Key Takeaways:
- Listed for a whopping $25 million in 2017, Jennifer Lopez’s NYC penthouse has been hanging out on the market for four years.
- The home features nearly 10,000 square feet of indoor and outdoor living space spread across 2 floors—so, why is it not selling?
- You might not be in the market for a penthouse apartment in NYC, but you can buy a dream home of your own with DeLena Ciamacco!
A Luxurious Penthouse in the Whitman
In a time when homes are flying off the market in a matter of days, it’s surprising to find a listing that has been for sale for a month, much less a year. But some celebrity homes just won’t sell, and Jennifer Lopez’s NoMad penthouse is one of them. Originally listed in October 2017 for $27 million, there’s been little interest from buyers despite a $2 million price cut.
With over 6,500 square feet of interior space, the roomy open-concept home features four bedrooms, six full bathrooms, and two half bathrooms. Four private terraces spread across two floors are the perfect outdoor spaces for relaxing and hosting thrilling parties. And with amenities like a full-time doorman, locked elevators, and state-of-the-art smart home features, it’s perfect for anyone seeking some NYC-style luxury.
So, why hasn’t J.Lo’s home sold yet? Let’s take a closer look.
A bustling location
Located above Madison Square Park in the Whitman near the corner of East 26th Street and Madison Avenue, this penthouse is truly in the heart of bustling NYC. According to the New York Post, the high traffic in the area is one of the major reasons why she decided to list the home.
The thing is, most celebrities who spend that kind of money on a penthouse apartment don’t want to live in a high-traffic area either. They value their privacy and would prefer a more discreet location. The high price and busy location are a combo that makes it hard to find a suitor for the property.
An unusual penthouse
“Penthouse” usually evokes images of a luxurious apartment high above the noisy city streets with sweeping views of the New York skyline. But that’s not quite the case with Lopez’s home.
While it is a luxurious penthouse, The Whitman is only six stories tall, making it the shortest building on the block. Living in a penthouse sandwiched between much taller buildings doesn’t exactly live up to the image of above-the-clouds luxury that many billionaires are likely searching for in their next home.
A steep pricetag
“Love Don’t Cost a Thing,” but this penthouse sure does. At $25 million, Lopez’s penthouse comes with a steep price tag when you consider the location and amenities. New York City homes with this price tag usually fit a more traditional definition of city luxury. Since the penthouse isn’t located in a highly sought-after building near Central Park or Tribeca, it isn’t quite as appealing as other properties on the market.
Need a Mansion of Your Own?
While a property like J.Lo’s might be more of a dream than a reality, our dedicated team is here to help you find the perfect property to call home. Contact us today to find a dream home of your own in Central Ohio!