R
obert Shafir, a former hedge fund executive, has recently purchased a penthouse at One High Line, a condo project developed by Steve Witkoff and Len Blavatnik. The penthouse, which spans 5,800 square feet and offers views of the Hudson River, was bought for $25 million, or approximately $5,200 per square foot, according to public records. Shafir's purchase comes after he sold his penthouse at 150 Charles Street for $52 million, which was $20 million more than he paid for it in 2016.
Shafir was already in contract to purchase the half-floor condo at 76 11th Avenue when it hit the market for $30 million in June 2023, as per Streeteasy. The development marketing firm Corcoran Sunshine, led by Deborah Kern and Steve Gold, is handling sales for the 236-unit building, which was previously known as the XI. The project was taken over by Witkoff Group and Access Industries after HFZ Capital faced financial difficulties, and sales were paused due to turmoil at the firm led by Ziel Feldman and Nir Meir, who is now accused of orchestrating an $86 million fraud scheme.
Since the rebrand, One High Line has seen significant progress, with some of its priciest units securing signed contracts. In June last year, a penthouse was sold for $52 million, while another penthouse found a buyer after asking $49 million earlier this year. The developers have announced that the project was the top-selling new development in Manhattan in the first half of the year, with sales totaling approximately $800 million.
To further solidify their investment, Witkoff and Blavatnik secured a whopping $1.15 billion loan from JP Morgan and Tyko Capital to refinance the project in 2024. The two-tower building offers a range of amenities, including a lap pool, jacuzzi, fitness center, golf simulator, and on-site parking. Buyers also have access to services at the planned Faena Hotel.
In related news, the summer market surge in NYC could potentially lead to a fall frenzy in the real estate market. This comes as Extell's Central Park Tower sees another sale, this time with a significant discount.
