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10 sullivan street, soho penthouse, penthouse duplex, madison equities, property markets group, soho condos 10 Sullivan Street's 5,503-Square-Foot Penthouse Is Now Off The Market. Photo via Douglas Elliman
A penthouse on 10 Sullivan Street in SoHo went into contract last week for a dizzying $25 million. Since sales on luxury buildings diminished this past year, co-developers Property Markets Group and Madison Equities had a tough time selling the property at the original $45 million ask. Realizing it would be difficult to find a buyer in this current economic climate, they decided to split the 8,359-square-foot triplex into two grandiose units: a full-floor, 2,950-square-foot condo for $10 million, and the 5,503-square-foot duplex. With the recent sale of the penthouse duplex, that decision certainly paid off.
When initially listed, the 5-bed, 6-bath penthouse unit had a $29 million ask. In November 2016, the price was cut by $1 million, which was enough to pique the interest of a prospective buyer. With some coaxing as well as the installation of a rooftop hot tub, the unit finally sold for $25 million. The remaining condo is currently listed with a $10 million asking price.
10 sullivan street, soho penthouse, penthouse duplex, madison equities, property markets group, soho condos Kitchen Photo via Douglas Elliman
10 sullivan street, soho penthouse, penthouse duplex, madison equities, property markets group, soho condos Interiors via Douglas Elliman
One of the most notable attractions of the penthouse is the great room, which features 26-foot ceilings and three floor-to-ceiling walls of curved-glass that offer extensive city views. Other penthouse features include a private elevator vestibule, a beautiful entry foyer, 2 terraces, oil-rubbed Danish oak floors throughout, and a Poliform windowed chef’s kitchen complete with a large island, walnut cabinets, Sub-Zero, Miele, and Wolf appliances, and Lugano marble countertops. All secondary bedrooms even have their own windowed en-suite bathrooms. Furthermore, the master bedroom boasts an unheard-of 303-square-foot walk-in wardrobe and its master bath contains an opulent bath with Dolomite white marble, a double vanity with Lefroy Brooks fixtures, a freestanding soaking tub, and a separate steam shower. To top it all off, the penthouse also has a private rooftop terrace with 360-degree views, an outdoor kitchen and a powder room.

Additional apartment amenities include radiant heat flooring throughout, a Savant home automation system, and motorized window shades. 101 Sullivan Street's building amenities include a doorman, concierge, onsite gym, parking and storage.
10 sullivan street, soho penthouse, penthouse duplex, madison equities, property markets group, soho condos Private Rooftop Terrace. Photo via Douglas Elliman
According to Bloomberg, the first week of January marked the strongest start in sales, since 2014. At $4 million or higher and 26 contracts in that range signed from January 2 to January 8, things are looking up.
10 Sullivan Street rose from a humble lot that once held a gas station and car wash. Rising 16 stories above the neighborhood, it now stands as the neighborhood’s tallest residential building. Acclaimed architect Cary Tamarkin wanted to create a modern take on Soho’s rich architectural legacy, shaping the SoHo structure to resemble a boat, and its triangular shape, 360-feet-long and 92-feet-wide at its base, bears reminiscence to the Flatiron Building. The hand-laid black-and-blond Norman brick exemplifies industrial inspiration, while the curved concrete, brick, glass, and metal speak 'modernity'.
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