Stephen Ross sells his Manhattan penthouse for less than he expected

Stephen Ross sells his Manhattan penthouse for less than he expected

Stephen Ross, the Detroit-born founder and chairman of the real estate development firm Related Companies and owner of the Miami Dolphins, has sold his Manhattan penthouse, although for less than he had planned.

According to official sales records, the approximately 8,300-square-foot penthouse in the Deutsche Bank Center — once known as the Time Warner Center and created by Related over two decades ago — changed hands for $40 million, as reported by Crain’s. That is $35 million less than the $75 million Ross first sought for the property in 2019 — a figure that made it one of the most expensive houses for sale in the city at the time.

Ross now resides in a penthouse farther west in Hudson Yards.
Ross now resides in a penthouse farther west in Hudson Yards.
Getty Images
Related also developed the Deutsche Bank Center, which was previously known as the Time Warner Center -- and is known for its ground-level luxury shops.
Related also developed the Deutsche Bank Center, which was previously known as the Time Warner Center — and is known for its ground-level luxury shops.
Bloomberg via Getty Images

The residence at 25 Columbus Circle was most recently listed for $49.9 million, according to listings portal StreetEasy, after its $75 million asking price dropped to $59 million in the summer of 2021 when it was marketed by a new agency. The deal for the five-bedroom property was signed in October. Crain’s reports that the purchaser is a shell company named US No. 9.

Ross has recently relocated to a penthouse at 35 Hudson Yards, which is located in Related’s upcoming March 2019 megadevelopment on the far West Side.

This recently sold penthouse offers panoramic views of the city and beyond, including the vastness of Central Park in front of the building complex. There are five bedrooms, six complete bathrooms, a powder room, and ceilings that exceed 11 feet in height. Additionally, the apartment designed by Tony Ingrao and Randy Kemper has African bubinga wood flooring, a 22-foot-long dining room with custom mouldings, and a chef’s kitchen with high-end equipment. Meanwhile, the walls of the library are upholstered with hides, and the home gym overlooks the Empire State Building and the Hudson River from the southwest.

The listing was handled by Adam Modlin of Modlin Group.

»Stephen Ross sells his Manhattan penthouse for less than he expected«

↯↯↯Read More On The Topic On TDPel Media ↯↯↯