at One57 , the ultra-luxury skyscraper on Billionaires’ Row, slapped the owner of a $50.9 million unit with a $64,331 bill for unpaid building fees. Six months later.

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When a full-floor penthouse at Manhattan’s One57 sold at a foreclosure auction, it didn’t just settle an international mortgage gone bad. The deal also set a new price standard for the Billionaires’.

The Bloomberg story (that I got to chime in on) lays out the details of the One57 auction sale: one57 Foreclosure Shatters Price Dreams at Billionaires’ Tower. The story reached #1 as the most read on the 350k Bloomberg Terminals worldwide yesterday.

 · Bloomberg news broke the story that a $50M+ condo purchased in 2014 just sold at a foreclosure auction for $36,000,0000. There were five bidders.

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When a full-floor penthouse at Manhattan’s One57 sold at a foreclosure auction, it didn’t just settle an international mortgage gone bad. The deal also set a new price standard for the Billionaires’.

One57 is a gem of Billionaire’s Row. Evan Joseph/Extell Development A full-floor penthouse in the landmark one57 condo building is headed to the auction block after it was seized under foreclosure.

A 4483-square-foot apartment on One57’s 65th floor sold in April for $22.5 million, or 23 per cent less than its 2014 purchase price, according to StreetEasy.

One57 Foreclosure Shatters Price Dreams at Billionaires’ Tower. When a full-floor penthouse at Manhattan’s One57 sold at a foreclosure auction, it didn’t just settle an international mortgage gone bad. The deal also set a new price standard for the Billionaires’ Row tower that once stood as a symbol of unlimited extravagance. The 6,240.

He argued that the corrupt practices had cost him in lost sales opportunities at his Trump World Tower condo development near the United Nations, necessitating lower-than-planned prices because..

FORBES reporter Morgan Brennan gets a tour of One57, also known as "billionaire building" located just south of NYC’s Central Park. One 57 is a 90-story condominium tower at 157 West 57th Street.

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