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Sky-High Splendor: Aman New York's 24th Floor Unit Sells for $61.58M, Redefining Luxury Living on Fifth Avenue

Aman New York's

In the midst of a series of substantial luxury transactions, a lavish residence in New York City has recently changed hands for an impressive $61.58 million. Situated on the 24th floor of Fifth Avenue's Aman New York, this full-floor unit, encompassing approximately 6,300 square feet, was acquired by a foreign buyer in an off-market deal.


Initially entering into contract about six years ago during the project's developmental phase, the unit was originally priced at over $70 million. The recent closure of the deal, as reported by the Wall Street Journal, revealed that the final sale price amounted to $61.58 million. The purchaser, identified as Terence Chan, is a Hong Kong-based private equity executive and chairman of the investment company Bay Area Capital Partners, according to the Real Deal. Aman played a dual role in facilitating the transaction, overseeing both buyer and seller interests.


Referred to as residence 24A, this spectacular dwelling is the sole occupant of the 24th floor within the Midtown building, boasting a total of 22 apartments. Nestled across from Trump Tower at 730 Fifth Ave, Chan's new residence encompasses four bedrooms, five bathrooms, a library, and a home office.


This noteworthy acquisition adds to a series of high-profile transactions within the luxury real estate sphere. Notably, shortly after the commencement of the new year, an undisclosed buyer entered into a contract for a duplex in Central Park Tower, surpassing the $100 million mark. Similarly, another anonymous individual spent $72.5 million on a double-wide townhouse in Greenwich Village.


Aman New York's

Aman New York's unit, along with the other residences in the building, occupies space above the hotel rooms and amenities. These offerings include a three-story spa, two restaurants, a fitness center, and a 67-foot indoor swimming pool. Condo owners have the option to avail hotel services and become members of the Aman Club, granting access to the spa, as previously reported when a 21st-floor condo sold for $53 million in 2022.


Closings at the property commenced in 2022 after the completion of its conversion. Notably, the penthouse, which went into contract for $74.34 million in July of the same year, has yet to conclude. Despite mixed reviews for the building's club, featuring a $200,000 initiation fee, the hotel portion has garnered recognition, with rates starting at $1,750 and earning a spot among the world's top 50 overnight lodgings, securing the 25th position.


Aman New York's

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