NYC Developer Rosen Buys $7.6 Million Condo in Another's Project

(Bloomberg) -- Developer and art collector Aby Rosen just paid $7.6 million for a Manhattan condo -- in another builder’s project.

Rosen, through a trust managed by him and his former wife Elizabeth, purchased a three-bedroom apartment at 42 Crosby St., the 10-unit Soho project by Atlas Capital Group, according to New York City property records filed this week. Apartment 4N, with three bedrooms and 2,798 square feet (260 square meters), comes with a 213-square-foot balcony and a gas fireplace.

Rosen’s decision to buy was quick -- and he got a discount. The Rosen Settlement Trust signed a contract on March 19, and the deal closed nine days later, property records show. The purchase price was 9.5 percent less than what the developer sought when the unit was first listed in September 2016 at $8.4 million, according to StreetEasy. In between, the asking price was trimmed to $7.95 million, the listings website shows.

The ground-up project was designed by architect Annabelle Selldorf. Residents have access to a car elevator that leads to an underground garage, where parking spots were listed at $1 million.

Rosen, who declined to comment on the purchase through a spokeswoman, knows the state of Manhattan’s luxury market well. He is marketing condos at 100 E. 53rd St., the Norman Foster-designed tower where a penthouse is listed for $65 million --and still available.

©2018 Bloomberg L.P.

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