Home Sweet Home? Flipping a Unit at One57.

  • Posted at 3:36, January 07, 2014
  • By QuidnuncRE Staff

More eyebrows being raised at One57, the new Extell Development Co. behemoth at 157 W. 57th St.: Tuesday's Wall Street Journal says that there's flipper looking for a quick profit.

Not unusual in the real estate world, but given the ill feelings that the building has had no problem engendering (on QuidnuncRE, HERE), it's going to attract notice.  The article says that a buyer from China that bought a one-bedroom for $3.6 million on the Friday before Christmas listed it for $6 million on New Year's Eve.

The purpose of the article is to announce (a) that One57 is open, and (b) it is the tallest and most expensive residential building ever in New York City, with two duplexes that have sold for more than $90 milllion--at least until 432 Park Ave. and its $95 million penthouse opens sometime in 2015.

The article says that most of the condos at One57 are sold.

The WSJ article, 'New One57 Buyer Tries a Flip,' can be found HERE, with a subscription.

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