The stunning NYC condo that has had its value doubled in just four years
A four-bedroom condominium located in a trendy downtown Manhattan neighborhood has significantly increased its value in just four years with stunning views of the Big Apple.
56 Leonard Street, Unit 47W – located in the celebrity-rich neighborhood of Tribeca – is expected to sell quite quickly, but the new homeowner will have to spend almost $18 million to live in a “house in the sky.”
The property is currently valued at over $17 million, up from the summer 2021 market estimate of $9 million. Newsweek.
The property last sold in 2016 for $13,576,612 before being listed for the current price of $17,995,000 in December 2024. Zillow List.
However, Viktoriya Bastiyali, the agent on the listing, told DailyMail.com that the home’s market value was actually much higher in 2021.
“Growing confidence in the market recovery, price adjustments and the improving economic outlook have been crucial factors for the increase in sales,” a spokesperson said. Corcoran Group Report said about the Manhattan market.
According to the report, sales of co-ops and condos in Manhattan are up 19 percent year over year.
Despite the Leonard Street unit’s high price tag, the apartment comes with luxury amenities including a private elevator, three balconies, and living in a building that was only built in 2015 — a rare occurrence in a neighborhood full of converted warehouses.
56 Leonard Street, Unit 47W – located in the celebrity-rich neighborhood of Tribeca – is expected to sell quite quickly, but the new homeowner will have to shell out almost $18 million to live in a “house in the sky.”
The property is currently valued at more than $17 million, up from the $9 million market estimate from summer 2021. However, real estate agent Viktoriya Bastiyali told DailyMail.com that the home’s market value was much higher in 2021 than $9 million.
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 in December 2024 for the current price of $17,995,000
The building – also known as the ‘Jenga Tower’ – was designed by renowned architects Herzog & de Meuron and the residential structure also features a sculpture by Anish Kapoor, the home’s owner.
The four-bedroom, four-and-a-half-bath residence offers views of the Hudson River and One World Trade Center, as well as views from the north, west and south sides of the house.
Nearly 5,000 square feet of the 3,576-square-foot house belongs to outdoor spaces, including balconies.
It also features 10-foot ceilings with floor-to-ceiling windows and a state-of-the-art kitchen with Corian countertops and a Sub-Zero refrigerator, Bastiyali said.
It also features a six-burner hob and a double Miele oven, two dishwashers and a sub-zero wine cooler.
The chic kitchen also has satin-finished display cabinets, according to the listing.
Amenities available to the building’s residents include a 75-foot swimming pool, sundeck, private fitness center, resident lounge and dining area.
An important amenity, and especially rare for New Yorkers, is the on-site parking garage.
The building – also known as the ‘Jenga Tower’ – was designed by renowned architects Herzog & de Meuron and the residential structure also features a sculpture by Anish Kapoor
It also features 10-foot ceilings with floor-to-ceiling windows and a state-of-the-art kitchen with Corian countertops and a subzero refrigerator, Bastiyali said.
The four-bedroom, four-and-a-half-bath residence offers 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 high price tag, the apartment comes with luxury amenities including a private elevator, three balconies, and living in a building that was only built in 2015 — a rare occurrence in a neighborhood full of converted warehouses.
One of the bathrooms in the house with views of New York City from the floor-to-ceiling windows
Amenities available to the building’s residents include a 75-foot swimming pool, sundeck, private fitness center, residents’ lounge and dining area (photo: a stairwell in the building)
“56 Leonard rises above its surroundings and has become one of the most coveted and iconic buildings in downtown,” Bastiyali said in the listing.
56 Leonard is also notable for its location in Tribeca, where buildings with great views are not often found.
“Historically, Tribeca was known for its warehouse conversions, which, while charming, were limited 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 a high level of 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 ‘grow’ in 2025, after ‘lukewarm’ figures in 2023 and 2024.