By Kim Velsey 1/15 4:51pm

Manhattan Transfers

sale!

Aby Rosen Sells Soho Penthouse at a Steep Discount

They say that staging an apartment is a sure way to fetch a higher price. So imagine the markdown that Aby Rosen would have taken on his penthouse at 350 West Broadway if he hadn’t decorated the walls of the building with his personal art collection.

Records show that the 5,912-square-foot spread has sold for $17.56 million, which looks impressive by itself and not bad compared to the most recent $20.65 million asking price. But consider that the sponsor-unit was asking $26 million when it came on the market in December 2009. Either Soho’s appeal is dwindling in inverse proportion to the hordes of shopping bag-toting tourists mobbing the streets or real estate there isn’t quite as valuable as Mr. Rosen had hoped. Read More

By Kim Velsey 12/05/12 7:00pm

Manhattan Transfers

The austere penthouse.

Aby Rosen’s Artsy Penthouse at 350 West Broadway Finally Finds a Buyer

Now that all the neighborhood galleries have fled to Chelsea, one of the few places that you can still count on to view art is developer Aby Rosen‘s Soho condo development at 350 West Broadway.

Mr. Rosen outfitted the lobby and model unit of the high-end seven unit building with paintings from his own private collection. In the midst of a recession, not even staging the space with valuable art and sculpture was enough to move the pricey units. But what a difference a few years and a $6 million discount make: the penthouse, which was last asking $20.65 million, is now in contract. Read More