One57 foreclosure shatters price dreams at billionaires’ tower

A 4,483-square-foot apartment on One57’s 65th floor sold in April for $22.5 million, or 23 percent less than its 2014 purchase price, according to StreetEasy.

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FORBES reporter Morgan Brennan gets a tour of One57, also known as "billionaire building" located just south of NYC’s Central Park. One 57 is a 90-story condominium tower at 157 West 57th Street.

When a full-floor penthouse at Manhattan’s One57 sold at a foreclosure auction, it didn’t just settle an international mortgage gone bad. The deal also set a new price standard for the Billionaires’.

People on the move: Sept. 29

 · One57 Foreclosure Shatters Price Dreams at Billionaires’ Tower. The 6,240-square-foot condo spanning the skyscraper’s 79th floor sold for $36 million last week to an unidentified buyer, the highest of five bidders in addition to the lender. The price was 29 percent less than the $50.9 million that Nigerian businessman Kolawole akanni aluko paid for the apartment when he bought it new in 2014.

And there are currently 16 apartments at the building listed for sale, most. The success of One57 helped create the burgeoning “Billionaires'.

Billionaire's Row is headed toward Skid Row now that a second luxury. The building, known as One 57, is home to the city's only $100 million.

One57’s record-breaking foreclosure put on hold An auction for the city’s largest residential foreclosure has been canceled for now By Ameena Walker Updated Jul 19, 2017, 9:45am EDT

 · One57 Foreclosure Shatters Price Dreams at Billionaires’ Tower. The 6,240-square-foot condo spanning the skyscraper’s 79th floor sold for $36 million last week to an unidentified buyer, the highest of five bidders in addition to the lender. The price was 29 percent less than the $50.9 million that Nigerian businessman Kolawole Akanni Aluko paid for the apartment when he bought it new in 2014.

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The Bloomberg story (that I got to chime in on) lays out the details of the One57 auction sale: One57 Foreclosure Shatters Price Dreams at Billionaires' Tower.

Housing starts fell most in eight months in February U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage.Mortgage originations plunge, but subprime activity sees minimal decline Start of a New Trend? Pullback in subprime loans observed .. we saw a decline in subprime originations at the beginning of 2017, and for the first time in a number of years we observed this for consecutive quarters," said Ezra Becker, senior vice president of research and consulting for.Brooklyn renters get bargains even as buyers are priced out Now, Meier has heard from residential and commercial brokers working on deals with foreign buyers in the Bronx and Queens. He has a client from Singapore who recently bought three units as an.

One57 Foreclosure Shatters Price Dreams at Billionaires’ Tower. The price was 29 percent less than the $50.9 million that Nigerian businessman Kolawole Akanni Aluko paid for the apartment when he bought it new in 2014. The transaction marked the fourth time since 2015 that a resale condo at One57 traded at a loss from what the previous owner paid,

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