The reported purchase of a lower Manhattan penthouse for nearly $12 million is believed to have set a record for residential sales the Financial District, according to The Real Deal.
Listing broker Fredrik Eklund of Douglas Elliman said the purchase price for the 3,554-square-foot condo at 5 Beekman St. is "very, very, very close" to the asking price of $11.995 million.
That’s nearly twice the previous record for a closed sale in the area, a penthouse at 150 Nassau St. that went for $6.57 million in 2007, according to Jonathan Miller of real estate appraisal firm Miller Samuel.
Originally listed at $15.25 million last year, the penthouse occupies the entire 50th floor and features 16-foot ceilings, a fireplace and 360-degree views. It was taken off the market and relisted this past June.
The sale underscores just how desirable the area, once zoned exclusively for commercial use, has become among high-end residential purchasers, according to experts.
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"The record sale of a $12 million penthouse in Manhattan’s Financial District demonstrates how much further this transient neighborhood has shifted toward residential occupancy: from 9 a.m. to 5 p.m. to 24 hours," said Mr. Miller.
The building at 5 Beekman St., a landmarked structure once known as Temple Court, was purchased by GFI Development Company and GB Lodging in 2012 and joined with 115 Nassau St. to form a 350,000-square-foot property that encompasses the Beekman Residences as well as the soon-to-open Beekman Hotel.
The original structure, a 10-story office building, was one of the tallest in New York when it opened in the 1880s. It features two pyramid-shaped towers atop a facade made of red Philadelphia brick, tan Dorchester limestone and terra cotta, according to Curbed New York. Inside, is a nine-story-tall skylit atrium with iron railings, colorful tiled floors and arched doorways.
The atrium will be the centerpiece of the 287-room hotel. The adjoining 51-story residential tower houses 68 condo units, ranging from one to three bedrooms, each with oak floors, marble countertops and a mahogany entrance, according to Curbed. The building features a roof deck, concierge, gym, media room and a restaurant headed by chef Tom Colicchio. And, its exterior echoes the pyramids and etchings of its 135-year-old neighbor.
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