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Commercial Real Estate

Another penthouse sells for a big profit at 150 Charles St.

C.J. Hughes writes about real estate for Crain's New York Business, including the popular "Who Owns the Block" feature.
crainapiuser
Aug 07, 2023
1 month ago
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150 Charles St..jpg
Credit: CoStar
150 Charles St., West Village

A new month, a new major penthouse resale at 150 Charles St.

On the heels of the $52 million blockbuster trade in July for No. PHA at the celebrity-friendly West Village condo, the building’s other penthouse has now sold for $38.5 million, according to public records.

The seller, which used a shell company named Berkeley Interests LLC, in 2019 paid $31.9 million for the five-bedroom spread so was able to nab a notable 21% profit.

The buyer, also shielded, is described as 150 Charles PHB LLC. Lawyers signed the paperwork for both sides of the deal, which closed July 28 and turned up in the city register  Friday, according to the deed.

In line with the building’s tendency to cloak its VIP residents in secrecy, little could be gleaned about the parties on either side of the transaction. But the seller’s current address is listed as an office building near the White House on New York Avenue in Washington.

And the buyer’s address, a suite at an office building in NoMad, appears to be the home of Iconiq Capital, an asset management firm that often handles investments for tech billionaires.

Similarly, No. PHB also does not appear to have been publicly marketed, now or previously, so 150 Charles’ penchant for privacy appears to extend to its real estate brokers.

But before it was owned by Berkeley Interests, the 4,600-square-foot duplex, which also has 2,500 square feet of outdoor space, was the home of developer Steve Witkoff.

In 2015, Witkoff opened the doors to 150 Charles, a 91-unit offering that successfully sold $876 million in apartments. One went to Witkoff, No. PHB, which he purchased in 2016 for $24 million before selling it in 2019 to Berkeley Interests for $32 million, in a deal that was profitable in itself.

Among the boldfaced names who have lived in the building is musician Jon Bon Jovi, who once owned a unit on the fourth floor. Actor Ben Stiller and model Irina Shayk have also reportedly owned homes in the building, which is near the Hudson River.

Iconiq, meanwhile, has reportedly counted Meta-linked executives like Mark Zuckerberg, Chris Hughes and Sheryl Sandberg as clients. An email sent to the company’s California headquarters was not returned by press time.

C.J. Hughes writes about real estate for Crain's New York Business, including the popular "Who Owns the Block" feature.
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