Chinese Billionaire Liu Yiqian Picks Up One57 Apartment for $23.5M—25% Below Ask

Published: November 5, 2016 | By: American Luxury Staff

A unit in One57, the 75-story midtown skyscraper completed in 2014, sold this week for a hefty discount from its original sale price. The 62nd-floor unit fetched $31.7 million in its first sale, and netted $23.5 million from Liu Yiqian, the Chinese billionaire businessman and art collector.

The seller had originally asked $41 million immediately after closing, but it looks like the resale market was a little softer than anticipated. The price dropped all the way down to a $25 million ask before the Shanghai-based Liu took a look.

Liu, who has made international news in recent years for a series of multi-million dollar art purchases on his American Express Black card—purchases which netted him a killing in airline miles—reportedly makes frequent trips to New York and will use the parkview unit as a vacation destination for his family.

The 4,500-square-foot condominium is perhaps most notable for the squat support columns that rise through the floor has a clean, light decorating principle, with tan and white walls and furniture set against dark flooring.

One57 made headlines shortly after opening when a penthouse unit broke the New York City apartment sales record at $100.5 million. The recent luxury market cool-off has dropped the ask on many of the building’s units.

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