New York City Real Estate

Chinese billionaire spends $23.5mm on a condo in Manhattan

Chinese billionaire Liu Yiqian paid $23.5 million for a three-bedroom pad at One57. According to the Wall Street Journal, the billionaire acquired the 4,500-square-foot unit on the 62nd floor for what he called "a good price."

The apartment was originally asking $41 million in 2014 before going through several price drops to its most recent asking price of $25 million.

The luxury real estate market in Manhattan has been soft due to a large supply of new luxury condos all over the city.

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Source: Curbed, October 25 2016

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