A Two Bedroom Penthouse In Chatham Listed for Record Price at $18.9 Million

Related Cos. is a real estate development company with the background in luxury homes. They started off in the 1980s when they developed some low priced condominiums in Battery Park City. But they soon shifted to more luxurious development and had luxury houses for sale. Jeff Blau, the President of the company is on the market to sell his former bachelor penthouse atop the Chatham, a 34-story tower designed by Robert A. M. Stern at 181 E. 65th St. and developed by Related. Mr. Blau has listed his two bedroom penthouse for $18.9 million.

With a total space of 3,160 square feet the asking price is as high as $6,000 for a square foot. This would be a record price as only a tiny number of sales in Manhattan have previously achieved that. Chatham was Related’s first venture in the luxurious condo market. Mr. Stern who designed the building also bought one of the luxury houses on sale and has been living in the building since 2001. The luxury home of Mr. Blau on the top of the building has been priced so high because of some unique features like a 23-feet-high glass-walled dining room, a curved stainless-steel staircase, four terraces and views of Central Park seen over the tops of shorter Fifth Avenue co-op buildings. The view at least, will be very difficult to replicate anywhere else.

Chatham had set record prices for condos in the area as soon as it opened. Mr. Blau’s luxurious penthouse had never gone on the market and he had designed the interiors from scratch. The space has a contemporary look with dark wood floors and veneers, stainless steel, and a spiraling staircase between the floors. The picture-window views of Central Park and the Hudson River to the George Washington Bridge is the highlight of the luxury house on sale. The luxury home boasts of views in three directions. Leighton Candler, a broker at Corcoran Group who holds the listing said the duplex was unique and the price was based on unsolicited offers received earlier.

Via: online.wsj

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