Hall of mirrors.
Real Estate

West Side Swap: One57-dwelling Financier Drops Old Place for $4.3M

Eye lashes batted rather emphatically back in October when One57 saw its first property flip. The initial buyer of a three bedroom on the 58th floor, one Investor Sso Enterprises, resold the condo for $34 million, having paid a mere $30.55 million just five months earlier. Observers saw evidence of runaway speculation, greedy calculation and, to be sure, a healthy dose of good, old-fashioned silliness. (“Oy vey! Only in New York!”) But to the buyer of the marked up spread, the hedge fund and private equity manager Harvey Sandler, the deal must not have looked all that bad—and a man in his position ought to know.

Read More