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Downtown Manhattan apartment deal reached its peak price as sales at the notorious One High Line project gain momentum. The penthouse unit 36 closed for $47 million, according to public records. Initially listed for $65 million and later reduced to $52 million, the nearly 7,000-square-foot space sold for $6,780 per square foot.

    This sale marks the most expensive Downtown condo closing this year, as per an analysis of public records. The turnaround story for One High Line's towers at 500 West 18th Street has seen a significant shift from being considered overambitious to regaining its place in Manhattan's residential market.

    The project was initially developed by HFZ Capital but went into foreclosure after the company faced financial difficulties. The Witkoff Group and Access Industries acquired it for $900 million in 2021, followed by a refinancing deal worth $1.15 billion in August. Since then, construction has accelerated, and condo sales have picked up pace.

    The new development team has sold over half of its 236 units since closings began in August 2023, with total sales exceeding $800 million in the first half of the year. The building has seen four other penthouse deals close above $24 million, including a $26.6 million sale in October.

    Penthouse 36 boasts six bedrooms and offers stunning 360-degree views of the Hudson River and Manhattan skyline, along with a nearly 5,000-square-foot private terrace. One High Line's final plans include two towers, a hotel, spa, commercial space, and public plaza.