Real Estate

Vlad Doronin Buys $135M Aman NY Penthouse, 2023's Priciest Sale

Vlad Doronin buys $135M Aman New York penthouse, setting 2023's highest real estate transaction in NYC.

By Doug Elli

7/11, 15:28 EDT

Key Takeaway

  • Vlad Doronin, founder of OKO Group, purchased a $135 million penthouse at his Aman New York condo conversion.
  • The 12,500-square-foot unit is the priciest sale of 2023 and was financed by a $78 million mortgage from J.P. Morgan Chase.
  • Deals at Aman New York account for three of the top ten most expensive sales this year, highlighting strong demand for luxury real estate.

A Record-Breaking Sale in Manhattan

In a landmark transaction, developer Vlad Doronin, founder and chairman of OKO Group, has purchased a five-story penthouse at the Aman New York for $135 million. This sale, which took place at the Crown Building on Fifth Avenue, marks the highest real estate transaction in New York City so far this year. The 12,500-square-foot unit, sold as an unfinished space, underscores the continued allure of ultra-luxury properties in Manhattan despite a broader slowdown in the high-end real estate market.

Details of the High-Profile Deal

The penthouse, occupying floors 22 through 26 of the Crown Building, was sold for over $10,000 per square foot. The transaction was facilitated by OKO Group’s in-house brokerage team, with Jason Jacobson, an attorney for OKO, signing both sides of the deal. The purchase was financed by a $78 million mortgage from J.P. Morgan Chase. This sale surpasses the previous top sale of the year, a $115 million penthouse at Central Park Tower, highlighting the significant demand for prime real estate in New York City.

The Luxury Real Estate Market's Dynamics

The sale of the Aman New York penthouse is a notable event in a market that has seen a slowdown in recent years. According to Bloomberg, the luxury real estate market has experienced fewer transactions over $100 million since 2022. However, the Aman New York has bucked this trend, with three of the ten most expensive sales this year occurring at this location. This suggests a potential resurgence in the high-end market, driven by unique and prestigious properties.

Broader Implications for the Real Estate Sector

The Aman New York sale reflects broader trends in the luxury real estate market, where unique, high-value properties continue to attract significant interest. The Crown Building, with its rich history and prime location, offers unparalleled amenities, including a luxury hotel, spa, fitness center, and restaurants. This transaction not only highlights the enduring appeal of New York City’s prime real estate but also signals confidence in the market’s recovery and growth potential.