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It’s Listed at $19.5 Million

Even in this market. But the offers are closer to $12 million.


Let’s start by acknowledging the ridiculousness of talking in terms of millions about any apartment right now, much less one that’s on the market for $19.5. Million. Dollars. So think of this as a fantasy tour, complete with soothing voice-over.

The penthouse duplex here is actually two penthouse apartments combined into one 8,100-square-foot space whose sprawl is only augmented by the sixteen-foot ceilings. The building, an all-cement four-story former stable built in 1909, was converted to condos in 1996 by developer Cary Tamarkin. He’d bought it for $1.675 million from artist Joel Shapiro, who had bought it two years earlier for $1.25 million. Prudential Douglas Elliman agent Jan Hashey has been along the whole way—she sold the building to Shapiro; then, when Tamarkin put his new batch of condos on the market, she handled those as well. Now she’s guiding this sale.

Tamarkin plastered the walls and added an elevator, steel-casement windows, and working fireplaces in six of the eight lofts, but did an admirable job of leaving the proportions and industrial cool of the space alone. There were two duplex penthouses, each with ample terraces; they’ve been combined by the current owners, who enlisted architect Michael Haverland to make a livable apartment for a family while keeping the loft feeling. “The challenge was to take these enormous volumes and make intimate spaces within the overall scheme,” Haverland says. “We mixed cool industrial equipment like exposed conduits and outdoor light switches with exposed steel on the stairs and windows and rich, luscious materials like walnut, to create a balance between warm and clean modern looks.”

Here’s the reality, though: So far, offers on this $19.5 million apartment are coming in nearer to $12 million. Will the sellers budge for almost 40 percent below list? “I feel since they don’t need necessarily to sell, they would be much more comfortable with a higher figure,” says Hashey of her clients, who are downsizing and listed the apartment last October. “And I think the good things are going to go. They are going to start disappearing, and that is going to create a momentary frenzy, and things will settle into a sane market.” What that means is anybody’s guess.


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