Penthouses at the Puck Building

IDK, but anyone advertising a $45m apartment by mentioning the appliance manufacturers deserves a 35% price chop.

What about bunk bed? Seems short of bed rooms.

The bedrooms are on the other floor of the duplex. The apartments look fabulous and as if Kushner thought he and Ivanka would live there. He definitely overbuilt in a less than prime location on top of what is essentially a commercial building. His real estate instincts obviously aren’t great .

One plus is that it's not across the street from a gas station anymore (or is that a minus?).

Trivia: it was the last gas station in Manhattan which had free air.

1) This isn't a broker I'd bet against and 2) what are you going to mention, if you're not going to mention La Cornue (kind of surprised that there isn't a better picture of it though)

The location is true downtown vs what Bezos bought and it is a beautiful historic building. Selling price in this price range is hard but call is $4K per sq ft including 50 percent allowance for outdoor space. Perhaps some discount ($1-2mm) as it is not brand new.

So, one can get north of $35mm easily when they are not the one paying for it.

I think it might be difficult to overcome lack of cachet for the building. Compare to 443 Greenwich St which has the rep of being a celeb magnet. What's the rep here? I don't think the association with Jared Kushner helps unless the sale is to some oligarch thinking they will be buying access. I also think no one wants to be the first (only?) Buyer in a building, and while I haven't seen the Offering Plan my guess is that that collective penthouse owners will never have a majority say in what goes on in the building vs the commercial owners (why I would also never buy in one of these hybrid condo/rental buildings where the rental be portion has a huge vote).

> 30 - absolutely right on.

> 30 - absolutely right on.

> 30 - absolutely right on.

> 30 - absolutely right on.

> 30 - absolutely right on.

would be better off renting here

Just looked at previous sales. PH3 sold for 18mm. $3500 per square ft. 6 unit condo and several others sold.

https://streeteasy.com/sale/1216771

Sold for $28mm in 2016. $5k per sq ft. Ultra luxury market down 20 percent since then. So $4k per square ft seems reasonable ballpark.
https://streeteasy.com/sale/1118097

So another 30% off?

No. You have to count some percentage of outdoor space. Counting 50 percent, the penthouse is close to 10k sq ft. While the market at this $ price end is highly illiquid and it is very hard to say where it will sell, the listing price seems reasonable and I would say broker has done a good job of comps and reflecting current ultra luxury market conditions. If I had the money to spend at this level and need for space, I would live in puck building rather than suburban 443 Greenwich or 212 Fifth. This location has soul and character.

I think you might be overestimating the location - on Houston St and Lafayette St - and not discounting enough for the oddity of living in a commercial building. It's closer to 262 Mott St in nature than 212 5th or 443 Greenwich.

Yes. This location is extremely high traffic and even if you are 3X paned, your outdoor experience would be noisy.