In July of 2024, the five-floor penthouse of the Aman New York Hotel sold for $135 million, making it the most expensive apartment sale in New York City this year. But what is the Aman New York Hotel penthouse, who bought it, and why was it so expensive? Let’s dive in together.

The Penthouse

This fancy penthouse apartment covers 12,500 square feet over the top five floors of the building (known as the Crown, for which the building gets its name) and is actually unfinished. The buyer purchased the unit with the understanding they could customize and tailor the space however they wanted.

The Amenities

The original layout of the penthouse (subject to change according to the new owner’s whims) included a show kitchen, a working kitchen, two full swimming pools (one indoor and one outdoor), a piano lounge, a gallery, a wraparound terrace, four bedrooms, game room, a steam room, and more. The master suite takes up the entire fourth floor.

The Five Floors

The first floor of the penthouse begins on the 26th floor of the Crown building and includes the 3,677 square-foot terrace, outdoor pool, two lounges, study, bar, gallery, and powder room.

The second floor has the family room, dining room, and bedroom with an attached bathroom and powder room, the show kitchen, and a real kitchen.

The third floor has four bedrooms, four bathrooms, and a game room.

The fourth floor has the full-floor master bedroom which includes two bathrooms and a library.

The fifth floor has another lounge, bathroom, and second pool.

Apartment History

The original floor plans for the apartment were made public in 2017 while still under construction and shortly after the building itself was sold. The initial buyer for the apartment offered $180 million in 2018 but withdrew their offer, which allowed it to be sold in 2024 for its record amount.

Apartment Amenities

Besides the apartment itself, residents of the penthouse can enjoy a number of private clubs in the building, including an exclusive jazz club, the 25,000-square-foot member spa, and the sky lobby.

Building Companions

Besides the penthouse in the Crown, there are 21 other condos that feature just as fancy and over-the-top amenities and design. There are also 83 rooms in the Aman New York hotel on the floors below. All boasting the kind of gaudy rich extremes that you expect from a building on Billionaries’ Row.

The Building

The Crown Building was built in 1922 for August Heckscher as an office building. The exterior features French Renaissance design and is most famous for its four-story octagonal ‘crown’ at the top, which is where the penthouse is located. It was bought in 1981 by Philippine dictator Marcos, which is when it got its name.

It was designated a New York City landmark in 2024.

The Location

The Crown Building is located at 730 Fifth Avenue on the corner of 57th Street in Midtown Manhattan. This is near the southern end of Central Park and the Theater District.

Hotel History

The company Shvo and Doronin bought the top 21 stories of the Crown Building in 2015 for $500 million and converted it into the Aman New York Hotel and luxury apartments. Many residents left the building after the sale was announced while Shvo and Doronin evicted others.

The hotel finally opened in 2022, with the cheapest rooms available for rent at $3,200 per night and a private club available for a membership fee of $200,000 and an annual fee of $15,000

The Buyer

The man behind the July sale of the penthouse is billionaire Vladislav Doronin, yes, the same man who bought the building itself. I suppose he liked his own work too much.

This 61-year-old also owns homes in the Time Warner Center in Manhattan, Miami Beach, Ibiza, London, and Moscow. He is the owner of Aman Resorts (the company behind the hotel in the Crown Building), and co-founder of Capital Group.

Why so Expensive?

Since Doronin is essentially buying the apartment from himself, he probably could have spent any amount he wanted on it and had initially planned to sell it for $180 million to the first buyer. But since he bought it in an unfinished state, he got it for $135 million. What a steal!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.