Dell Founder Was The Record-Setting Buyer Of One57's Penthouse Condo
The identity of the buyer in New York City's most expensive condo sale ever has been revealed.
Michael Dell, founder of computer and tech manufacturer Dell, paid $100.47M for the two-story penthouse at Extell Development's One57 supertall in 2014, the Wall Street Journal reports. The nearly 11K SF apartment contains six bedrooms and six bathrooms, and Dell enlisted Miró Rivera Architects to renovate the unit after he purchased it.
Dell is currently the owner of the most expensive condo in two of the biggest cities in the U.S., as he is purchasing a penthouse in Boston's Four Seasons Hotel & Private Residences One Dalton, which was listed at nearly $40M, placed under contract last year.
When the 1,004-foot One57 began listing condos in 2011, it was among the first forays into new, ultra-luxury condo developments that defined 57th Street along the southern edge of Central Park as Billionaire's Row. Though Dell's purchase remains the only sale in New York to crack $100M, Extell's fortunes at the building have since turned.
In May, a 56th floor apartment at One57 went into foreclosure, the first Billionaire's Row condo to do so. The three resales at the tower since the start of 2016 have gone for an average of 24% less than their original prices, according to the WSJ. Mayor Bill de Blasio also recently announced that the city would be converting the building that abuts One57's rear into a homeless shelter, angering some residents at the building.