What's Happening?
A penthouse at 125 Perry Street in Manhattan, originally a parking garage, is listed for $85 million and could set a new price record for Downtown Manhattan. The 7,000-square-foot residence features six bedrooms, nine baths, and nearly 3,000 square feet
of outdoor space. The building's transformation was led by Leroy Street Studio, blending contemporary architecture with the original character of the century-old structure. The penthouse offers skyline views through glass walls and includes amenities such as a full-time doorman, private driveway, weight room, and sports court. The listing is competing with another nearby condo that entered contract for $87.5 million.
Why It's Important?
The potential record-breaking sale of this penthouse highlights the ongoing demand for luxury real estate in Manhattan, particularly in the West Village. As one of the most sought-after neighborhoods, properties like this attract significant attention from high-net-worth individuals. The transformation of a former parking garage into a luxury residence reflects broader trends in urban development, where historical buildings are repurposed to meet modern living standards. This sale could influence future real estate developments and pricing strategies in the area, impacting both buyers and sellers in the competitive Manhattan market.
