The value of a four-bedroom apartment in a popular downtown Manhattan area has significantly risen within just four years, offering breathtaking views of New York City.
The condo, located at 56 Leonard Street, Unit 47W, in the upscale neighborhood of Tribeca, is poised to be sold quickly. However, the prospective buyer will need to allocate nearly $18 million to reside in this “sky mansion.”
The property is currently valued at more than $17million, up from the market estimate of $9million from the summer of 2021, according to Newsweek.
Originally sold for $13,576,612 in 2016, the property is now listed at $17,995,000 as of December 2024, as indicated on its Zillow listing.
However, Viktoriya Bastiyali, the realtor on the listing, told DailyMail.com that the market value of the home in 2021 was actually much higher.
‘Growing confidence in the market’s resurgence, price adjustments, and an improving economic outlook have been critical drivers in the uptick in sales,’ a Corcoran Group report said about Manhattan’s market.
Manhattan co-op and condo sales are up 19 percent year-over-year, according to the report.
Despite the Leonard Street unit’s steep price tag, the condo comes with luxurious amenities, including a private elevator, three balconies, and living in a building only constructed in 2015 – a rare occurrence in a neighborhood full of converted warehouses.
56 Leonard Street, Unit 47W – located in the celebrity-rich Tribeca neighborhood – is expected to sell quite quickly, but the new homeowner will have to dish out nearly $18million to live in a ‘house in the sky’
The property is currently valued at more than $17million, up from the market estimate of $9million from the summer of 2021. However, Realtor Viktoriya Bastiyali told DailyMail.com that the market value of the home in 2021 was much higher than $9million
An office space in the room with One World Trade Center seen outside the window
The property last sold for $13,576,612 in 2016 before being listed for the current price of $17,995,000 in December 2024
The building – also known as the ‘Jenga Tower’ – was designed by famed architects Herzog & de Meuron and the residential structure also features a sculpture by Anish Kapoor, who is the owner of the home.
The four-bed, four-and-a-half-bath residence has views of the Hudson River and the One World Trade Center, as well as views from the North, West, and South sides of the home.
Nearly 500 square feet of the 3,576-square-foot home belongs to outdoor spaces, including balconies.
It also features 12-foot ceilings that feature floor-to-ceiling windows and has a state-of-the-art kitchen with Corian countertops and a Sub-Zero refrigerator, according to Bastiyali.
It also features a six-top stove and Miele double oven, has two dishwashers, and a sub-zero wine cooler.
The ritzy kitchen also has satin-etched glass cabinets, according to the listing.
Amenities available to building residents include a 75-foot lap pool, a sundeck, a private fitness center, a residents’ lounge, and a dining area.
An important amenity, and an especially rare one for New Yorkers, is the on-site parking garage.
The building – also known as the ‘Jenga Tower’ – was designed by famed architects Herzog & de Meuron and the residential structure also features a sculpture by Anish Kapoor
It also features 12-foot ceilings that feature floor-to-ceiling windows and has a state-of-the-art kitchen with Corian countertops and a sub-zero refrigerator, according to Bastiyali
The four-bed, four-and-a-half-bath residence has views of the Hudson River and the Freedom Tower, as well as views from the north, west, and south sides of the home
Despite the Leonard Street unit’s steep price tag, the condo comes with luxurious amenities, including a private elevator, three balconies, and living in a building only constructed in 2015 – a rare occurrence in a neighborhood full of converted warehouses
One of the bathrooms in the home with views of New York City from the floor-to-ceiling windows
Amenities available to building residents include a 75-foot lap pool, a sundeck, a private fitness center, a residents’ lounge, and a dining area (pictured: a stairwell in the building)
‘Rising above its surroundings, 56 Leonard has become one of the most coveted and iconic buildings in downtown,’ Bastiyali said in the listing.
56 Leonard is also remarkable due to its location in Tribeca, which doesn’t often offer buildings with great views.
‘Historically, Tribeca was known for its warehouse conversions, which, while charming, were constrained in height and lacked the expansive views and modern amenities that a purpose-built tower like 56 Leonard could provide,’ Real Estate Agent Michelle Griffith.
‘As the first new development in the neighborhood to bring such panoramic views and elevated living, it represented a shift in the area’s real estate landscape… The building introduced luxury amenities that were unprecedented in the area at the time.’
StreetEasy expects the luxury market to ‘boom’ in 2025 after ‘lukewarm’ numbers in 2023 and 2024.
