Manhattan Condo With Two Master Suites











Manhattan Condo With Two Master Suites
Michael Achenbaum, president of Gansevoort Hotel Group, knew what he was getting into when he bought two apartments in a high-rise in Manhattan’s Financial District. The building was converted to condominiums from rental units about 10 years ago, and Mr. Achenbaum says he paid $1.85 million in 2007 for both apartments with the idea of combining them. Mr. Achenbaum says he didn’t pay market rate for them because his family owned the building. Because his home is in the Financial District, the 43-year-old Mr. Achenbaum says he got more for his money. ‘My apartment is definitely something that would cost you double if it was in Tribeca,’ he says.
Mr. Achenbaum, who lives alone, says he spent less than $1 million combining the apartments—a project that took a year to complete. In effect, he says, the 15th-floor home has two master bedrooms on opposite ends. Faux beams provide lots of lighting, he says.
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Location:
Manhattan, United States
- Price: $3,995,000
This condominium in Manhattan’s Financial District is two apartments combined, has a big terrace and is located in a family-oriented neighborhood.—Stephen Lee