This German Investor Paid Over $130 Million for Four Manhattan Condos. Then the Market Tumbled.

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Some of the year’s biggest resale losses happened at high-end condo towers like 56 Leonard and One57, while the biggest gains happened at small buildings

As the real estate market surged to highs in the mid-2010s, German investor Ekkehart Hassels-Weiler quietly plowed $131 million into four downtown New York penthouses, including the top perch at Herzog & de Meuron-designed skyscraper 56 Leonard.

 

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Ha ha! Good! Stop building unaffordable high-end condos when there’s a housing crisis!

That tower's design is giving me Jenga anxiety.

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