Wes Edens, owner of the Milwaukee Bucks, has spent $20 million on a swanky Manhattan penthouse, reports the New York Post. While that’s a lot of money for anyone to spend on a home, it’s actually significantly less than the almost $25 million the home’s sellers were looking for in its most recent listing, meaning that he got a discount of nearly $5 million in the bargain.
The condo is at the top of 520 West 28th Street, designed in a deluxe futuristic style by the late architect Zaha Hadid. Hadid’s involvement as well as the building’s extremely enviable location in Chelsea led to extremely high asking prices for not just the penthouse, but all the units in the complex, and in fact, its original listing price was a staggering $50 million in 2015. But as broker Donna Olshan told the Post, Edens’s 20 percent discount is less a reflection of market instability and more a reflection of the penthouse’s unrealistically high price to start with:
“$50 million was a fantasy price based on a market that didn’t exist…It wasn’t realistic. Once the property was priced right, it moved. This isn’t rocket science. Every property will sell if priced appropriately and discounted.”
No matter the price, the 520 West 28th Street penthouse is an unforgettable residence, with five bedrooms, seven bathrooms, and unique touches such as a sculptural staircase and the only private IMAX theater in the entire city.
You can take a look at the condo that Wes Edens can now call home in the film below from The Piranesi Experience: