Copyright New York Post
The top of this century-old parking garage is looking for an $85 million buyer. The forthcoming penthouse pad sits atop 125 Perry St., Mansion Global reported. And if it sells for that sum, it could break the record for the most expensive ever sold in downtown Manhattan. The squat, brick building on a prime corner of the West Village is in the midst of a bold transformation: Goodbye Greenwich Village Garage, hello boutique condominium. The up-and-coming development, repped by Jim St. André and Stephen Ferrara of Compass, is part of a broader push to meet new demand for luxury condos in the West Village. The hip enclave has been traditionally sought out by the city’s moneyed set for its coveted supply of townhomes, but brokers and developers say that’s all changing. An $85 million luxury condo in the West Village would’ve sounded like an oxymoron not so long ago. A penthouse on nearby Charles Street set a Downtown Manhattan record in March when it sold for $60 million off-market. And this parking lot penthouse has plenty to offer. The glass-wrapped unit, officially named Penthouse East, spans 7,700 interior square feet, with six bedrooms and 10 bathrooms. It boasts three large terrace spaces across 2,800 square feet, including the building’s rooftop. “The space, privacy and indoor-outdoor connections of this penthouse, while retaining the character that draws people to the West Village in the first place, make it the most significant residence available downtown,” St. André told The Post. The 125 Perry St. condominium — developed by Alf Naman Development with Ascendant Capital Partners — will feature just seven homes total. Shared building amenities will include an indoor sports court and a private driveway with parking. Completion is slated for early 2027, but buyers are already taking an eager interest. A majority of the building’s seven residences entered contract before construction began, according to marketing materials. That includes the $85 million unit’s neighbor, dubbed Penthouse West. It reportedly found a buyer in April for $57.5 million, despite lacking the same east-facing views and sprawling outdoor space as Penthouse East. The architect and designer of 125 Perry St., Leroy Street Studio, chose to maintain the parking garage facade, including the bold, white lettering advertising “GREENWICH VILLAGE GARAGE.” Luxury buyers want privacy, and a condominium that looks like a parking garage can certainly offer that. These are the same buyers prioritizing condos over the village’s historic townhomes. It’s all increasingly scarce real estate for New York’s new elite, eager to abandon the old ways of uptown luxury for more artsy environs. “At the top of the market, the West Village is the most in-demand neighborhood in Manhattan,” St. André said. “When something truly special comes along there is a major response, and we have seen that already at 125 Perry St. and with other recent record-breaking deals.” All seek a slice of that ever-shifting West Village cool — a vibe so sought-after that its devotees earned a recent viral profile in The Cut entitled, “It Must Be Nice to Be a West Village Girl.” The reality is that supply is tight and demand is high, with the Steve Cohens and Sarah Jessica Parkers of the world ever-eager to call the enclave home. Until that changes, it’s likely that there’s many more 125 Perry Streets and record-setting penthouses headed downtown.
