Clock Tower Penthouse at 108 Leonard Sells For $16M

A penthouse in the clock tower at 108 Leonard Street finally sold for $16.2 million. 

The triplex atop the Tribeca building, once the headquarters of New York Life Insurance, closed after finding a buyer in October, according to Elena Sarkissian, one of the agents representing sales at the project. The deal works out to roughly $1,800 per square foot. 

The closing comes after two other contract negotiations for the apartment fell through due to unforeseen personal circumstances with both buyers, according to Sarkissian, who announced the sale in an Instagram post. The unit hit the market last April with an asking price of $19.3 million. 

“The third time’s the charm,” Sarkissian said, describing the sale process as a “real saga.” She declined to share the identity of the buyers, though she described them as a family with multiple homes who are excited to be “custodians of this historical masterpiece.”

Unit PHW spans nearly $8,800 square feet and has five bedrooms and five bathrooms. It also features an elevator, 15-foot ceilings and a wraparound terrace. 

Lynne Mazin of Compass’ Apres Global Team brought the buyer.

Developer Elad Group launched sales at the 166-unit building in 2018, with a Douglas Elliman Development Marketing team, led by Sarkissian, Jane Powers and Christopher Salierno, at the helm. 

Only three sponsor units remain at the project, including two three-bedrooms asking roughly $5 million and a one-bedroom asking just under $2 million. 

In the eight years since sales began, the building has attracted a star-studded list of buyers, including the now-divorced couple, actress Nicole Kidman and musician Keith Urban, who purchased a two-bedroom for $3.5 million in 2020. 

Last June, Alexandra Clancy, the widow of thriller novelist Tom Clancy, paid $21.4 million for another penthouse at the building. Three months later, pop star Sabrina Carpenter bought a 2,900-square-foot condo from Cassandra Grey, founder of beauty retailer Violet Grey, for nearly $10 million. 

Elad’s Isaac Tshuva and developer Don Peebles purchased the property from the city, then under the Bloomberg administration, for $160 million in 2013. In 2016, a New York judge initially shot down the developers’ plans to cut access to the then-hand-wound clock with the construction of the penthouse, though an appellate court later greenlit their proposal. 

Amenities in the building include private valet parking, a lap pool, fitness center and rooftop garden.

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