Britain’s most prominent luxury developer drops $47M on a Billionaires’ Row penthouse
British real estate developer Christian Candy and his wife, Emily Crompton-Candy, are shaking up their New York portfolio with a move from a historic townhouse to one of Manhattan’s most high-profile skyscrapers.
The couple recently acquired a four-bedroom triplex penthouse at 111 W. 57th St. for approximately $47 million, people familiar with the transaction told the
The unit was initially priced at $66 million in 2020, reflecting a deep discount amid a broader trend of luxury price corrections along Billionaires’ Row.
Their new residence spans about 7,250 square feet and offers sweeping views of Central Park and the Statue of Liberty.
The home features a 1,240-square-foot loggia, a dining room, a media room, and a dramatic great room with 14-foot ceilings and floor-to-ceiling windows.
The interiors include smoke-gray oak floors, bronze hardware and a corner kitchen outfitted with white quartzite counters.
The deal closed just days after the Candys put their current residence — a nearly 15,000-square-foot Beaux-Arts townhouse on East 74th Street — on the market for $70 million, The Post reported.
The couple had purchased the six-bedroom home in 2022 for $48 million, according to public records.
Adam Modlin of the Modlin Group is handling that listing and represented the couple in their Billionaires’ Row purchase.
The Upper East Side townhouse is roughly twice the size of the new penthouse and features lavish amenities including a billiards room clad in custom Hermès leather.
Christian Candy, along with his brother Nick, gained global prominence developing the ultra-luxury One Hyde Park in London.
Over the years, he and Emily have amassed a network of global real estate holdings and previously resided in the Bahamas.
The Candys declined to comment on their latest transaction.
Their new building, 111 W. 57th St., is also known as the city’s skinniest tower.
Since breaking ground in 2014, it has faced multiple hurdles — including lawsuits, internal disputes among developers and construction delays — that initially hindered sales.
Discounts have become common in the building: one unit recently sold for $17.5 million after being listed at $30 million in 2020, according to StreetEasy.
Nikki Field of Sotheby’s International Realty, whose team took over marketing from the Corcoran Group last summer, told the Journal they’ve seen a marked uptick in buyer interest.
“The adjusted pricing brought people back and gave them a comfort level,” Field said, noting that her team has inked more than $285 million in sales and contracts since taking over, with the tower now roughly 75% sold.
Most buyers are domestic, though Field added there is a small number from Europe investing in the building.
Similar pricing adjustments are being seen at neighboring developments, including Central Park Tower, as developers compete for a limited pool of ultra wealthy buyers.
