By Sarah Paynter
THE DEAL: A penthouse on Billionaires' Row in Manhattan is in contract for roughly $42 million. If it closes at that price, it will be one of New York's most expensive sales of the year, according to Nikki Field of Sotheby's International Realty, the listing agent on the deal.
The four-bedroom condo unit at 111 West 57th Street was first listed for $54.6 million in 2023. Its most recent price was $45 million.
THE BUYER: Field declined to identify the buyer, but said he is a European billionaire with a family who plans to make the building his primary home. The buyer is bringing his own designer, architect and decorator to the finished unit, she said.
THE SELLER: The developers, JDS Development Group, Property Markets Group and Apollo Commercial Real Estate Finance, finished the building in 2022. The building, which includes the restored 1925 Steinway Hall, is 98% sold, said Field.
THE SPECS: The roughly 6,500-square-foot duplex has floor-to-ceiling windows with views of Central Park. It also has about 300 square feet of terrace space and a private interior elevator between floors.
THE MARKET: Field said she is seeing an increase in European buyers in this price range because of the strength of the euro and the pound against the dollar, as affluent Europeans build out their property portfolios.
The penthouse deal "reinforces that truly irreplaceable product, scale, craftsmanship, and views, continues to command global demand, even in a more selective market," JDS Development Group founder Michael Stern said in a written statement.
New York City's most expensive sale of the year so far was a $57 million penthouse in Tribeca, according to Field. Last year, billionaire Christian Candy purchased a unit at 111 West 57th for $46.9 million.
(END) Dow Jones Newswires
April 15, 2026 15:36 ET (19:36 GMT)
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