Vlad Doronin’s luxury condo conversion hit a two-year high for Manhattan luxury residential sales.
Developer OKO Group has sold an Aman Manhattan penthouse for $135 million, making it the highest-selling penthouse so far this year and priciest since 2022, Bloomberg reported.
The five-story apartment inside the Crown Building on Fifth Avenue is about 12,500 square feet of unfinished space, making the purchase more than $10,000 per square foot. OKO Group’s in-house brokerage team handled the sale to an undisclosed buyer.
The deal beats the $115 million top sale of Extell Development’s Central Park Tower penthouse sold by broker Frederik Eklund last month. The Real Deal previously reported that sale marked the city’s first over $100 million since 2022.
The residential luxury market has slowed down significantly over the past two years. One of the last deals over $100 million was by billionaire investor Daniel Och’s Central Park South penthouse in 2022, which sold for $188 million. The Aman deal suggests the luxury real estate market may be gaining momentum.
Aman’s CEO Doronin founded the development firm that completed the conversion of the building. The space is a former office building serving as a luxury hotel and residences with 22 condos, 80 hotel rooms, a spa, fitness center and restaurants.
– Christina Previte