C
hristian Candy and his wife, Emily Crompton-Candy, are making a significant change to their New York real estate portfolio by trading in a historic townhouse for a luxurious penthouse at 111 W. 57th St., one of Manhattan's most iconic skyscrapers. The couple recently purchased the four-bedroom triplex penthouse for approximately $47 million, a substantial discount from its initial price tag of $66 million in 2020.

    The penthouse spans about 7,250 square feet and boasts breathtaking views of Central Park and the Statue of Liberty. Its interior features a spacious loggia, dining room, media room, and grand great room with 14-foot ceilings and floor-to-ceiling windows. The high-end finishes include smoke-gray oak floors, bronze hardware, and a corner kitchen with white quartzite counters.

    The Candys' decision to sell their current residence, a nearly 15,000-square-foot Beaux-Arts townhouse on East 74th Street, was made just days before purchasing the penthouse. The townhouse, which they bought in 2022 for $48 million, is now listed for sale at $70 million.

    Adam Modlin of the Modlin Group represented the couple in both transactions and noted that the adjusted pricing of the penthouse brought buyers back into the market. In fact, the building's sales have seen a significant uptick since the price correction, with Nikki Field of Sotheby's International Realty reporting over $285 million in sales and contracts since taking over marketing duties.

    The Candys' new home is part of 111 W. 57th St., also known as the city's skinniest tower, which has faced various challenges during its development. However, with discounts becoming more common in the building, buyers are now showing increased interest, particularly from domestic and European investors.