realestate

Luxury High-Rise Hangs Porsches as Incentive for Penthouse Buyers

Penthouse buyers at Skyline Tower get a free Porsche with purchase.

A
t the 67-story Skyline Tower in Long Island City, buyers of the remaining penthouses will receive a Porsche 911 Turbo S as part of their purchase. This offer is an attempt by Eric Benaim's brokerage Modern Spaces to boost sales, with seven of the 17 available penthouses having already sold without this incentive. Those who don't want the car can opt for a $200,000 credit instead.

    The remaining penthouses have last asking prices ranging from $1.8 million to $3.9 million, with Benaim attributing slow progress to sticker shock. He notes that Manhattan standards are different from Long Island City's, where this offer is seen as a way to attract buyers. The sold penthouses have set area records, including one that broke the record for price per square foot in Queens.

    Sales of Skyline Tower initially launched with Nest Seekers in 2021 and later transitioned to Modern Spaces. Despite initial projections of a $1.1 billion sellout, sales progress had slowed down by August 2022, with only 509 units sold out of 802. However, the building has since added 78 closings to its tally.

    Benaim expects to sell the remaining penthouses by the end of 2024 or early 2025. The offer does not come with a parking spot, but the building provides valet parking.

Porsche-hung high-rise building in city center offers luxury penthouses with exclusive incentives.