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This is a clean, arms-length sale of a luxury penthouse condo at One High Line in Chelsea, a trophy asset developed by the highly reputable Witkoff Group in partnership with Access Industries. The $4,554/SF pricing is well-supported by at least 10 comparable transactions in the same building and immediate submarket, including multiple closings by the same seller in the $3,989–$5,199/SF range during 2024–2026, indicating strong and consistent market depth. The buyer is an anonymous trust structure, which is typical for ultra-high-net-worth purchasers in this price segment and does not present a meaningful credit or reputational concern. No distress indicators, liens, violations, litigation, or foreclosure flags are present, and the seller's track record is institutional-grade with significant volume. The primary underwriting caveat is the absence of financing information, suggesting an all-cash transaction, which reduces leverage risk but limits lender fee opportunity.
Deal Stats
Parties
Seller / Landlord
Alex Witkoff is a principal of the Witkoff Group, one of New York City's most prominent real estate development and investment firms, with over $577M in transaction volume across 11 recorded deals; the firm is the developer behind One High Line (500 West 18th Street), a luxury residential tower developed in partnership with Access Industries and Len Blavatnik.
Buyer / Tenant
Bellas Pad Trust, administered by Christian D. Curtis as Trustee, appears to be a private wealth vehicle used for high-end residential acquisition; trust-based purchases of this nature are common among ultra-high-net-worth individuals seeking privacy in luxury real estate transactions in NYC.
Score Analysis
Why this score
Seller Institutional Credibility
Witkoff Group's $577M transaction volume and development of One High Line demonstrates established market presence and reduces counterparty risk.
Comparable Market Support
10+ comps in same building at $3,989–$5,199/SF validate the $4,554/SF pricing within a tight, well-documented range.
All-Cash Structure
Eliminates financing contingency risk and accelerates closing timeline but reduces lender due diligence oversight and fee opportunity.
Anonymous Trust Buyer
Trust-based acquisition is standard ultra-high-net-worth practice in NYC luxury residential and carries no meaningful credit or legal concern.
Prime Location & Asset Class
One High Line in Chelsea is a trophy development with strong liquidity and rent/resale demand in a supply-constrained luxury submarket.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Obtain explicit financing disclosure
Confirm all-cash status or identify lender to quantify leverage profile and true buyer capital requirements.
Verify building-level operating metrics
Obtain recent NOI, cap rate benchmarks, and occupancy data for One High Line to contextualize asset stability and income resilience.
Clarify trust beneficiary source of funds
Request AML/KYC documentation on Bellas Pad Trust settlor/beneficiary to eliminate reputational and sanctions risk.
Raw Deal Textclick to expand
traded + Submit RE Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Condo Sale 500 West 18th Street Share SOLD Bellas Pad Trust Purchases Chelsea Condo From Alex Witkoff For $23.5 Million $23,500,000 $4,554/SF BUILDING SIZE 5,160 SF ASSET TYPE CLOSING Jun 16, 2026 Overview Players Market Deal Summary Caption AI A penthouse condo located at 500 West 18th Street in Chelsea, Manhattan has been sold for $23.5 million. The asset spans 5,160 square feet, resulting in a price per square foot of $4,554. The sale date was recorded as June 16, 2026. Summary of transaction details: Property Type: Condo Transaction Amount: $23,500,000 Square Footage: 5,160 Price Per Square Foot: $4,554 Buyer: Bellas Pad Trust - Christian D. Curtis as Trustee Seller: Alex Witkoff - Witkoff Group The transaction was facilitated by Alex Witkoff, who represents the Witkoff Group in the sale of this property. The trust managed by Christian D. Curtis is the buyer, successfully acquiring the condo through this closed transaction. PLAYERS All Buyers | Sellers AW Alex Witkoff Witkoff SELLER $600.5M VOL 12 deals Contact Midtown South West Condo Market Snapshot Neighborhood boundary · Condo · Sale transactions Full Market → Comps 10 Listings Map 11 Investors Top Brokers Lenders John McDonough & Langhorne S Perrow Acquire Chelsea Condo From Alex Witkoff For $17.5M 3,829 SF · Apr 2024 New York, New York $17,500,000 $4,570/SF <0.1 mi Robert Shafir And Donna Shafir Purchase Condo In Chelsea For $25 Million From Steve Witkoff And Len Blavatnik 4,808 SF · Sep 2024 $25,000,000 $5,199/SF Peter Bachalis Of ICONIQ Capital Purchases Condo At 500 West 18th Street For $22.78M 5,210 SF · Nov 2024 $22,775,000 $4,371/SF Edan E Pinkas Acquires Penthouse Condo From Witkoff Group And Len Blavatnik For $24.76M 5,422 SF · Nov 2024 $24,755,775 $4,565/SF Sandor Krauss Purchases Condo At One High Line From Steven Witkoff And Len Blavatnik For $26.55M 5,704 SF · Oct 2024 $26,550,913 $4,654/SF James Wei Acquires Condo At 500 West 18th Street For $22.31M From Witkoff Group And Access Industries 5,591 SF · Dec 2024 $22,305,775 $3,989/SF Cary Chan Acquires Penthouse At 500 West 18th Street For $24.75 Million From Witkoff Group And Access Industries 5,663 SF · Nov 2024 $24,750,000 $4,370/SF Monochromatic LLC Acquires Condo From Annie Leibovitz At 495 West Street For $19.5M 4,700 SF · Mar 2026 $19,500,000 $4,148/SF 0.5 mi Annie Leibovitz Purchases West Village Condo From Helen Marden For $16.5M 4,700 SF · May 2025 $16,500,000 $3,510/SF Andrew Kontzamanis Acquires Condo At 212 West 18th Street In Chelsea For $21M 4,748 SF · Feb 2021 $21,000,000 $4,422/SF Live NEARBY MARKETS NEIGHBORHOODS Long Island City Central Williamsburg Commercial District Greenpoint Williamsburg Financial District Downtown West Commercial District Chinatown Lower East Side East Village West Village Clinton Midtown BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Linden Fort Lee STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 18.2K The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use