Thursday, 23 June 2016

A Walker Tower Penthouse Was Secretly Flipped For $4M Profit

The apartment was never listed on the open market but sold for $45 million

It’s been a while since we’ve checked in with Walker Tower, whose multiple penthouses have been the source of much real-estate gossip over the past few years. And even though most of those units have sold, there’s still plenty of room for more speculation over who is occupying these über-pricey homes.

For instance, an interesting tidbit popped up in ACRIS today: It appears that the anonymous LLC that bought Penthouse 2, BBC Chelsea, flipped the apartment for a tidy $4 million profit. The buyer is yet another anonymous LLC, not-so-cleverly named Walker Tower 1-8 LLC, and they picked it up for $45 million.

The buyers behind BBC Chelsea (which may or may not be LA Fitness CEO Louis Welch) paid $40.73 million for the apartment in November 2014, intending to use it as a pied-a-terre; perhaps they weren’t using it as much as they expected, hence the flip. Interestingly, the apartment doesn’t appear to have ever hit the open market.

In other Walker Tower news, it looks like Penthouse 1—once asking $70 million, and last listed at $55 million—is now in contract, though we’ll have to wait for the official closing record to come through to see how successful the attempted flip was. Penthouse 3, asking just about $40 million, is still up for grabs.

All Walker Tower Coverage [Curbed]


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