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Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $4,300,000, the current entry threshold for luxury apartments in Manhattan. If you’re in the market for a high-end abode, you should know that while sales have slowed considerably over the past couple of years, that trend is starting to reverse as sellers come to grips with the new market reality and adjust their prices accordingly. It's good news for your wallet—just be aware that many luxe listings won’t linger on the market indefinitely. For more information, check out Brick Underground’s tips on buying a luxury apartment in NYC.
When this sprawling duplex penthouse at 21 East 26th St. in Nomad went on the market for $26,950,000, the New York Times featured it in a big spread. No wonder: It is owned by the New York-born singer and actress Jennifer Lopez.
That was nearly two years ago, and after several price cuts, including one five months ago that chopped almost $2 million off the price tag, the four-bedroom, six-plus bathroom condo is now asking $24,990,000. Even stars as big as Lopez, who just finished a sold-out tour and has a new movie, “Hustlers,” coming out Sept. 13, can see their luxury apartments linger on the market.
The apartment is at the Whitman, a condo conversion with only four units that overlooks Madison Square Park. Lopez purchased it directly from the developer in 2014 for $20.15 million, according to the New York Times.
It’s a spacious place, with nearly 12-and-a-half-foot ceilings, and over 6,500 square feet of interior space, and 3,000 square feet of exterior space, thanks to four terraces. There’s a private, keyed elevator and an entry foyer on the fifth floor. Monthly taxes are $9,840 and common charges are $11,808.
The duplex’s fifth floor also has a great room with three French doors that open to a terrace overlooking the park.
This floor has an Arclinea chef's kitchen with a large island, open shelving and custom cabinetry. Also on this floor are three bedrooms with en suite baths, a staff room with a full bath, and a laundry room.
There’s also a media room and another terrace with views of Madison Square Park and the Flatiron District. The duplex also has wide-plank, rift oak floors, Italian marble slab bathrooms, and a Crestron smart home system.
The neighborhood is stocked with restaurants, stores and many exercise studios—Eataly, Eleven Madison Square Park, and The Home Depot are a couple of blocks away.
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