At Least Europeans Are Still Buying Expensive FiDi Condos

Not all is doom and gloom in the real estate world! The conversion of 40 Broad Street, called The Setai (You know, the one that boasts, "There's no word for it in English. Perhaps because nothing like it has ever before existed.") has sold a penthouse for $7.82 million to a "European entrepreneur," Braden Keil reports today. That would top the $5 million paid by a "Scandinavian financier" for a penthouse at the William Beaver House, and the $4.7 million paid by a "Madrid businessman" for another Beaver bite before that. So, what will the buyer of the Financial District's most expensive apartment receive? A 3,424-square-foot unit with 12' ceilings, three bedrooms, three-and-a-half bathrooms, a two-sided fireplace, retractable wall of glass windows, sauna and Jacuzzi, an electronics package with six LCD TVs equipped with Blu-ray players and a lingering stench of death hanging over the whole area. Hey, speaking of The Setai, the building just won something called a CNBC International Property Award for Best Re-Development in the U.S. Last year's winner? The Plaza. Memo to penthouse buyer: Make sure you get a walk-through before closing.
· Financial gains [Gimme Shelter, third item]
· The Setai coverage [Curbed]
· The Setai New York [Official Site]For more stories from Curbed, go to curbed.com.