The cantilevered box of condos at 100 Norfolk Street debuted late last year, and became an instant eyesore, following in the grand tradition of Blue just across the street. Now, word is circulating that its crown jewel penthouse just closed for an eye-popping $6.73 million.
The real estate PR machine is calling this transaction the “most lucrative sale of all time for the area.” Elliman Broker Ariel Tirosh closed the sale, and was quick to celebrate the so-called “Lower East Renaissance” currently underway, which is just broker-babble for hyper-gentrification.
“This record-breaking sale demonstrates a major shift in the Lower East Side market as one of the most sought-after locations within the city for buyers and developers alike,” Tirosh noted in a statement. “With so much continual development on the horizon, the neighborhood is poised to continue on this track and I am excited to continue my support of this growth through my work.”
100 Norfolk has been exactly five years in the making. The penthouse is, naturally, the most expensive unit at 100 Norfolk. It was taken off the market four years ago when Emma Hsieh, a Taiwanese-born real estate investor and owner of Nitecap (now in the old 151 space), contracted to purchase the unit. The sale was only recently finalized.
This development, a so-called prelude to Essex Crossing, was first unveiled to the community June 2013. Brought to you by Adam America Real Estate and the Horizon Group (designed by ODA), 100 Norfolk Street sits at twelve stories and sports 38 high-end apartments split between studio, one-, two- and three-bedroom residences. It sits atop the site that previously housed the refrigeration units and offices for Ratner’s.