The Sherry-Netherland Penthouse is Back on the Market - $78 Million

In early 2015, Real Estate Agent Kathy Sloane made headlines for selling a penthouse at Fifth Avenue's famed Sherry-Netherland for just shy of $70 million. For the first time, the co-op board permitted a purchase by a foreign buyer, allowing a Chinese buyer to take ownership of the lavish apartment. In October of the same year, Kathy Sloane and Brown Harris Stevens Real Estate placed the property back on the market, this time for a record $86 million, or $9,500 per square foot.

The seller reduced the price to $78 million in June of 2016, reflecting his serious intentions to sell the property. This price point would still make the apartment the most expensive co-op ever sold, beating out the $77.5 million apartment currently owned by Ukrainian billionaire Leonard Blavatnik just up the street.

The penthouse features seven bedrooms, eight bathrooms, and 2,000 square feet of outdoor terrace space. At $78 million, this newly-reduced apartment works out to approximately $8,666 per square foot.